The price band for the Bharat Dynamics IPO has been fixed at Rs413-428 per share. Photo: iStockphoto
New Delhi: The initial public offering (IPO) of defence public sector undertaking, Bharat Dynamics Ltd, saw 46% subscription on the second day of bidding on Wednesday.
The Bharat Dynamics IPO, which aims to raise Rs960 crore, received bids for 10,244,255 shares against the total issue size of 2,24,51,953 shares, NSE data showed.
The category reserved for qualified institutional buyers (QIBs) was subscribed 50%, non institutional investors 8% and retail investors 57%.
The Bharat Dynamics IPO is of up to 22,451,953 equity shares and is scheduled to close on Thursday. The price band for the offer has been fixed at Rs413-428.
SBI Capital Markets, IDBI Capital Markets & Securities and YES Securities are managing the Bharat Dynamics IPO.