The floor price of Rs 330 per equity share has been decided, Bharat Dynamics filing with the exchanges said.
Bharat Dynamics (BDL) has informed the exchanges the government will sell up to 18,338,125 equity shares or 10 percent of the total issued paid up capital of the company for face value of Rs 10 each on September 8 (T Day – for retail investors) and September 9 (T+1 Day – for non-retail investors).
It would also exercise the option to additionally sell up to 9,164,063 equity shares or 5 percent of the total issued paid up capital of the company in case of oversubscription. The floor price of Rs 330 per equity share has been decided.
“If oversubscription is exercised, the total offer size will represent 27,492,188 shares or 15 percent of outstanding equity shares of the company,” the filing said, adding that it will be carried out through a separate designated window of BSE and NSE.
Eligible employees may apply for equity shares up to Rs 500,000, in accordance with terms and conditions of the Securities and Exchange Board of India (SEBI) and subject to approval from the competent authority, the filing said.
“The offer is being undertaken to achieve minimum public shareholding as prescribed under Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, and Regulation 38 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,” it added.