Stocks

Bharat Dynamics shares list at 13.5% discount

Reuters March 23 | Updated on March 23, 2018 Published on March 23, 2018

The IPO was subscribed 1.3 times on the last day of the sale earlier this month.

Shares of state-run guided weapon systems maker Bharat Dynamics Ltd were trading down 8 per cent on their market debut after an initial public offering worth Rs 960 crore ($147.5 million). Shares listed at a discount of 13.55 per cent at Rs 370 against the IPO price of Rs 428. It fell as much as 15 per cent to 362 in early trade before recovering some of the losses.

The stock was trading at Rs 395.45 at about 10.30 am. The IPO was subscribed 1.3 times on the last day of the sale earlier this month.

Published on March 23, 2018
This article is closed for comments.
Please Email the Editor