Initial Public Offer (IPO) To Raise Around Rs 960 Crore For Bharat Dynamics
Bharat Dynamics the defense public sector company, in order to raise around Rs 960 crore has fixed their price band at Rs 428 and Rs 413 per share equity for its IPO (Initial Public Offer). Their latest issue will be open from March 13 and shall close on March 15, 2018.
The stake of Bharat Dynamics will be diluted by 12% while selling 22,451,953 total number of share by the government. The public issue will be managed by IDBI Capital Markets, Yes Securities, and SBI Capital Markets. The test equipment and countermeasures’ manufacturing are for the defense sector while the ATGMs (Anti-Tank Guided Missiles, SAMs (Surface-to-air Missiles) and underwater equipment launchers’ manufacturing are undertaken by Bharat Dynamics.
During a media interaction, V Udaya Bhaskar, the Managing Director and the BDL Chairman mentions that their aim is to improve their position in the market by increasing their capitalizing on opportunities from international as well as domestic markets and expanding capabilities. He further added that the Indian armed forces requirement is taken care by Bharat Dynamics. He further mentions that their upcoming manufacturing amenities at Amravati and Telangana (Ibrahimapatnam) with constant investment in infrastructure will help them fulfill the need of the increasing customer demands.
Bharat Dynamics planned manufacturing amenities at Amravati and Ibrahimapatnam will help in the manufacturing of new production of ATGMs and SAMs. As per V Udaya Bhaskar, the company’s manufacturing amenities at Hyderabad will intend to mechanize the production system while increasing the SAMs production. He further mentions, in order to provide the cost-efficient result and operational advantages, they are planning to establish “Test Fire Range” in Telangana at Rachakonda while also concentrating on the research and development.
Bharat Dynamics with an aim to develop and design missiles has managed to establish the “Missile Development Group”. The company has further established varied technical laboratories that include seeker laboratory to develop seeker technology, a laser laboratory, aerodynamic laboratory, and RF laboratory. Under the defense ministry, in the month of April, the cabinet had clearly stated the disinvestment in 4 “Public Sector Units” that also included “Bharat Dynamics”.
