Bharat Dynamics IPO
Bharat Dynamics IPO — date, price band, lot size & details 2018
Bharat Dynamics listed on 23 Mar 2018 at ₹370, 13.6% below the ₹428 issue price.
Bharat Dynamics is a Hyderabad based defence PSU making surface to air missiles, anti tank guided missiles, underwater weapons and launchers. Its total income was Rs 5,198.07 crore in FY2017.
Stock price
Bharat Dynamics is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 13 Mar 2018
- Close 15 Mar 2018
- Allotment 21 Mar 2018
- Refund/credit TBA
- Listing 23 Mar 2018
Issue summary
The terms of the offer, as filed.
| IPO Dates | 13 to 15 Mar, 2018 |
|---|---|
| Price Band | ₹413 – ₹428 |
| Face Value | ₹10 |
| Lot Size | 35 Shares |
| Issue Size | ₹952.25 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 10.00 per share |
| Registrar | Alankit Assignments Limited |
| Min Investment | ₹ 14,980 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 35 shares at the ₹428 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 35 | ₹14,980 |
| Retail (max) | 13 | 455 | ₹1,94,740 |
| S-HNI (min) | 14 | 490 | ₹2,09,720 |
| S-HNI (max) | 66 | 2,310 | ₹9,88,680 |
| B-HNI (min) | 67 | 2,345 | ₹10,03,660 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It was the sole maker of surface to air missiles in India, from 3 manufacturing facilities.
- 02Total income rose from Rs 3,253.23 crore in FY2015 to Rs 5,198.07 crore in FY2017.
- 03Profit after tax rose from Rs 443.55 crore in FY2015 to Rs 490.32 crore in FY2017.
- 04It had no borrowing shown, with net worth of Rs 2,212.46 crore in FY2017.
Risks · 5
- 01Profit after tax fell from Rs 562.07 crore in FY2016 to Rs 490.32 crore in FY2017.
- 02Its orders depend on defence ministry programmes; profit was Rs 172.59 crore in six months to September 2017.
- 03Defence programmes can be delayed, and net worth fell to Rs 1,630.64 crore on 30 September 2017.
- 04The whole Rs 952.25 crore issue was an offer for sale, so none of it went to the company.
- 05The government held 100% before the issue and 87.75% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the Bharat Dynamics offer document.
| Metric | 30 Sep 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 8,284.98 | 8,600.79 | 9,640.63 | 8,411.97 |
| Total Income | 2,190.25 | 5,198.07 | 4,601.38 | 3,253.23 |
| Profit After Tax | 172.59 | 490.32 | 562.07 | 443.55 |
| NET Worth | 1,630.64 | 2,212.46 | 1,851.24 | 1,652.67 |
| Reserves and Surplus | 1,539.00 | 2,090.27 | 1,753.49 | 1,537.67 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Bharat Dynamics IPO will be updated shortly.
About the company
It makes surface to air missiles, anti tank guided missiles, underwater weapons, launchers, countermeasures and test equipment.
It has three manufacturing facilities at Hyderabad, Bhanur and Visakhapatnam, and is the sole maker of surface to air missiles in India.
The IPO was Rs 952.25 crore and was entirely an offer for sale by the Government of India at Rs 428, the top of the Rs 413 to Rs 428 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Bharat Dynamics IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
141 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
IDBI Capital Markets & Securities Ltd.
42 issues handledBest listing: Route Mobile (+104.9%). Weakest: IRCON International (-13.3%).
YES Securities (India) Ltd
20 issues handledListing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Bharat Dynamics?
The current Grey Market Premium is ₹4, or 1% over the issue price.
What is the Bharat Dynamics IPO price band?
₹413 to ₹428, on a face value of ₹10.
When is the allotment?
The basis of allotment is 21 March 2018, with listing on 23 March 2018.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Alankit Assignments Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
