Bharat Dynamics Tanks 16%, Makes Weak Market Debut

By Olga Robert
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    Shares of defence company Bharat Dynamics made a weak debut at the bourses today, falling nearly 16 percent from the issue price of Rs 428. The stock listed at Rs 360, a sharp fall of 15.88 percent from the issue price, on BSE.

    Bharat Dynamics Tanks 16%, Makes Weak Market Debut

    On NSE, shares of the company tumbled 13.55 per cent to Rs 370 in opening trade. The company's market valuation stood at Rs 7,184.63 crore.

    The initial public offer of the firm was open during March 13-15 and was subscribed 1.30 times. Price band for the issue was fixed at Rs 413-428. SBI Capital Markets, IDBI Capital Markets & Securities and YES Securities (India) managed the issue.

    Source: PTI

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