Bharat Dynamics IPO
Bharat Dynamics Limited (BDL) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 23 March 2018.
Listed 23 Mar
Subscribed 1.30x
Listing gain -13.6%
Issue details
Price band
₹413–428
Issue price
₹428
Lot size
35 shares
Min. retail bid
₹14,980
Max. retail bid
13 lots (₹1,94,740)
Issue size
₹1,667 Cr
Face value
₹10
Bidding
13 Mar – 15 Mar 2018
Listing
23 Mar 2018
Retail quota
35%
Registrar
Alankit Assignment Limited
Discount
Rs 10/- Per Equity Share for Retail and Eligible Employees Category
Listing day
Listed at
₹370
-13.6% vs issue price ₹428
Day's high
₹403
-5.9% · low ₹362 (-15.4%)
Day's close
₹390
-8.9% · traded ₹154 Cr
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,09,96,874 | 1,65,00,120 | 1.50x | |
| NII (HNI) total | 32,99,063 | 16,64,985 | 0.50x | |
| Retail | 76,97,813 | 1,08,89,305 | 1.41x | |
| Employees | 4,58,203 | 1,91,485 | 0.42x | |
| Total | 2,24,51,953 | 2,92,45,895 | 1.30x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 31% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Bharat Dynamics's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
| HealthCare Global EnterprisesMar 2016 | 2.36x | 0.43x | 0.83x | 1.56x | ₹650 Cr | -3.6% | -2.8% |
| Indian Energy ExchangeOct 2017 | 2.56x | 0.85x | 2.61x | 2.28x | ₹1,426 Cr | -9.1% | +0.6% |
| Tejas NetworksJun 2017 | 2.16x | 0.48x | 3.10x | 1.88x | ₹803 Cr | 0.0% | +5.6% |
| Khadim IndiaNov 2017 | 2.44x | 0.18x | 2.33x | 1.90x | ₹544 Cr | -2.7% | -1.4% |
| Infibeam IncorporationMar 2016 | 0.86x | 2.23x | 1.31x | 1.11x | ₹1,148 Cr | +4.9% | +8.1% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| SBI Capital Markets | 56 | +16.7% | 61% |
| IDBI Capital Markets & Securities | 7 | +19.1% | 43% |
| YES Securities (India) | 6 | +28.6% | 83% |
Offer documents (NSE)
Frequently asked
What is the Bharat Dynamics IPO price band and lot size? ₹413–428 per share, with a lot of 35 shares, so the smallest retail bid is ₹14,980.
How many times has it been subscribed? 1.30x overall: QIB 1.50x, NII 0.50x, retail 1.41x, employees 0.42x.
How did it list? It opened at ₹370, -13.6% against the issue price of ₹428, and closed its first day -8.9%.
Other IPOs of 2018
Dinesh EngineersGarden Reach Shipbuilders & EngineersAavas FinanciersIrcon InternationalHDFC Asset Management CompanyTCNS Clothing Co.Varroc EngineeringRITES
All 2018 IPOs →
Important: The AI listing estimates on Flash Finance are statistical estimates drawn from
how past Indian IPOs have listed. They are not a forecast of what any IPO will do, not a recommendation to apply, buy or sell,
and not investment advice. Listing prices depend on market conditions on the listing day and can differ widely from any
estimate; past patterns may not repeat. Subscription figures are as published by NSE (bids on NSE and BSE together) and can be
revised. Flash Finance is not a SEBI-registered investment adviser or research analyst. Read the issue's Red Herring
Prospectus and consult a SEBI-registered adviser before you invest.
