<article>Public sector unit Bharat Dynamics Ltd (BDL) on Wednesday said it will launch its Rs960 crore initial public offering (IPO) on 13 March.</article>

Public sector unit Bharat Dynamics Ltd (BDL) on Wednesday said it will launch its Rs960 crore initial public offering (IPO) on 13 March.
Bharat Dynamics has set a price band of Rs413-428 per share for the IPO. The offer will close on 15 February.
The share sale is a pure offer for sale that will see the government sell a total of 22.45 million shares, representing a stake dilution of about 12%.
Incorporated in 1970, Bharat Dynamics is engaged in the manufacture of surface-to-air missiles (SAMs), anti-tank guided missiles (ATGMs), underwater weapons, launchers, countermeasures and test equipment, and supplies them to the Indian armed forces.
The Hyderabad-headquartered company has three manufacturing facilities located in Hyderabad, Bhanur and Visakhapatnam. It is also setting up two more manufacturing facilities at Ibrahimpatnam, near Hyderabad and Amravati in Maharashtra, which will be used to manufacture SAMs and very short range air defence missiles, respectively.
According to V. Udaya Bhaskar, chairman and managing director of Bharat Dynamics, the company has incurred a total capital expenditure of approximately Rs600 crore in the last four years and is planning an additional capital expenditure of Rs90 crore.
As on 31 January, the company had an order book of Rs10,543 crore.
In fiscal 2017, Bharat Dynamics reported a total revenue of Rs5,198 crore, up 13% from the previous year. The company’s profit declined by 12.8% to Rs490.32 crore in 2016-17 from a year earlier.
Bharat Dynamics’ share sale is part of the Union government’s divestment plan under which the department of investment and public asset management (DIPAM) plans to sell government stakes in several central public sector enterprises through various routes such as IPOs, offers for sale and strategic sales.
Another defence sector major—Hindustan Aeronautics Ltd (HAL)—is also planning an IPO in March, Mint reported on 28 February. HAL plans to raise around Rs4,000 crore through its IPO, Mint reported.
Also in March, state-owned Mishra Dhatu Nigam Ltd (MIDHANI) plans to launch its approximately Rs400 crore IPO. Established in 1973, MIDHANI is engaged in the production of special steels and superalloys, besides being the only producer of titanium alloys in India.
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<h4>This story was first published on <a href="http://www.livemint.com/Money/8eiaM0oxJDbmSlHkAhKL0N/Bharat-Dynamics-fixes-IPO-price-band-at-Rs413428-per-share.html">Livemint.com.</a></h4>
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Public sector unit Bharat Dynamics Ltd (BDL) on Wednesday said it will launch its Rs960 crore initial public offering (IPO) on 13 March.

India: Bharat Dynamics to launch $147.8m IPO on March 13

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