Hyderabad-based defence equipment PSU, Bharat Dynamics is set to raise Rs 960 crores (around $119m) through a 12% stake sale by way of an initial public offering of 2.2 crore shares, as a part of the government’s divestment programme, reported The Economic Times and Mint. The issue will open on the March 13, 2018 and close on March 15, with a price band fixed at Rs 413- Rs 428 per share.
DSK Legal acted as the Indian legal counsel and assisted
Riker Danzig Scherer Hyland & Perretti represented as the as international legal counsel for
Cyril Amarchand Mangaldas acted as the Indian legal counsel for
Incorporated in 1970, Bharat Dynamics is engaged in the manufacturing of surface-to-air and anti-tank guided missiles, launchers, underwater weapons and test equipment for the defence sector and currently operates from three manufacturing facilities located in Hyderabad, Bhanur and Visakhapatnam.
DSK CM foray
DSK did not feature at all in our 2017 IPO league table.
DSK managing partner Anand Desai had told us only last month that the firm's capital markets practice wasn't significant enough to merit a standalone vertical from a management perspective.
However, a firm spokesperson told us that DSK was currently advising on four more IPOs, besides this one, with the draft red herring prospectus (DRHP) having been filed for RITES Limited.
2018-01-22
This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.
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