Bharat Dynamics has received markets regulator Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The company had filed the draft red herring prospectus with the SEBI in January and got the regulator’s approval on February 15.
The objects of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. SBI Capital Markets, IDBI Capital Markets & Securities and Yes Securities are book running lead managers to the issue.
Bharat Dynamics designs and manufactures under water guided weapon systems, air-to-air missiles, and associated equipment for the defense sector in India.
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