Indian government to sell off stake in missile manufacturer BDL

24 January 2020

The government of India is preparing to sell off another stake in missile specialist Bharat Dynamics Limited (BDL), a notice published recently by the Ministry of Finance's Department of Investment and Public Asset Management (DIPAM), has confirmed.

The DIPAM notice said the "government intends to disinvest 15% paid up equity capital in BDL" through shares offered to investors on Indian stock exchanges. It added that the government is also considering allotting additional shares to "eligible and willing" BDL employees at a discounted share price.

The government first listed BDL shares through an initial public offering (IPO) in March 2018. The IPO, through which the government sold off a 12.25% stake in the company, raised INR9.6 billion (USD134.5 million).

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