Bharat Dynamics ends down 8.7% on market debut

MUMBAI: Shares of state-owned defence company Bharat Dynamics ended 8.7 per cent at Rs 390.70 on the BSE on Friday after debuting at a 15.9 per cent discount to the issue price earlier in the day.

The shares opened at Rs 360 on the BSE and at Rs 370 on the NSE as against the issue price of Rs 428 per share. The company’s Rs 960-crore initial public offer which was open for subscription between March 13 and March 15 and was subscribed 1.3 times.