Bharat Dynamics IPO opens at Rs 413-428 a share: Should you subscribe?

The company aims to raise Rs 927.27 crore at lower end of price band and Rs 960.94 crore at the higher band through the issue

State-owned Bharat Dynamics has opened its initial public offering for subscription on Tuesday, with a price band of Rs 413-428 per share. The IPO of 22,451,953 equity shares is an an offer for sale by the promoter, The President of India, acting through the Ministry of Defence.
 
The company has reserved a portion of 458,203 equity shares for allotment to eligible employees. The issue will close on March 15. Employees and retail investors will get shares at a discount of Rs 10 per share on offer price.
 
The bids can be made for a minimum lot of 35 equity