The initial public offer of defence company Bharat Dynamics was oversubscribed 1.30 times on the last day of bidding.

The IPO to raise Rs 960 crore received bids for 2,92,42,115 shares against the total issue size of 2,24,51,953 shares, data available with the NSE till 1945 hrs showed.

The category set aside for qualified institutional buyers (QIBs) was oversubscribed 1.50 times, non-institutional investors 50 per cent and retail investors 1.41 times, merchant banking sources said.

Price band for the company's IPO has been fixed at Rs 413-428.

SBI Capital Markets, IDBI Capital Markets & Securities and YES Securities are managing the issue.