Bhadora Industries IPO: Bhadora Industries launched its initial public offering (IPO) on Monday, August 4. The SME IPO will remain open for subscription till Wednesday, August 6.
The ₹55.62 crore Bhadora Industries IPO is entirely a fresh issue of 54 lakh shares. This means that the entire proceeds from the share sale will be received by the company. The funds raised will be used for the establishment of a new manufacturing facility, funding working capital needs and general corporate purposes.
Bhadora Industries IPO price band is set at ₹97 to ₹103 per share. Investors can apply for the IPO in lots of 1,200 shares. The retail investors need to apply for at least two lots, requiring an investment of ₹2,32,800.
Unistone Capital is the book-running lead manager of the Bhadora Industries IPO, while MUFG Intime India Private Limited is the registrar for the issue.
Bhadora Industries IPO Subscription Status
By 4.05 pm on the first day of the bidding process, Bhadora Industries IPO was booked 11% with the retail portion subscribed 5% and the non-institutional investor (NII) portion 38%.
Lastly, the qualified institutional buyer (QIB) quota has not received any bids so far.
Bhadora Industries IPO GMP
The grey market premium (GMP) for Bhadora Industries IPO remained tepid, signalling poor demand in the grey market. On Monday, Bhadora Industries IPO GMP was ₹1, higher than nil it was commanding two days ago. At the prevailing GMP and the upper end of the IPO price band, Bhadora Industries’ IPO listing price could be ₹104, a premium of less than 1%.
Shares of Bhadora Industries are slated to list on the NSE SME platform, with the tentative listing date of August 11.
About Bhadora Industries
The company is engaged in the business of manufacturing industrial cables, which provide efficient electricity transmission and distribution solutions to the government discoms and EPC companies. These clients cater to the diverse electrical connectivity needs of various industrial sectors.
It operates under the brand name of “Vidhut Cables”. Bhadoria Industries has been in the cable industry for almost three decades. It started with the production of Polyvinyl Chloride (PVC) cables, and later expanded our range to include Low Voltage (LV) cables, LT Aerial Bunched Cables, and Cross-Linked Polyethylene (XLPE) cables.
These products are designed for specific functions in electricity transmission and distribution. Each product serves a specific function in electricity transmission, from reliable power distribution in low-voltage applications to high-performance cables used in overhead power lines.
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