Bonfiglioli Transmissions IPO Day 2: Issue booked 99%, NIIs fully subscribed; check all key updates

The initial public offering (IPO) of Bonfiglioli Transmissions on its second day of subscription sees a total booking of 0.99 times on Friday, September 18.

Until 5 PM, the initial share sale of the company has received bids for 3,00,27,100 shares as compared to 3,02,82,330 shares on offer, as per exchange data.

The non-institutional investor (NII) category has been subscribed 1.71 times, while the retail individual investor (RII) segment saw a 1.16 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 0.16 times.

The ₹2,534 crore IPO is a complete offer for sale and has a price band set between ₹558 and ₹586 per share.

The book-building issue has a minimum lot size of 25 shares, and the investor can apply for a minimum of 1 lot.

“Our company expects that listing of the equity shares will enhance our visibility and brand image and provide liquidity and a public market for the equity shares in India,” the firm said in its red herring prospectus.

Prior to the IPO, the company raised ₹759.26 crore from anchor investors, including Goldman Sachs Asset Management, BlackRock, and Abu Dhabi Investment Authority. It allotted 1.30 crore shares to anchor investors at ₹586 apiece.

SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, HDFC Mutual Fund, Axis Mutual Fund, Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund, Allianz Global Investors, Amundi and Canada's Public Sector Pension Investment Board (PSP Investments) were also among the anchor investors.

Bonfiglioli Transmissions IPO objective

The money raised from the IPO will be used towards the following objectives:

Bonfiglioli Transmissions IPO: Allotment and listing date

About Bonfiglioli Transmissions

Bonfiglioli Transmissions, the Indian unit of Italy-based Bonfiglioli S.p.A., makes mechanical and electro-mechanical power transmission products and industrial drive solutions, including gear motors, gearboxes and drive systems.

The firm was incorporated in Chennai in June 1998 and operates in the country for over 25 years. Manufacturing is conducted at Thirumudivakkam and Mannur in Tamil Nadu and Talegaon in Maharashtra. These facilities produced 3,41,133 gear-motor and gearbox units in CY25 and had a combined available annual capacity of 12,05,748 machine/assembly hours.