Bookbuilding IPO | ₹56 Cr | Listed at NSE SME | Mon, Aug 4, 2025 - Wed, Aug 6, 2025
Bhadora Industries IPO is a book build issue of ₹55.62 crores. The issue is entirely a fresh issue of 0.54 crore shares of ₹55.62 crore.
Bhadora Industries IPO bidding started from Aug 4, 2025 and ended on Aug 6, 2025. The allotment for Bhadora Industries IPO was finalized on Aug 7, 2025. The shares got listed on NSE SME on Aug 11, 2025.
Bhadora Industries IPO price band is set at ₹103 per share. The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹2,47,200 (2,400 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (3,600 shares), amounting to ₹3,70,800.
Unistone Capital Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is NNM Securities Pvt.Ltd..
Refer to Bhadora Industries IPO RHP for detailed Information.
IPO Open
Mon, Aug 4, 2025
IPO Close
Wed, Aug 6, 2025
Issue Price
₹103 per share
Market Cap (Pre-IPO)
₹191.58 Cr
| IPO Date | 4 to 6 Aug, 2025 |
| Listed on | Mon, Aug 11, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹97 to ₹103 |
| Issue Price | ₹103 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 54,00,000 shares (agg. up to ₹56 Cr) |
| Reserved for Market Maker | 2,73,600 shares NNM Securities Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 51,26,400 shares (agg. up to ₹53 Cr) |
| Net Offered to Public | 51,26,400 shares (agg. up to ₹53 Cr) |
| Share Holding Pre Issue | 1,32,00,000 shares |
| Share Holding Post Issue | 1,86,00,000 shares |
| NSE Symbol | BHADORA |
| ISIN | INE0ZRC01017 |
Bhadora Industries IPO comprises a total issue size of 54,00,000 shares. The net offer to the public is 51,26,400 shares, after excluding 2,73,600 shares allotted on a firm basis. Of the Net offer 25,53,600 (49.81%) are allocated to QIB, 7,77,600 (15.17%) allocated to NII 17,95,200 (35.02%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 25,53,600 | 49.81% | 47.29% |
| − Anchor Investor Shares Offered | 15,31,200 | 28.36% | |
| − QIB (Ex. Anchor) Shares Offered | 10,22,400 | 18.93% | |
| NII (HNI) Shares Offered | 7,77,600 | 15.17% | 14.40% |
| − bNII > ₹10L | 5,18,400 | 9.60% | |
| − sNII < ₹10L | 2,59,200 | 4.80% | |
| Retail Shares Offered | 17,95,200 | 35.02% | 33.24% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,73,600 | 5.07% | |
| Total Shares Offered | 54,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,400 shares and in multiples of 1,200 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,47,200 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,47,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,70,800 |
| S-HNI (Max) | 8 | 9,600 | ₹9,88,800 |
| B-HNI (Min) | 9 | 10,800 | ₹11,12,400 |
Bhadora Industries IPO raises ₹15.77 crore from anchor investors. Bhadora Industries IPO Anchor bid date is August 1, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Aug 1, 2025 |
| Shares Offered | 15,31,200 |
| Anchor Portion (₹ Cr.) | 15.77 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Sep 6, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Nov 5, 2025 |
Incorporated in April 1986, Bhadora Industries Limited manufactures industrial cables for efficient electricity transmission and distribution, serving government discoms and EPC companies across various industrial sectors. The company operates under the brand name of "Vidhut Cables".
The product portfolio of the company includes Polyvinyl Chloride (PVC) cables Low Voltage (LV) cables, LT Aerial Bunched Cables and Cross-Linked Polyethylene (XLPE) cables.
The company's manufacturing facility is accredited by the Bureau of Indian Standards (BIS) and certified in Quality Management (BIS ISO 9001:2015), Environmental Management (ISO 14001:2015), and Occupational Health and Safety (ISO 45001:2018).
The company sells its products in the states of Andhra Pradesh, Assam,Bihar, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, J&K, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh and Uttarakhand.
The company supply its products to State Electricity Boards, domestic and EPC companies across India.
The company's manufacturing unit is located in Tikamgarh, Madhya Pradesh covering an area of 15028 Square Feet.
As of June 30, 2025, the company had 87 employees in various departments.
Competitive Strength
Bhadora Industries Ltd.'s revenue increased by 33% and profit after tax (PAT) rose by 118% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 48.76 | 25.87 | 20.13 |
| Total Income | 110.69 | 83.27 | 18.81 |
| Profit After Tax | 10.79 | 4.96 | 0.18 |
| EBITDA | 16.98 | 6.79 | 1.04 |
| NET Worth | 20.94 | 10.15 | 5.20 |
| Reserves and Surplus | 7.74 | 8.50 | 3.55 |
| Total Borrowing | 19.67 | 9.47 | 10.13 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Part finance the cost of establishing new manufacturing facility to expand our production capabilities of cables at Plot Nos. 188/1, Village Panwa Tehsil Kasrawad, District Khargone, Madhya Pradesh, India (“Proposed new facility”) | 22.32 |
| 2 | Funding working capital requirements of the Company | 20.00 |
| 3 | General Corporate Purposes | 7.88 |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 51.51% |
| ROCE | 42.41% |
| Debt/Equity | 0.94 |
| RoNW | 51.51% |
| PAT Margin | 9.80% |
| EBITDA Margin | 15.42% |
| Price to Book Value | 6.49 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.17 | 5.80 |
| P/E (x) | 12.6 | 17.76 |
| Promoter Holding | 92.42% | 65.59% |
| Market Cap | ₹191.58 Cr. |
The Bhadora Industries IPO is subscribed 0.53 times on August 6, 2025 3:15:02 PM (Day 3). The public issue subscribed 0.65 times in the individual investors category, 0.11 times in the QIB category, and 0.83 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| QIB | 0.11 | 10,22,400 | 1,16,400 | 2 |
| NII* | 0.83 | 7,77,600 | 6,43,200 | 77 |
| bNII (bids above ₹10L) | 0.54 | 5,18,400 | 2,79,600 | |
| sNII (bids below ₹10L) | 1.40 | 2,59,200 | 3,63,600 | |
| Individual Investors | 0.65 | 17,95,200 | 11,61,600 | 484 |
| Total | 0.53 | 35,95,200 | 19,21,200 | 563 |
Total Application : 563
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager’s fees | 0.50 |
| 2 | Underwriting Fees | 4.34 |
| 3 | Fees payable to Market Maker to the Offer | 0.15 |
| 4 | Fees payable to Registrar to the Offer | 0.02 |
| 5 | Fees payable for Advertising and Publishing expenses | 0.13 |
| 6 | Fees payable to Regulators including Stock Exchanges & Depositories | 0.10 |
| 7 | Payment for Printing & Stationery, Postage, etc. | 0.04 |
| 8 | Fees payable to Statutory Auditor, Legal Advisors and other Professionals | 0.10 |
| 9 | Others | 0.05 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹103.00 |
| Open | ₹101.00 |
| Low | ₹101.00 |
| High | ₹106.05 |
| Last Trade | ₹105.95 |
Lead Manager Reports
Bhadora Industries IPO is a SME IPO of 54,00,000 equity shares of the face value of ₹10 aggregating up to ₹56 Crores. The issue is priced at ₹103 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Aug 4, 2025, and closes on Wed, Aug 6, 2025.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Bhadora Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Bhadora Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Bhadora Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Bhadora Industries IPO opens on Mon, Aug 4, 2025 and closes on Wed, Aug 6, 2025.
Bhadora Industries IPO lot size is 1200, and the minimum amount required for application is ₹2,47,200, with 2 lots being the minimum application size.
You can apply in Bhadora Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Bhadora Industries IPO will be done on Thursday, August 7, 2025, and the allotted shares will be credited to your demat account by Fri, Aug 8, 2025. Check the Bhadora Industries IPO allotment status.
The Bhadora Industries IPO listing date is on Mon, Aug 11, 2025.
