Bhadora Industries IPO Is Open Now; Price Band: Rs 97–103

Indore, August 4, 2025 – Bhadora Industries Limited’s ₹55.6 crore initial public offering (IPO) opened for public subscription today, Monday, August 4, and will remain open until Wednesday, August 6, 2025. The company has set a price band of ₹97 to ₹103 per equity share and is issuing up to 54,00,000 equity shares through a 100% book-built process on the NSE Emerge platform.

IPO Details

• The IPO will open on August 4, 2025, and close on August 6, 2025.
• The price band has been set between ₹97 and ₹103 per share.
• Each equity share carries a face value of ₹10.
• Investors can place bids in a minimum lot size of 1,200 shares.
• The total issue comprises 54,00,000 equity shares.
• Anchor investors have been allotted 15,31,200 shares at ₹103 per share, amounting to ₹15.78 crore.
• A total of 2,73,600 shares have been reserved for market makers.
• The net issue available for public subscription stands at 51,26,400 shares.
• Unistone Capital Pvt. Ltd. is the Book Running Lead Manager for the issue.
• MUFG Intime India Pvt. Ltd. is appointed as the registrar to the IPO.

Anchor Investor Response

On August 1, 2025, Bhadora Industries successfully allotted 15,31,200 equity shares to 11 anchor investors at ₹103 per share, raising ₹15.78 crore. Key participants included Finavenue Capital Trust, India Equity Fund, Negen Undiscovered Value Fund, and AI Maha Investment Fund, among others.

Use of IPO Proceeds

The net proceeds will be utilized as follows:

• The company plans to use ₹22.31 crore from Bhadora Industries IPO proceeds to set up a new manufacturing facility in Khargone, Madhya Pradesh.
• An amount of ₹20 crore will be allocated towards meeting working capital requirements.
• The remaining funds will be used for general corporate purposes, which will be finalized later.

Financial Snapshot (₹ in lakhs)

• The company’s revenue from operations grew from ₹1,844.03 lakh in FY23 to ₹8,139.32 lakh in FY24, and further to ₹11,011.18 lakh in FY25.
• Profit after tax rose significantly from ₹18.06 lakh in FY23 to ₹495.52 lakh in FY24, and to ₹1,078.69 lakh in FY25.
• Earnings per share (both basic and diluted) increased from ₹0.14 in FY23 to ₹3.75 in FY24, and to ₹8.17 in FY25.
• Net worth more than tripled over the three years, rising from ₹519.97 lakh in FY23 to ₹1,015.49 lakh in FY24, and reaching ₹2,094.18 lakh in FY25.

Risks and Considerations

The company has a high dependency on its top 10 customers (86.92% revenue in FY25), EPC contractor segment (90.12% of FY25 revenue), and a single manufacturing facility in Tikamgarh, MP. Further, legal proceedings are ongoing involving a promoter which are pending before the Madhya Pradesh High Court.

Listing & Allotment Timeline

• The IPO will open for subscription on August 4, 2025.
• The issue will close on August 6, 2025.
• The basis of allotment will be finalized on August 7, 2025 (T+1).
• Refunds or unblocking of funds will take place on August 8, 2025 (T+2).
• The company’s shares are expected to be listed on the stock exchanges on August 11, 2025 (T+3).

About Bhadora Industries Limited

Founded originally in 1986 as a partnership firm, Bhadora Industries Limited is a cable manufacturing company based in Madhya Pradesh, operating under the brand “Vidhut Cables.” The company specializes in industrial cables, including LT Aerial Bunched Cables, LT XLPE Power Cables, and LT PVC Power Cables. Its clients include EPC contractors and government discoms.

REF:https://nsearchives.nseindia.com/content/ipo/RHP_BHADORA.zip

https://nsearchives.nseindia.com/content/ipo/ANCHOR_BHADORA.zip

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations