Stories
Bonfiglioli Transmissions IPO Booked 46x on Day 3 With Strong Institutional Demand
- •The initial public offering of Bonfiglioli Transmissions India was subscribed 46.05 times by the final day of bidding, driven by massive demand from qualified institutional buyers.
- •The Rs 2,533.6-crore IPO received bids for 1,39,44,35,300 shares against 3,02,82,330 shares on offer, with the QIB portion booked 120.78 times.
- •Shares of the company were commanding a grey market premium of around 22 percent ahead of the final share allotment and listing.
- •The price band for the IPO was fixed at Rs 558 to Rs 586 per share, valuing the company at approximately Rs 11,016 crore at the upper end.
- •The public issue was entirely an offer for sale of 4.32 crore equity shares by the promoter Bonfiglioli S.p.A., meaning the company will not receive any proceeds from the offering.
Key Questions Answered
The initial public offering of Bonfiglioli Transmissions India was subscribed 46.05 times overall by 5:15 pm on October 19. Qualified institutional buyers led the demand with 120.78 times subscription, while the non-institutional and retail portions were subscribed 40.39 times and 5.90 times, respectively.
The IPO price band has been fixed at Rs 558 to Rs 586 per share. The share allotment is expected to be finalized by October 21, and the shares are scheduled to list on the stock exchanges on October 23.
The public issue comprises entirely an offer for sale (OFS) of 4.32 crore equity shares by the promoter, Bonfiglioli S.p.A. Because the issue is entirely an OFS, all proceeds will go directly to the selling shareholder, and the company will not receive any funds from the offering.
