Bondada Engineering IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Bondada Engineering IPO will open on August 18 and close on August 22, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 42.72 crore through this public offering, consisting of 56.96 lakh shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 75 per share.
Bondada Engineering Limited (“the Company”)
Bondada Engineering Limited was incorporated in 2012. It is an ISO 9001:2015 certified integrated infrastructure company engaged in the business of providing engineering, procurement, and construction (“EPC”) services and operations and maintenance (“O&M”) services to its pan-India customers operating in the telecom and solar energy industries.
The company provides passive telecom infrastructure services, which include turnkey services for cell site construction, erection, operation, and maintenance of telecom towers with civil, electrical, and mechanical works; supply of poles and towers; laying and maintenance of optical fiber cables; supply of power equipment; and other telecom infrastructure-related services to major telecom companies and telecom tower operators in India. Till date, they have installed over 11,600 telecom towers and poles, out of which they have installed over 7,700 in the last three fiscal years.
They also provide O&M services to telecom and tower operating companies, such as cell site maintenance with preventive and corrective maintenance of passive infrastructure and equipment, backup power systems, manning services and supply of riggers, surveillance, corrective maintenance of optical fiber cable routes, and other maintenance-related facilities.
The company also provides O&M services to its solar energy customers, which include testing and cleaning of solar panels, repair and replacement of damaged components, and inspection of solar panels.
Noteworthy Highlight
- The company are awarded for our excellence as a “Telecom Infrastructure Services Provider” for the year 2021 by Economic Times and “Company of the Year” for the year 2023 by Global India Business Forum.
- They have recently been awarded a work order from a Government of India enterprise for supply and erection of Ground Based Tower (“GBT”),
Company Key Metrics
| Earning Per Share (EPS) | ₹ 11.43 per Equity Share |
| ROE | 22.77% |
| ROCE | 35.63% |
| Return on Net Worth (RoNW) | 22.77% |
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- To meet long-term working capital requirements, and
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 7,837.54 | 5,789.41 | 4,775.88 |
| Total Assets | 25,115.46 | 15,761.73 | 17,091.69 |
| Reserve & Surplus | 6,246.93 | 5,707.41 | 4,693.88 |
| Total Borrowings | 8,422.65 | 3,803.23 | 4,667.31 |
| Total Revenue | 37,095.77 | 33,420.96 | 28,832.29 |
| Profit After Tax | 1,825.19 | 1,013.53 | 920.55 |
IPO details
As per the DRHP filed with SEBI, 56.96 lakh shares will be offered as a fresh issue in the BSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 2.88 lakh shares of the offering. While Vivro Financial Services Private Limited will be the lead manager for the IPO, KFIN Technologies Limited will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 75 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,600 shares |
| Issue Size | 5,696,000 shares (aggregating up to ₹ 42.72 crores) |
| Fresh Issue | 5,696,000 shares (aggregating up to ₹ 42.72 crores) |
| Listing At | BSE SME |
Market Maker detail
| Market maker | Rikhav Securities |
| Market maker portion | 288,000 shares |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| Other shares offered | 50% of the offer |
| Retail shares offered | Not less than 35% of the offer |
GMP: Bondada Engineering IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Bondada Engineering IPO
The issue opens for subscription on August 18, 2023, and closes for subscription on August 22, 2023 (both days inclusive). The basis of allotment will be finalised on August 25, 2023, and the refunds will be initiated on August 28, 2023. In addition, the demat credits are expected to happen on August 29, 2023, and the stock will be listed on the NSE SME on August 30, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | August 18, 2023, |
| Closing Date | August 22, 2023 |
| Basis of Allotment | August 25, 2023 |
| Initiation of Refunds | August 28, 2023 |
| A credit of shares to Demat A/c | August 29, 2023 |
| Listing Date | August 30, 2023 |
Lot Size
The lot size of the Bondada Engineering IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 120,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,600 | ₹ 120,000 |
| Retail (Maximum) | 1 | 1,600 | ₹ 120,000 |
| HNI (Minimum) | 2 | 3,200 | ₹ 240,000 |
Promoters Holdings
Raghavendra Rao Bondada, Neelima Bondada and Satyanarayana Baratam are the promoters of the company.
| Pre-issue Shares Holdings | 86% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Bondada Engineering Limited 1-1-27/37, Ashok Manoj Nagar Kapra,Hyderabad – 500062 Phone: +91 72070 34662 Email: cs@bondada.net Website: https://bondada.net/ |
| IPO Registrar | KFIN Technologies Limited Phone: 04067162222, 04079611000 Email: bel.ipo@kfintech.com Website: https://kosmic.kfintech.com/ipostatus/ |
| IPO Lead Manager(s) | Vivro Financial Services Private Limited |
FAQs
The Bondada Engineering IPO price is ₹ 75 per share.
The minimum investment size is one lot for retail investors. One lot of the Bondada Engineering IPO contains 1,600 shares of ₹ 120,000.
The finalisation of the basis of allotment for the Bondada Engineering IPO will be done on August 25, 2023, and the allotted shares will be credited to your demat account by August 29, 2023. Check the Bondada Engineering IPO allotment status.
The Bondada Engineering IPO shares listing date is August 30, 2023.
