Bonfiglioli Transmissions IPO Subscribed 67% on Day 2; GMP at 24%, Retail 81%
The Bonfiglioli Transmissions IPO was subscribed 67% by 12:00 pm on October 16, the second day of bidding, according to NSE data. The ₹2,533.6 crore issue drew bids for 2,01,79,925 shares against 3,02,82,330 shares on offer. The grey market premium stood at around 24%, per InvestorGain, but this is an unofficial indicator based on speculative trading and does not guarantee listing gains.
Bonfiglioli Transmissions IPO: Day 2 Subscription Status
The figures below are as of 12:00 pm on October 16 and will have changed since.
| Category | Subscription | Share of net offer |
|---|---|---|
| Non-institutional investors (NII) | 1.10 times | 15% |
| Retail individual investors | 81% | 35% |
| Qualified institutional buyers (QIB) | Not stated in source | 50% |
| Total | 67% | 100% |
The total subscription of 67% means about 1.01 crore of the 3.03 crore shares on offer had not yet been bid for at that point. Retail demand picked up on the second day, and the NII portion was already oversubscribed.
Price Band, Valuation and Issue Structure
The price band is ₹558-586 per share. At the upper end, the issue values the company at about ₹11,016 crore. The IPO is entirely an offer for sale (OFS) of 4.32 crore equity shares by the promoter, Bonfiglioli S.p.A. The proceeds go to the selling shareholder, and the company receives no funds from the offering.
The company has reserved 50,000 equity shares for eligible employees, who get a discount of ₹29 per share to the final issue price.
| Bid detail | Shares | Amount at ₹586 |
|---|---|---|
| Minimum bid (1 lot) | 25 | ₹14,650 |
| Maximum retail application (13 lots) | 325 | ₹1,90,450 |
Bids must be in multiples of 25 shares. Axis Capital, BNP Paribas, ICICI Securities and Jefferies India are the book-running lead managers.
Key Dates for the IPO
| Event | Date |
|---|---|
| Anchor investor bidding | October 14 |
| Issue opens | October 15 |
| Issue closes | October 19 |
| Allotment finalisation (expected) | October 21 |
| Listing on stock exchanges | October 23 |
About Bonfiglioli Transmissions and Its Financials
Bonfiglioli Transmissions India is a subsidiary of Italy-based Bonfiglioli S.p.A. It provides mechanical and electromechanical power transmission and industrial drive solutions, including precision-engineered gear motors, gearboxes and drive systems used by original equipment manufacturers (OEMs) and end-users. It serves customers in industrial automation, off-highway mobility and wind energy, among other applications.
For the half ended June 2026, the company reported profit of ₹148.6 crore, up 29.2% from ₹115 crore a year earlier. Revenue from operations rose 17.9% to ₹1,131.9 crore from ₹960.4 crore.
| Indicator | Year earlier | Latest period | Change |
|---|---|---|---|
| Profit | ₹115 crore | ₹148.6 crore | About +29.2% |
| Revenue from operations | ₹960.4 crore | ₹1,131.9 crore | About +17.9% |
What to Watch
Bidding stays open until October 19, so the final subscription across the QIB, NII and retail categories is still to come. Allotment is expected by October 21 and listing is scheduled for October 23.
