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02 Aug, 2025
Bhadora Industries Limited IPO
Bhadora Industries Limited IPO is a bookbuilt of ₹55.62 crores consisting of 54.00 lakh fresh equity shares priced at ₹97 to ₹103 per share. Subscription for the issue will open on 4th August, 2025 and will be closed by 6th August, 2025. The IPO allotment is expected to be determined by 7th August, 2025, with the listing on NSE SME expected by 11th August, 2025. A retail investor can apply for a minimum of 2400 shares worth ₹2,32,800 and HNIs can apply for 3600 shares worth ₹3,70,800.
Company Background
Bhadora Industries Limited operates under its brand name, Vidhut Cables, which was established in the year 1988. The company specializes in the production of a wide variety of cables, prioritizing quality, safety, environment, as well as health. With the vision to establish itself as a globally leading figure in the industry, the company caters to a wide range of government as well as corporate employees.
Operations & Product Range
Facility and Services
Bhadora Industries Limited operates a manufacturing unit that covers about 15,028 square feet in Madhya Pradesh. With the help of machinery like Rodbreakdown (RBD) Machines, Stranding cum armouring machines and laying cum 48 Bobbing armouring machines for the production of PVC cables, Low Voltage cables, LT Aerial Bunched Cables as well as cross-linked polyethylene (XLPE) cables. The manufacturing unit also houses a laboratory to ensure the high quality of products.
Brand and Market Presence
The company has established itself as a rapidly growing leader in the cable industry with approved vendor status in various government tender schemes. The brand has enhanced its credibility and market access across India. The company caters to various government clients like Punjab State Power Corporation, BHEL, NESCO Utility, Power Development Department, Jammu and Kashmir and NTPC. While it caters to a varied government clientele, the company also has corporate clients like Godrej, Voltas, Nucon, Jakson, Transrail and NCC Limited.
Revenue Channels
Bhadora Industries Limited generates its primary revenue through its sales of cables like PVC cables, low voltage cables, Cross-Linked Polyethylene cables and Aerial Bunched cables. Certain revenue for the company is also generated through the expansion of HT (High Tension) cables and Medium Voltage Covered Conductors (MVCC). The company registered a sharp growth in its revenue from FY22 to FY25, from ₹14.6 crore to ₹110 crore respectively.
Management & Shareholding
Promoters and Shareholders
The promoters of Bhadora Industries Limited IPO are Mr. Shashank Bhadora, Mr. Pradeep Bhadora and Mr. Anil Bhadora. These promoters hold about 92.42% stake in the company, which is expected to go through a dilution after the listing of the company’s IPO.
Board Members
Bhadora Industries Limited is a family-driven firm who are also a part of the board, along with a few other independent or professional directors who help with overseeing operations and governance of the company. The board includes:
- 1. Shashank Bhadora (Chairman & Managing Director)
- 2. Pradeep Bhadora (Executive Director)
- 3. Anil Bhadora (Executive Director)
- 4. Manish Joshi (Independent Director)
- 5. Rahul Verma (Independent Director)
- 6. Radhika Tripathi (Independent Director)
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Bhadora Industries Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Bhadora Industries Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | August 4, 2025 to August 6, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹97 to ₹103 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 54,00,000 shares (aggregating up to ₹55.62 Cr) |
| Reserved for Market Maker | 2,73,600 shares (aggregating up to ₹2.82 Cr) NNM Securities Private Limited |
| Net Offered to Public | 51,26,400 shares (aggregating up to ₹52.80 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,32,00,000 shares |
| Share Holding Post Issue | 1,86,00,000 shares |
Bhadora Industries Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Mon, Aug 4, 2025 |
| IPO Close Date | Wed, Aug 6, 2025 |
| Tentative Allotment | Thu, Aug 7, 2025 |
| Initiation of Refunds | Fri, Aug 8, 2025 |
| Credit of Shares to Demat | Fri, Aug 8, 2025 |
| Tentative Listing Date | Mon, Aug 11, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 6, 2025 |
Bhadora Industries Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,400.00 | ₹2,47,200 |
| Individual investors (Retail) (Max) | 2 | 2,400.00 | ₹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 Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 92.42% | 65.59% |
Competitive Strength:
- 1. The company has approval to be a vendor in various government schemes across India.
- 2. With its in-house laboratory, Bhadora Industries ensures that the product quality as well as the process and material quality remain high.
- 3. Bhadora Industries Limited has sustainable business operations through the support of the company’s expert managerial team of professionals.
Bhadora Industries Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 48.76 | 110.69 | 10.79 | 20.94 | 19.67 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 25.87 | 83.27 | 5 | 10 | 9.47 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 20.13 | 18.81 | 0.18 | 5.2 | 10.13 | |||||||||||||||||||||||||||||||||||
| - | - | - | - | - | - | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| 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 (Rs) | 8.17 | 5.80 |
| P/E (x) | 12.6 | 17.76 |
Objectives
Bhadora Industries Limited IPO proceeds will be utilised to expand the company’s brand presence and name in the market. Approximately Rs 22.23 crore from the IPO proceeds will be used to establish the company’s new production facility in Madhya Pradesh. Rs 20 crore will be used for providing funds for working capital needs and the remaining shall be used to enhance general corporate functioning.
Conclusion
The Bhadora Industries Limited IPO provides a chance for investors to participate in a rapidly growing player in the cable industry of India. The company has a wide and well-established clientele comprising government as well as corporate businesses, including BHEL, NESCO Utility, NTPC, Godrej, Voltas and NCC Limited. The company’s state-of-the-art manufacturing unit helps enhance its product quality and brand credibility.
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Frequently asked Questions (FAQs )
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1. Where is the Bhadora Industries Limited manufacturing facility located?
Bhadora Industries Limited operates a manufacturing unit that covers about 15,028 square feet in Madhya Pradesh.
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2. Who are the key promoters of the company?
The promoters of Bhadora Industries Limited IPO are Mr. Shashank Bhadora, Mr. Pradeep Bhadora and Mr. Anil Bhadora.
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3. What is the company’s revenue trend?
The company registered a sharp growth in its revenue from FY22 to FY25 from ₹14.6 crore to ₹110 crore respectively.
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4. When will the Bhadora Industries Limited IPO allotment be finalised?
The IPO allotment is expected to be determined by 7th August, 2025.
