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. 1. Shashank Bhadora (Chairman & Managing Director)
2. 2. Pradeep Bhadora (Executive Director)
3. 3. Anil Bhadora (Executive Director)
4. 4. Manish Joshi (Independent Director)
5. 5. Rahul Verma (Independent Director)
6. 6. Radhika Tripathi (Independent Director)