About Bonfiglioli Transmissions IPO
Bonfiglioli Transmissions IPO Details
Bonfiglioli Transmissions IPO is a 100% book-built issue of 4.69 crore equity shares, entirely an offer for sale (OFS), with a face value of ₹10 per share. The company filed its DRHP with SEBI on February 9, 2026.
The price band and official dates of subscription and listing will be announced by the company later, but the shares are supposed to be listed on the BSE and the NSE platforms. The book-running lead managers (BRLMs) of this issue are Axis Capital, BNP Paribas, ICICI Securities and Jefferies India.
Bonfiglioli Transmissions IPO Date & Timeline
Bonfiglioli Transmissions Ltd. officially filed its Draft Red Herring Prospectus (DRHP) on February 9, 2026. However, the specific Bonfiglioli Transmissions IPO date and subscription timeline remain unannounced. Following regulatory approval, the company will finalise the price band and bidding dates. Once cleared, the schedule for anchor allotment, public bidding and the final listing on the exchange will be formally disclosed.
Bonfiglioli Transmissions IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
Bonfiglioli Transmissions IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 10 per Equity Share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Book Built Issue |
| Total Issue Size | 4,69,98,959 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | - |
| Offer for Sale | - |
| Net Offered to Public | - |
| Issue Type | 100 % Book Built Offer |
| Listing At | BSE and NSE |
| Share Holding Pre Issue | 18,79,95,834 shares |
| Share Holding Post Issue | 18,79,95,834 shares |
Bonfiglioli Transmissions IPO GMP
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The Bonfiglioli Transmissions IPO GMP is currently trading at ₹[.], reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹[.], which is [.]% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
Company Background
Bonfiglioli Transmissions Ltd. was incorporated in June 1998 as ‘Bonfiglioli Deepak Private Limited,’ and later changed its name to Bonfiglioli Transmissions Limited. The company was converted to a public limited company in September 2025. The registered office of the company is located in Kancheepuram, Tamil Nadu. The company is part of the globally renowned Bonfiglioli Group, with its promoter, Bonfiglioli S.p.A., having a nearly 70-year legacy. Over more than 25 years of operations in India, it has established itself as a leading manufacturer of mission-critical gearboxes and drive systems.
The company is one of India’s largest technology-led mechanical and electro-mechanical power transmissions and industrial drive solutions providers. The company manufactures a wide range of mission-critical and highly precision-engineered gearboxes; with this, the company has maintained its establishment in India for more than 25 years and is operating globally across 80 countries through 17 production sites and 7 R&D centers. Internally, the company has a network of 550 distributors and a workforce of more than 5,000 employees and 21 patents granted under its brand name.
Operations & Product Range
Bonfiglioli Transmissions Ltd. is categorised under 3 vertical segments, which include I&A Solutions, Off-Highway Mobility and Wind Industries.
- The I&A Solutions include various low- to heavy-duty gear motors, helical and planetary gearboxes and electric motors.
- The off-highway mobility vertical includes swing drives, track drives, drum drives and wheel drives for use in construction, mining and agricultural equipment.
- In the wind industry, a leading firm provides yaw and pitch drives for wind turbines in sizes up to 225 kW to 5 MW.
With all 3 categories, the company caters to an enormous list of clients, numbering more than 1,000.
Facilities & Capacity
Bonfiglioli Transmissions Ltd. manufactures from its state-of-the-art manufacturing plants located in India at Thirumudivakkam, Tamil Nadu; Mannur, Tamil Nadu; and Talegaon, Maharashtra. These manufacturing plants are involved in the process of assembling products for their I&A vertical in FY24. Bonfiglioli Transmissions Ltd.'s total capacity at these manufacturing plants during FY24 stood at around 1.12 million machine hours. The company is planning to set up another manufacturing plant in Talegaon for producing heavy-duty gearboxes.
Brands & Market Presence
Bonfiglioli Transmissions Ltd. derives its competitive advantage from the internationally renowned "Bonfiglioli" brand name, representing superior engineering in power transmission systems. The brand reputation, along with the highly capable R&D facility (including an India R&D Centre) of Bonfiglioli Transmissions Ltd., has made it possible for the organisation to develop strong business relationships with various OEMs in different industrial sectors. More than 50% of the company's best clients have been working with it for more than a decade now. The market leadership position of the company has also been established through the F&S Report.
Revenue Streams & Business Model
Bonfiglioli Transmissions Ltd. generates revenue primarily from the sale of gearboxes and drive systems. For FY26 Q3, its revenue from operations was ₹14,601.74 crore. The wind industry vertical contributed the largest share (32%), followed by industry & automation (41%) and off-highway mobility (25%). A significant portion of its revenue (73% in the nine-month period) comes from customers in India, while the rest is from exports to the US, Italy, Germany and other countries. Its business model involves a mix of direct sales to OEMs and sales through a strong network of 44 dealers, 36 of whom are exclusive to Bonfiglioli.
Management & Shareholding
The promoters of Bonfiglioli Transmissions Ltd. are Sonia Bonfiglioli, Luciano Bonfiglioli, Luisa Lusardi, BON-FI S.r.l. and Bonfiglioli S.p.A. Before the IPO, the promoters held 100% of the pre-offer equity share capital of the company, but after the IPO, the promoters' ownership will reduce as shares are sold to the public.
Board & Key Management
The board members of Bonfiglioli Transmissions Ltd. are chaired by Ravindra Pisharody, with over 36 years of experience in marketing and sales, with Kennady V Kaippally as Managing Director overseeing operations functions and various management. Gatham Anandhan Balaji is the Whole-Time Director and CFO. The board includes Non-Executive Director Sonia Bonfiglioli and Independent Directors Rossella Schiavini and Ananthanarayan Sundaresan, combining global experience with Indian market expertise.
Bonfiglioli Transmissions IPO Financial Information
Latest Revenue
1,467.95
₹ Crore
Profit After Tax
1,467.95165 .19
₹ Crore
Net Worth
925.30
₹ Crore
Total Borrowing
110.79
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 1,379.08 | 1,467.95 | 1,467.95165 .19 | 925.30 | 799.97 | — | |||
| 31 Dec 2024 | 1,269.75 | 1,871.05 | 194.69 | 853.09 | 727.76 | — | |||
| 31 Dec 2023 | 1,395.87 | 1,701.98 | 149.53 | 805.34 | 674.21 | 110.79 | |||
| Amount in ₹ Crore | |||||||||
Bonfiglioli Transmissions Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 18.58% |
| ROCE | - |
| Debt/Equity | - |
| RoNW | 17.85% |
| PAT Margin | 11.25% |
| EBITDA Margin | 17.36% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 10.06 (basic/diluted) | - |
| P/E (x) | - | - |
Bonfiglioli Transmissions IPO Objectives
The company won’t get any proceeds from this issue, as the issue is a pure offer for sale (OFS). The main objectives of the IPO are:
- • Benefits of listing its shares on the stock exchanges
- • Enhancing its brand visibility and credibility
Bonfiglioli Transmissions IPO Review
Bonfiglioli Transmissions Ltd. has maintained a strong business model amid an expanding industrial scenario. Being a pure OFS, the company’s fundamentals remain unaffected by the IPO's proceeds. Financially, the company displays a trend of consistent performance, with revenues from operations rising steadily in recent years, along with a PAT margin of around 10-11%.
The company’s key strengths lie in its market leadership, diversified revenue streams and deep-rooted customer relationships. The F&S Report highlights its leadership in multiple segments, including a dominant 70% market share in the domestic wind turbine drives market. However, the DRHP also highlights potential risks, including a significant dependency on its corporate promoter, Bonfiglioli S.p.A., for technology and brand and a concentration of sales with its top 10 customers.
Conclusion
The Bonfiglioli Transmissions IPO is an opportunity for investors to invest in a growing market leader with a strong legacy, diversified operations and a clear strategy to capitalise on India's industrial and infrastructure growth. While the company benefits significantly from its association with the global Bonfiglioli Group, it also navigates risks inherent to that relationship. This issue mainly aims to provide a smooth exit to the existing shareholders and to achieve scalability and credibility by getting listed on the stock exchange.
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Competitive Strengths
Amongst the biggest technology-based providers of mechanical and electro-mechanical power transmission systems in India
Offerings across 3 major verticals—I&A, Mobility and Wind—protect against sector-specific slowdowns
Utilises the Bonfiglioli Group's global brand and a unique R&D centre in India serving all 3 verticals
A decade-long tie with top OEMs and a loyal dealer network enhance competitive advantage
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 09/02/2026 | View DRHP |
| 2 | SEBI/Exchange approval received | - | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | — | ~₹14,000 - ₹15,000 |
| Individual investors (Retail) (Max) | 13-14 | — | Up to ₹200,000 |
| S-HNI (Min) | 14-15 | — | Over ₹200,000 |
| S-HNI (Max) | 66-70 | — | Up to ₹10,00,000 |
| B-HNI (Min) | 71+ | — | Over ₹10,00,000 |