Bhadora Industries IPO
Bhadora Industries Limited · Industrial Cables
- Price band
- ₹97–103per share
- Issue size
- ₹55.62 Cr54,00,000 shares
- Face value
- ₹10per equity share
- Lot size
- 1,200 sharesMin. ₹1.24 L at the upper price
- Anchor biddingFri, 2025
- OpensMon, 2025
- ClosesWed, 2025
- AllotmentThu, 2025
- ListingMon, 2025
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue
- Fresh issue
- 54,00,000 shares (₹55.62 Cr)
- Offer for sale
- None
- Total issue
- 54,00,000 shares (₹55.62 Cr)
- Market maker portion
- 2,73,600 shares
- Face value
- ₹10
- Listing at
- NSE Emerge
- Promoter holding
- 92.42% → 65.59%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail41.0%
- Anchor35.0%
- Big NII11.8%
- Small NII5.9%
- Market maker6.3%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 17,95,200 | 43.74% | 35% |
| Non-institutional investors (NII) | 7,77,600 | 18.95% | 15% |
| Small NII (₹2–10 lakh) | 2,59,200 | 6.32% | — |
| Big NII (above ₹10 lakh) | 5,18,400 | 12.63% | — |
| Qualified institutional buyers (QIB) | 25,53,600 | 62.22% | 50% |
| Anchor investors | 15,31,200 | 37.31% | — |
| Market maker | 2,73,600 | — | — |
Source: ProspectusUpdated
Lot size
Amounts at ₹103 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Big NII (above ₹10 lakh) | 2 | 2,400 | ₹2.47 L |
| Retail individual investors | 1 | 1,200 | ₹1.24 L |
| Small NII (₹2–10 lakh) | 2 | 2,400 | ₹2.47 L |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once it is added from a licensed data source.
Valuation
FY 2024-25, pre-issue- EPS (basic)
- ₹8.17
- EPS (basic) (FY 2023-24)
- ₹3.75
- EPS (basic) (FY 2022-23)
- ₹0.14
- EPS (diluted)
- ₹8.17
- EPS (diluted) (FY 2023-24)
- ₹3.75
- EPS (diluted) (FY 2022-23)
- ₹0.14
- RoNW
- 51.51%
- RoNW (FY 2023-24)
- 48.80%
- RoNW (FY 2022-23)
- 3.47%
- NAV per share
- ₹15.86
- NAV per share (FY 2023-24)
- ₹7.69
- NAV per share (FY 2022-23)
- ₹3.94
Source: ProspectusUpdated
Financials
Standalone, restated · ₹ crore| Period ended | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|
| Revenue from operations | 110.11 | 81.39 | 18.44 |
| Total income | 110.69 | 83.27 | 18.81 |
| EBITDA | 16.98 | 6.79 | 1.04 |
| Profit after tax | 10.79 | 4.96 | 0.18 |
| Net worth | 20.94 | 10.15 | 5.20 |
| Reserves and surplus | 7.74 | 8.50 | 3.55 |
| Total assets | 48.76 | 25.87 | 20.13 |
| Total borrowing | 19.67 | 9.47 | 10.13 |
FY 2024-25 vs FY 2023-24: revenue +35.3%, profit after tax +117.7%.
Source: ProspectusUpdated
About the company
The company manufactures industrial cables, including PVC, low voltage, LT aerial bunched and XLPE cables, used for electricity transmission and distribution. It sells mainly to government discoms and EPC contractors, operating under the Vidhut Cables brand. It was converted from a partnership firm into a public limited company in 2024.
- Incorporated
- 2013
- Sector
- Industrial Cables
- CIN
- U31300MP2013PLC030767
- Website
- www.vidhutcables.com
Source: ProspectusUpdated
Promoters and shareholders
| Name | Type | Before issue | After issue |
|---|---|---|---|
| Pradeep Bhadora | Promoter | 44.44% | 31.54% |
| Anil Bhadora | Promoter | 25.57% | 18.14% |
| Shashank Bhadora | Promoter | 18.41% | 13.07% |
| Sandhya Bhadora | Promoter group | 1.00% | 0.71% |
| Prachi Bhadora | Promoter group | 1.00% | 0.71% |
| Shikha Bhadora | Promoter group | 1.00% | 0.71% |
| Shaifali Bhadora | Promoter group | 1.00% | 0.71% |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Setting up a new cable manufacturing facility in Khargone, Madhya Pradesh | 22.32 |
| Funding working capital requirements | 20.00 |
| General corporate purposes | 7.88 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Over three decades of experience in the cable business under the Vidhut Cables brand.
- Revenue and profit grew sharply across the three years shown in the restated financials.
- Product range covers PVC, LV, LT aerial bunched and XLPE cables.
Risks
- Heavy dependence on top ten customers, who made up about 87% of revenue in FY 2024-25.
- Raw material costs form most of total expenses and are volatile.
- Revenue is concentrated in EPC contracts and government discom tenders, with no long-term customer contracts.
- Pending legal proceedings involve a promoter and director, and one customer has blacklisted the company.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (set at allotment) appear here after the shares list on NSE Emerge.
Frequently asked questions
When does the Bhadora Industries IPO open and close?
According to the Prospectus, the issue opens on Monday, 4 August 2025 and closes on Wednesday, 6 August 2025.
What is the Bhadora Industries IPO price band?
The price band is ₹97–103 per share, with a face value of ₹10.
What is the lot size of the Bhadora Industries IPO?
One lot is 1,200 shares, which is ₹1.24 L at ₹103 per share.
Where will Bhadora Industries shares list?
On NSE Emerge. The tentative listing date is Monday, 11 August 2025.
Who is the registrar of the issue?
MUFG Intime India Private Limited (SEBI registration INR000004058). Allotment status is checked on the registrar's website.
How will the money raised be used?
₹22.32 Cr for setting up a new cable manufacturing facility in Khargone, Madhya Pradesh, ₹20 Cr for funding working capital requirements, ₹7.88 Cr for general corporate purposes.