Pokharna Research

Bonfiglioli Transmissions IPO

Mainboard IPO · Open now · price band ₹558–₹586

₹558–₹586price band
₹14,650minimum (25 shares)
₹2,534 crissue size
Closes Mon 19 OctOpen now

Key points

  • 100% offer for sale: the company gets no money. Existing shareholders are selling ₹2,534 cr of shares.
  • GMP ₹130–132 (+22.2% to +22.5%) over ₹586. Unofficial, changes often.
  • Year to Dec 2025: income ₹2,024 cr (+8.7%), profit ₹238 cr (+21.9%).

Subscription so far: 0.99x

QIB0.16x
NII1.71x
Retail1.16x
Employees2.10x

Times the shares on offer that investors have applied for, by category (exchange data, updates a few times a day).

Timetable

  1. OpensThu 15 Oct
  2. ClosesMon 19 Oct
  3. AllotmentWed 21 Oct
  4. RefundThu 22 Oct
  5. Shares in dematThu 22 Oct
  6. ListingFri 23 Oct

Dates after the closing day are tentative and can shift by a day.

Why is Bonfiglioli Transmissions raising money?

New money to company (fresh issue): ₹0 crTo selling shareholders (OFS): ₹2,534 cr

This IPO is entirely an offer for sale. The company does not receive any money; the ₹2,534 cr goes to the shareholders who are selling. The business itself gets no new capital from this IPO.

Grey market premium (GMP)

₹130 to ₹132GMP per share
₹716 to ₹718implied listing price
+22.2% to +22.5%over the ₹586 upper price

Unofficial. GMP is what traders in an unregulated market say they will pay before listing. No exchange publishes it, it can change several times a day and it is often wrong on listing day. Range from 2 market websites, checked 18 Oct 2026, 03:23 PM IST.

About Bonfiglioli Transmissions

Bonfiglioli Transmissions Ltd is one of India’s leading technology-driven companies providing mechanical and electro-mechanical power transmission and industrial drive solutions. The company designs and manufactures high-precision, mission-critical gearboxes and drive systems that are used across a wide range of industries.

Product Portfolio: Its product portfolio includes low, medium and heavy duty gear motors and gearboxes in torque capacities ranging from 13 Nm to 1,400 kNm Helical, bevel, planetary and worm gearboxes and gear motors, electric motors; variable frequency drives, servo motors and drives, and precision drives for robotics & automation solutions.

The business serves three main market segments based on end-use applications, including Industry and Automation Solutions, Off-Highway Mobility, and Wind Industry. In the Industry and Automation Solutions segment, it is among the largest manufacturers of gearboxes and drives in India, serving both original equipment manufacturers (OEMs) and end-users.

Financials (₹ crore)

₹ croreJun 2026Dec 2025Dec 2024Dec 2023
Total Income1,1392,0241,8611,702
Profit After Tax149238195148
EBITDA224371295244
Net worth1,034975861801
Borrowing–111
Assets1,4961,4391,2991,415

Restated figures from the offer document. A part-year period (for example 3 months to June) is not comparable with a full year.

Valuation and returns

46.32xP/E before the IPO · after: 37.07x
₹11,016.56 Crmarket value at the upper price
100% → 77%promoter holding, before → after
Jun 2026Dec 2025
ROE14.66%25.66%
ROCE20.03%18.62%
RoNW14.37%23.96%
PAT Margin13.04%11.90%
EBITDA Margin19.78%18.37%
NAV55.0252.82
P/B (x)10.6511.09

P/E = price ÷ earnings per share. A negative P/E means the company made a loss. Compare with listed peers in the same business before reading much into it.

Promoters: Sonia Bonfiglioli, Luciano Bonfiglioli, Luisa Lusardi, Bon-FI S.R.L and Bonfiglioli S.P.A.

Issue details

Price band
₹558–₹586
Lot size
25 shares
Minimum investment
₹14,650 (1 lot at ₹586)
Total issue size
₹2,534 cr (4.32 crore shares)
Fresh issue / OFS
OFS only
Face value
₹10 per share
Reserved for
QIB 50% · NII 15% · Retail 35%
Anchor investors
₹759 cr (already allotted)
Employee discount
₹29 per share
Retail limit
up to ₹2,00,000
UPI mandate deadline
19-Oct-2026 (up to 5:00 PM)
Listing on
BSE, NSE
Lead managers
Axis Capital Limited, BNP Paribas, ICICI Securities Limited, Jefferies India Private Limited
Registrar (allotment status)
MUFG Intime India Private Limited · bonfigliolitransmissions.ipo@in.mpms.mufg.com

Offer document (RHP) on NSE: download. It is long; the "Objects of the Offer" and "Risk Factors" chapters matter most.

Quick answers

Does Bonfiglioli Transmissions get the IPO money?

No. The IPO is 100% offer for sale, so all ₹2,534 cr goes to the selling shareholders.

What is the minimum investment in the Bonfiglioli Transmissions IPO?

One lot of 25 shares, which costs ₹14,650 at the upper price of ₹586.

When will Bonfiglioli Transmissions list?

The tentative listing date is Fri 23 Oct, with allotment on Wed 21 Oct.

Company figures are from the offer document as summarised by market websites; issue details and subscription are from NSE. Updated 18 Oct 2026, 03:23 PM IST. Education only, not investment advice. Read the offer document, especially the risk factors, before applying. All IPOs →