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Bondada Engineering IPO
Bondada Engineering Limited IPO opens for subscription from 18th August to 22nd August. In this article, we have gathered all the information related to the IPO, from objectives to GMP.
For now, let’s start with the objectives of Bondada Engineering Limited IPO.
Objectives of Bondada Engineering IPO
Bondada Engineering Limited will use the capital raised through its IPO towards the funding of the following objects:
- To meet long-term working capital requirements:The company will use the net proceeds from the issue to fund its day-to-day operations, such as paying salaries, buying inventory, and covering other expenses. This is important for the company to continue its operations and grow.
- General corporate purposes: This is a catch-all phrase that can describe any other uses for the net proceeds from the issue. This could include expanding the company’s operations, investing in new technologies, or repaying debt.
Bondada Engineering IPO Details
| IPO Date | Aug 18, 2023 to Aug 22, 2023 |
| Listing Date | 30 August 2023 |
| Face Value | ₹10 per share |
| Price | ₹75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,696,000 shares (aggregating up to ₹42.72 Cr) |
| Fresh Issue | 5,696,000 shares (aggregating up to ₹42.72 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 15,906,059 |
| Share holding post issue | 21,602,059 |
Bondada Engineering IPO Tentative Timetable
| IPO Open Date | Friday, 18 August 2023 |
| IPO Close Date | Tuesday, 22 August 2023 |
| Basis of Allotment | Friday, 25 August 2023 |
| Initiation of Refunds | Monday, 28 August 2023 |
| Credit of Shares to Demat | Tuesday, 29 August 2023 |
| Listing Date | Wednesday, 30 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 22, 2023 |
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Bondada Engineering IPO Reservation
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 288,000 (5.06%) |
| Other Shares Offered | 2,704,000 (47.47%) |
| Retail Shares Offered | 2,704,000 (47.47%) |
| Total Shares Offered | 5,696,000 (100%) |
Bondada Engineering IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| HNI (Min) | 2 | 3,200 | ₹240,000 |
Bondada Engineering IPO Financials (Restated Consolidated)
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 17,091.69 | 15,761.73 | 25,115.46 |
| Revenue | 28,832.29 | 33,420.96 | 37,095.77 |
| Profit After Tax | 920.55 | 1,013.53 | 1,825.19 |
| Net Worth | 4,775.88 | 5,789.41 | 7,837.54 |
| Reserves and Surplus | 4,693.88 | 5,707.41 | 6,246.93 |
| Total Borrowing | 4,667.31 | 3,803.23 | 8,422.65 |
Bondada Engineering IPO Promoters
Raghavendra Rao Bondada, Neelima Bondada and Satyanarayana Baratam are the Promoters of Bondada Engineering Limited.
Here’s the pre-issue and post-issue share holding of the promoters:
| Pre Issue Share Holding | 86.00% |
| Post Issue Share Holding | 63.33% |
Bondada Engineering Limited Company Background
Bondada Engineering Limited (BEL) is an engineering, procurement, and construction (EPC) and operations and maintenance (O&M) company that provides services to the telecom and solar energy industries.
Founded in 2012, BEL has over 550 employees and a manufacturing facility in Keesara Mandal, Medchal, Telangana.
BEL’s EPC services include cell site construction, erection, operation, and maintenance of telecom towers, supplying poles and towers, laying and maintaining optical fiber cables, and power equipment.
The company has installed over 11,600 telecom towers and poles, of which 7,700 were installed in the last three fiscal years.
BEL also provides O&M services to telecom and tower operating companies, such as cell site maintenance, preventive and corrective maintenance of passive infrastructure and equipment, backup power systems, manning services, surveillance, and corrective maintenance of optical fiber cable routes.
BEL’s manufacturing facility has an installation capacity of ~12 thousand MTPA for tower fabrication.
The company is committed to providing high-quality services to its customers and is committed to sustainability.
Bondada Engineering Limited Industry Overview
Telecom tower base in India, which stood at nearly 7,54,000 in FY 2023, is expected to reach nearly 1.6 million by FY 2030.
Approximately 237 GW of solar capacity and the corresponding cumulative EPC business of ₹ 1,10,000 crores would be added between 2022 and 2030.
Bondada Engineering IPO GMP Today
| Date | GMP |
|---|---|
| 19 August 2023 | ₹20 |
| 18 August 2023 | ₹20 |
| 17 August 2023 | ₹15 |
| 16 August 2023 | ₹15 |
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