Bonfiglioli Transmissions’s initial public offering (IPO) on Monday will open for subscription on October 15, with the price band set at ₹558-586 per share, according to an exchange filing.
According to the official press release, the issue will close on October 19, while bidding for anchor investors will take place on October 14. Investors can bid for a minimum of 25 shares and in multiples of 25 thereafter.
The IPO comprises an offer for sale of up to 43.24 million equity shares by the company’s promoter, Bonfiglioli.
Since the issue is entirely an offer for sale, the proceeds will go to the selling shareholder, and the company will not receive funds from the share sale.
Bonfiglioli Transmissions manufactures mechanical and electro-mechanical power transmission equipment and industrial drive solutions, including gear motors, gearboxes and drive systems.
As per the filing, the company operates in India under the Bonfiglioli brand, which has a global presence of nearly 70 years and more than 25 years of operations in the country.
The company proposes to list its equity shares on the BSE and the National Stock Exchange. Axis Capital, BNP Paribas, ICICI Securities and Jefferies India are the book-running lead managers to the issue.
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