Bonfiglioli Transmissions Limited’s roughly ₹2,534 crore IPO drew bids for about 46 times the shares available, with proceeds going to an existing shareholder ahead of a planned Oct. 23 listing.
Bonfiglioli S.p.A. is selling up to 43,239,042 shares at ₹558 to ₹586 each. The Indian maker of gearboxes, gear motors and industrial drive systems is issuing no new shares, so the offer will not raise money for its business. At the top of the price band, the minimum application of 25 shares costs ₹14,650.
Public bidding closed Oct. 19. The offer timetable set Oct. 21 for allotment and Oct. 22 for refunds and share credits. Applicants can check MUFG Intime India Private Limited’s public-issue application page for Bonfiglioli allotment status when it becomes available, using a PAN, application number or DP/client ID. The National Stock Exchange of India (NSE) also provides an IPO verification page with allotment information from the registrar.
IPO Guru quoted an unofficial grey-market premium of ₹135 a share at 1:18 a.m. ET (05:18 UTC) on Oct. 21. Added to the ₹586 upper price band, that indicates ₹721 a share, about 23% above the offer price. The quote is a time-specific indication and does not establish a listing price. It followed grey-market readings of 21% to 22% on the final bidding day.
The next scheduled step is the Oct. 23 debut on BSE and the NSE.
