Bonfiglioli Transmissions sets price band at Rs 558-586 for Rs 2,534-crore IPO

What happened

Bonfiglioli Transmissions Ltd has fixed the price band for its Rs 2,534-crore initial public offering at Rs 558 to Rs 586 per share. The issue opens for public subscription on October 15 and closes on October 19. Bidding for anchor investors will take place on October 14.

The public offering reflects sustained momentum in India's primary markets, where deep domestic liquidity and steady economic growth continue to support major stock listings.

Key details of the offer

The public issue is entirely an offer for sale (OFS) of up to 4.32 crore equity shares by promoter entity Bonfiglioli S.p.A. Because there is no fresh equity issue component, all net proceeds will go directly to the Italian parent company rather than entering the Indian business entity.

At the upper end of the price band, the share sale values Bonfiglioli Transmissions at approximately Rs 11,000 crore. The equity shares are scheduled to list on both the BSE and the National Stock Exchange on October 23.

Axis Capital, BNP Paribas, ICICI Securities and Jefferies India are acting as the book-running lead managers for the IPO.

Operations and domestic footprint

Bonfiglioli Transmissions operates as the Indian subsidiary of Italy-based Bonfiglioli SpA. The company designs and manufactures precision-engineered power transmission and drive equipment, including gear motors, gearboxes and industrial drive systems for heavy engineering and manufacturing sectors.

While the Italian parent group has operated for nearly 70 years globally, the Indian operation has been established for more than 25 years, benefiting from expanding domestic infrastructure demand and localized industrial capabilities.

Busy primary market lineup

Bonfiglioli's issue is part of a crowded primary market slate opening on October 15. Three other companies are tapping equity investors during the same window, spanning industrial automation, defence hardware and medical tech.

Technology-led manufacturing firm Zetwerk Business is launching the week's largest offering at Rs 5,012 crore. Defence electronics maker Tonbo Imaging India is raising Rs 852 crore, while cardiac stent manufacturer Sahajanand Medical Technologies has set a Rs 475-crore issue size. Combined, the four public listings will offer over Rs 8,800 crore in fresh equity and secondary shares to domestic and global investors.