Bondada Engineering IPO: Bondada Engineering IPO opens for subscription on Friday, August 18, and closes on Tuesday, August 22. Bondada IPO price band has been fixed at ₹75 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter. Bondada Engineering IPO issue price is 7.5 times the face value of the equity share.
Bondada IPO consists of fresh issue of 56,96,000 equity shares aggregating to ₹42.72 crore. There’s no offer for sale (OFS) component. According to company’s Red Herring Prospectus (RHP) it intends to use the gross proceeds raised through the issue for meeting long-term working capital requirements, and general corporate purposes.
The company’s promoters are Raghavendra Rao Bondada, Neelima Bondada, and Satyanarayana Baratam.
Bondada Engineering IPO’s basis of allotment of shares will be finalised on Friday, August 25 and the company will initiate refunds on Monday, August 28, while the shares will be credited to the demat account of allottees on Tuesday, August 29. Bondada shares are likely to be listed on BSE SME on Wednesday, August 30.
Bondada Engineering IPO’S lead manager is Vivro Financial Services Private Ltd, and the registrar is KFin Technologies Ltd.
Bondada Engineering Ltd is a Hyderabad-based infrastructure firm that serves customers across India in the telecom and solar energy industries by offering engineering, procurement, and construction (EPC) and operations and maintenance (O&M) services.
Bondada Engineering provides a full range of passive telecom infrastructure services, including turnkey options for building cell sites, operating and maintaining telecom towers, constructing optical fibre cables, supplying power equipment and more. They have made great progress, installing over 11,600 telecom towers and poles, and have finished 7,700 installations during the last three fiscal years.
Reports state that Bondada Engineering made a profit of ₹18.25 crore in the fiscal year FY23 as compared to ₹10.13 crore the year before. Revenue climbed by 9.84% during FY23, from ₹334.11 crore to ₹370.59 crore, mostly as a result of more solar projects being completed, which resulted in an increase in EPC services revenue.
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Updated: 11 Aug 2023, 09:43 PM IST