Bondada Engineering to raise `42.72 crore via IPO
With a price band of Rs 75 per equity share, the IPO subscription will open on August 18, and close on August 22, 2023
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Hyderabad Hyderabad-based Bondada Engineering Ltd, a telecom and solar EPC services company, has announced its Initial Public Offering (IPO) with a price band of Rs 75 per equity share and will be listed on BSE SME. The company’s IPO subscription will open on August 18, 2023, and close on August 22, 2023.
The public issue of face value Rs 10 per equity share comprises of fresh issuance of 56,96,000 equity shares worth Rs 42.72 crore. Investors can bid for a minimum of 1,600 equity shares in the retail category and multiples of 1,600 equity shares in the HNI category. Vivro Financial Services Private Ltd is the lead manager and KFin Technologies is the registrar to the Issue. Raghavendra Rao Bondada, Chairman and Managing Director of Bondada Engineering Ltd, said, “We are raising funds for the company’s long-term working capital and also for BSNL’s 4G saturation project worth Rs 1,150 crore. Our turnover last year was Rs 370 crore, and we have orders for the next two years worth Rs 1,520 crore.”
Bondada Engineering clocked a profit of Rs 18.25 crore in FY23, against Rs 10.13 crore in the previous financial year. The company’s revenue growth increased by 9.84 per cent during FY23 to Rs 370.59 crore from Rs 334.11 crore in previous financial year.
