Hyderabad: Hyderabad-based Bondada Engineering Ltd, a telecom and solar EPC services company, has launched the Initial Public Offering (IPO) with a price brand of Rs 75 per equity share and to be listed on BSE SME.The company’s IPO subscription will open on August 18, 2023 and closes on August 22, 2023.

The public issue of face value of Rs 10 per equity share comprises of fresh issuance of 56,96,000 equity shares worth of Rs 42.72 crore. The investors can bid for a minimum of 1,600 equity shares in retail category and multiples of 1,600 equity shares in HNI category.

Raghavendra Rao Bondada, Chairman and Managing Director, Bondada Engineering Ltd, said, “We are raising funds for company’s long-term working capital and also for BSNL’s 4G saturation project worth of Rs 1,150 crore. Our last year turnover is Rs 370 crore and we have orders for next two years of Rs 1,520 crore.”

Bondada Engineering clocked a profit of Rs 18.25 crore in the FY23 against Rs 10.13 crore in previous financial year. The company’s revenue growth increased 9.84 per cent during the FY23 of Rs 370.59 crore from Rs 334.11 crore in previous financial year.

Vivro Financial Services Private Ltd is the lead manager and KFin Technologies is the registrar to the Issue.