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Bhadora Industries IPO
Price Band
₹97.0–103.0
Issue Size
₹55.62 Cr
Lot Size
1,200 shares
Min Investment
₹247,200
2 LOTS MIN
GMP
—
Issue Price
₹103.0
Bhadora Industries IPO AI Summary
- Bhadora Industries IPO is listed on NSE SME in the Cables - Electricals sector.
- Price band: ₹97.0–₹103.0 per share, lot size 1,200 shares (min. investment ₹247,200, 2 lots minimum).
- Subscription window: 04 Aug–06 Aug 2025, listing on 11 Aug 2025.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Bhadora Industries IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 06 Aug 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Bhadora Industries IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in April 1986, Bhadora Industries Limited manufactures industrial cables for efficient electricity transmission and distribution, serving government discoms and EPC companies across various industrial sectors. The company operates under the brand name of "Vidhut Cables". The product portfolio of the company includes Polyvinyl Chloride (PVC) cables Low Voltage (LV) cables, LT Aerial Bunched Cables and Cross-Linked Polyethylene (XLPE) cables. The company's manufacturing facility is accredited by the Bureau of Indian Standards (BIS) and certified in Quality Management (BIS ISO 9001:2015), Environmental Management (ISO 14001:2015), and Occupational Health and Safety (ISO 45001:2018). The company sells its products in the states of Andhra Pradesh, Assam,Bihar, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, J&K, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh and Uttarakhand. The company supply its products to State Electricity Boards, domestic and EPC companies across India. The company's manufacturing unit is located in Tikamgarh, Madhya Pradesh covering an area of 15028 Square Feet. As of June 30, 2025, the company had 87 employees in various departments. Competitive Strength Visionary Leadership and Management. Approved Vendor in Government Schemes. Highest standards of quality across our products, processes, and materials. Sustainable Business Operations.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 48.76 | 25.87 | 20.13 |
| Total Income | 110.69 | 83.27 | 18.81 |
| Profit After Tax | 10.79 | 4.96 | 0.18 |
| EBITDA | 16.98 | 6.79 | 1.04 |
| NET Worth | 20.94 | 10.15 | 5.20 |
| Reserves and Surplus | 7.74 | 8.50 | 3.55 |
| Total Borrowing | 19.67 | 9.47 | 10.13 |
Key Ratios
EPS
₹8.17
NAV
₹15.86
ROE
51.51%
ROCE
42.41%
RoNW
51.51%
P/B Value
6.49
P/E Ratio
12.6
Market Cap
₹191.58 Cr
PAT Margin
9.80%
Debt/Equity
0.94
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Dcg Cables & Wires Limited | 43.56 | 10.24% | 16.32 | 4.46 | 4.46 |
| Dynamic Cables Ltd | 157.51 | 17.34% | 16.59 | 27.13 | 27.13 |
| Bhadora Industries Limited This IPO | 15.86 | 51.51% | — | 8.17 | 8.17 |
Promoters
Shashank Bhadora, Pradeep Bhadora and Anil Bhadora
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Part finance the cost of establishing new manufacturing facility to expand production capabilities of cables at Plot Nos. 188/1, Village Panwa Tehsil Kasrawad, District Khargone, Madhya Pradesh, India (Proposed new facility) 22.32 2 Funding working capital requirements of the Company 20.00 3 General Corporate Purposes 7.88 4 Issue Expenses 5.42 Total 55.62
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹18.81 Cr in the year ending 31 Mar 2023, rising to ₹83.27 Cr by 31 Mar 2024, and further increasing to ₹110.69 Cr by 31 Mar 2025. This indicates a strong growth trajectory in revenue over the reported periods.
Profit Trend
Profit After Tax was ₹0.18 Cr in the year ending 31 Mar 2023, increasing to ₹4.96 Cr by 31 Mar 2024, and further rising to ₹10.79 Cr by 31 Mar 2025. This consistent increase in profit demonstrates the company's improving profitability.
Valuation
At the issue price of ₹103.0, Bhadora Industries has an implied P/E ratio of 12.6, compared to its peers who are trading at P/E ratios ranging from 16.32 to 16.59.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the price at which an IPO is expected to list in the stock market compared to its issue price. A positive GMP suggests strong demand, while a negative GMP indicates weaker interest. However, GMP is not a guaranteed indicator of actual listing performance.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy, considering factors such as the company's growth potential and market conditions.
Who May Want to Wait
Investors who prefer stable returns and are risk-averse may want to avoid IPOs in sectors with high competition and volatility, such as the electrical cables industry.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make when shares are sold on the stock market after the IPO. However, there are risks involved, including market fluctuations and the possibility that shares may not perform as expected on the listing day.
This evaluation is generated from Bhadora Industries's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Bhadora Industries IPO?
The price band of Bhadora Industries IPO is ₹97.0–₹103.0 per share.
When does Bhadora Industries IPO open and close?
Bhadora Industries IPO opens on 04 August 2025 and closes on 06 August 2025.
When does Bhadora Industries IPO list on the stock exchange?
Bhadora Industries IPO listed on 11 August 2025 at ₹103.0.
What is the lot size for Bhadora Industries IPO?
The lot size for Bhadora Industries IPO is 1200 shares, requiring a minimum investment of ₹247,200 (2 lots).
What is the price band for the IPO?
The price band for the IPO is ₹97.0 to ₹103.0.
What is the minimum investment required?
The minimum investment required is ₹247,200.
What is the lot size for the IPO?
The lot size for the IPO is 1200 shares.
When is the IPO open for subscription?
The IPO is open for subscription from 4th August 2025 to 6th August 2025.
When will the shares be listed?
The shares are expected to be listed on 11th August 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
04 Aug 2025
Close
06 Aug 2025
Allotment
07 Aug 2025
Listing
11 Aug 2025
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