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Bonfiglioli Transmissions IPO- Complete Overview
Bonfiglioli Transmissions IPO is a Mainboard IPO with an issue size of Rs. 2,533.66 Cr Shares by Bonfiglioli Transmissions Limited, which is one of India’s leading technology-driven companies providing mechanical and electro-mechanical power transmission and industrial drive solutions. The company designs and manufactures high-precision, mission-critical gearboxes and drive systems that are used across a wide range of industries.
Product Portfolio: Its product portfolio includes low, medium, and heavy-duty gear motors and gearboxes in torque capacities ranging from 13 Nm to 1,400 kNm; helical, bevel, planetary and worm gearboxes and gear motors; electric motors; variable frequency drives, servo motors and drives; and precision drives for robotics & automation solutions.
The business serves three main market segments based on end-use applications, including Industry and Automation Solutions, Off-Highway Mobility, and Wind Industry. In the Industry and Automation Solutions segment, it is among the largest manufacturers of gearboxes and drives in India, serving both original equipment manufacturers (OEMs) and end-users.
This new IPO is to be launched on 15 October 2026, and its ‘initial public offering’ will end on 19 October 2026.
Bonfiglioli Transmissions IPO Details
This Mainline IPO comprises a wholly an offer for sale of 4.32 Cr shares. The Bonfiglioli Transmissions IPO listing date (expected) might be Friday, Oct 23, 2026, and the listing on the BSE and NSE.
The Bonfiglioli Transmissions IPO price band is Rs. 558 to Rs. 586.
IPO Timetable (Tentative)
The Bonfiglioli Transmissions IPO date is from Oct 15 to Oct 19, with IPO allotment on Oct 21, refund initiation on Oct 22, and listing on Oct 23, 2026.
|
Events |
Date |
|
IPO Opening Date |
Oct 15, 2026 |
|
IPO Closing Date |
Oct 19, 2026 |
|
IPO Allotment Date |
Oct 21, 2026 |
|
Refund Initiation |
Oct 22, 2026 |
|
IPO Listing Date |
Oct 23, 2026 |
If you want to apply for the IPO, click to open a Demat Account.
Industry Overview & Outlook
India’s drive market grew at an 8.0% CAGR from Fiscal 2023 to Fiscal 2026 and is expected to accelerate further, reaching a 9.6% CAGR through Fiscal 2031.
Bonfiglioli Transmissions Company Financial Performance
Bonfiglioli Transmissions- Profit & Loss
(Amount in Cr)
Bonfiglioli Transmissions- Balance Sheet
(Amount in Cr)
Cash Flows
The cash flows for various activities are shown below:
(Amount in Mn)
|
Net Cash Flow In Multiple Activities |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Net Cash Flow Operating Activities |
1,876.81 |
1,883.50 |
1,982.28 |
|
Net Cash Flow Investing Activities |
(523.79) |
1,093.95 |
(999.23) |
|
Net Cash Flow Financing Activities |
(1,267.88) |
(2,436.10) |
(1,164.44) |
Bonfiglioli Transmissions IPO- Business Model
The company designs and manufactures specialised gearboxes and drive systems, then sells them mainly to OEMs in industrial automation, construction/mining equipment, and the wind energy sector.
|
Business Vertical |
Approx. Share of Revenue |
What they sell |
Key Customers / Industries |
|
Industry & Automation Solutions |
~41% |
Low, medium and heavy-duty gear motors & gearboxes (helical, bevel, planetary, worm), electric motors, VFDs, servo motors, precision drives |
Material handling, chemicals, pharma, mining, food & beverage, textiles, rubber & plastics, construction |
|
Off-Highway Mobility |
~25% |
Track drives, swing drives, drum drives, wheel drives, cutter drives, hoist drives |
Excavators, concrete equipment, mining equipment, road construction, agriculture, material handling (JCB, Hyundai, Ajax, Schwing Stetter, Wirtgen, etc.) |
|
Wind Industry |
~30–32% |
Yaw drives and Pitch drives for wind turbines (225 kW to 5 MW) |
Wind turbine manufacturers (Suzlon, Nordex, Senvion, etc.) |
Revenue Bifurcation
(Source: RHP)
The Objective of the Issue
The offer is 100% OFS; hence, the company shall not receive any proceeds from the issue.
Peers of Bonfiglioli Transmissions
|
Name of the Company |
Face Value (₹ per share) |
EPS Basic (₹) |
P/E (x) |
|
Elecon Engineering Company Limited |
1 |
15.20 |
31.63 |
|
Shanthi Gears Limited |
1 |
9.99 |
63.39 |
|
Schaeffler India Limited |
2 |
73.60 |
53.74 |
|
Timken India Limited |
10 |
55.16 |
57.66 |
Evaluation of P/E Ratio
Considering the period ended on 31 Dec 2025 with an EPS of Rs. 12.65 from the last year, the resulting P/E ratio is 46.32x.
Bonfiglioli Transmissions IPO Valuation
|
KPI |
Value (June 30, 2026) |
|
ROE |
14.66% |
|
ROCE |
20.03% |
|
RoNW |
14.37% |
|
PAT Margin |
13.04% |
|
EBITDA Margin |
19.78% |
IPO's Strengths
-
End-to-end technology-led power transmission and industrial drive solutions provider across business verticals.
-
Highly diversified offerings across business verticals and customer industries.
-
Established parentage and trusted brand backed by global and local R&D capabilities.
-
Deep relationships with marquee customers.
IPO's Weaknesses
-
The company is vulnerable to supply disruption risk because it relies on a small number of suppliers for components and raw materials, with its largest supplier a related party accounting for 15.53% to 19.98% of total purchases throughout recent periods.
-
The company's operations could be negatively impacted by increases in the cost of components and raw materials or by the imposition of import taxes on goods from nations including Vietnam, Japan, China, and Italy.
-
Any unplanned or protracted disruption caused by things like equipment failure, labor disputes, or utility interruptions at the company's production sites in Thirumudivakkam, Mannur, and Talegaon.
Bonfiglioli Transmissions IPO GMP Today
Bonfiglioli Transmissions IPO GMP is Rs. 170 as of October 12, 2026, when this information was written.
IPO Other Details
|
IPO Opening & Closing Date |
15 Oct 2026 to 19 Oct 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 558 to Rs. 586 |
|
Lot Size |
25 Shares |
|
Issue Size |
4,32,39,042 shares (Rs. 2,534 Cr) |
|
Offer for Sale |
4,32,39,042 shares (Rs. 2,534 Cr) |
|
Fresh Issue |
- |
|
Listing At |
BSE, NSE |
|
Issue Type |
Book Built Issue IPO |
|
Registrar |
MUFG Intime India Pvt. Ltd. |
IPO Grey Market Premium
The current IPO GMP is available on our live IPO GMP page, where you can get the GMP today for open Mainboard and SME IPOs.
Bonfiglioli Transmissions IPO Lot Size
The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (25 Shares) amounting to Rs. 14650 and 13 Lots (325 Shares) for Rs. 1,90,450 respectively, while for HNI investors, the minimum Lot is 14 (350 Shares) amounting to Rs. 2,05,100.
|
Minimum Lot Investment (Retail) |
1 Lot |
|
Maximum Lot Investment (Retail) |
13 Lots |
|
S-HNI (Minimum) |
14 Lots |
|
S-HNI (Maximum) |
68 Lots |
|
B-HNI (Minimum) |
69 Lots |
Bonfiglioli Transmissions IPO Reservation
|
Institutional Share Portion |
50% |
|
Retail Investors' Share Portion |
35% |
|
Non-Institutional Shares Portion |
15% |
Promoters and Management of Bonfiglioli Transmissions Ltd.
-
Sonia Bonfiglioli
-
Luciano Bonfiglioli
-
Luisa Lusardi
-
Bon-FI S.R.L
-
Bonfiglioli S.P.A.
|
Pre-Issue Promoter Shareholding |
100% |
|
Post-Issue Promoter Shareholding |
77% |
IPO Lead Managers
Axis Capital Ltd.
Dividend Policy
The company has paid a dividend of Rs. 7.40, Rs. 5.50, and Rs. 5 in the year ended 31 Dec 2025, 31 Dec 2024, and 31 Dec 2023 respectively.
Bonfiglioli Transmissions IPO Review: Subscribe or Avoid?
Bonfiglioli Transmissions Limited is a technology-driven manufacturer of mechanical and electro-mechanical power transmission systems (gearboxes, gear motors, and industrial drives). It operates in three verticals: Industry & Automation (~41%), Off-Highway Mobility (~25%), and Wind Industry (~30–32%).
Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor.
Bonfiglioli Transmissions IPO News
Bonfiglioli Transmissions DRHP
Bonfiglioli Transmissions IPO Allotment Status
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