Bhadora Industries IPO Details
The key details of Bhadora Industries’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹55.62 Cr |
| Price Range | ₹97 - ₹103 |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Employee Discount | -- |
| Listing at | NSE |
| Minimum Quantity | 2,400 |
| Investment (cut-off price) | ₹2,47,200 |
| Pre IPO Promotor Holding | 92.42% |
| Post IPO Promotor Holding | 65.59% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
Bhadora Industries IPO Timelines
The IPO process for Bhadora Industries includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
04/08/2025
Start Date06/08/2025
End Date08/08/2025
Refund Initiation08/08/2025
Credit of Shares to Demat Ac11/08/2025
Listing DateBhadora Industries IPO Lot Size
The Bhadora Industries IPO has a fixed lot size of 1,200 shares, at an upper price band of ₹103 per share. For retail investors, the minimum and maximum application is 2,400 shares (2 lots) amounting to ₹2,47,200. For S-HNI investors, the minimum application is 3,600 shares (3 lots) worth ₹3,70,800, while the maximum is 9,600 shares (8 lots) amounting to ₹9,88,800. B-HNI investors need to apply for at least 10,800 shares (9 lots) totaling ₹11,12,400.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2400 | ₹2,47,200 |
| Retail Maximum | 2 | 2400 | ₹2,47,200 |
| S-HNI Minimum | 3 | 3600 | ₹3,70,800 |
| S-HNI Maximum | 8 | 9600 | ₹9,88,800 |
| B-HNI Minimum | 9 | 10800 | ₹11,12,400 |
Bhadora Industries IPO Subscription Status
The subscription status for Bhadora Industries IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 0.68x | 1.28x | 0.98x | -- | 0.96x |
IPO Performance on Listing Day
On its listing day (August 11, 2025), Bhadora Industries IPO delivered a moderate debut on the exchanges. The stock opened at ₹101, reflecting a discount of 1.94% over the issue price of ₹103. It later surged to an intraday high of ₹106.05 which was also its closing price, while the day’s low touched ₹101. The stock closed the day with a gain of 2.96% over the issue price, indicating a recovery from its weak start and moderate investor interest.
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹101.00 | ₹106.05 | ₹106.05 | ₹101.00 |
Bhadora Industries IPO Company Financials
Bhadora Industries reports robust performance in FY2025 with Total Income of ₹110.69 crores, managing expenses at ₹96.22 crores, and achieving a strong PAT (Profit After Tax) of ₹10.79 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹18.81 | ₹18.58 | ₹0.18 |
| FY 2024 | ₹83.27 | ₹76.58 | ₹4.96 |
| FY 2025 | ₹110.69 | ₹96.22 | ₹10.79 |
About Company
Incorporated in April 1986, Bhadora Industries Limited manufactures industrial cables under the brand name “Vidhut Cables,” catering to government discoms, EPC companies, and various industrial sectors. Its product range includes PVC cables, Low Voltage (LV) cables, LT Aerial Bunched Cables, and XLPE cables, which are essential for efficient electricity transmission and distribution. The company’s manufacturing facility, located in Tikamgarh, Madhya Pradesh, spans 15,028 square feet and is accredited by the Bureau of Indian Standards (BIS). It also holds certifications in Quality Management (ISO 9001:2015), Environmental Management (ISO 14001:2015), and Occupational Health and Safety (ISO 45001:2018).
Bhadora Industries distributes its products across numerous Indian states, including Andhra Pradesh, Maharashtra, Uttar Pradesh, and others, supplying primarily to State Electricity Boards and EPC companies. As of June 30, 2025, the company employed 87 staff members across various departments to support its manufacturing and distribution operations nationwide.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 1986 | Electricals | Shashank Bhadora |
Know Before Investing
Bhadora Industries IPO Strengths
- The company manufactures a range of industrial cables including Polyvinyl Chloride (PVC) cables, Low Voltage (LV) cables, Aerial Bunched Cables (AB Cable), and Cross-Linked Polyethylene (XLPE) cables, catering to varied requirements in electricity transmission and distribution.
- Bhadora Industries has been engaged in the cable manufacturing business since 1986, with its flagship brand “Vidhut Cables” operating since 1988. This long-standing presence brings in-depth knowledge and expertise in the industrial cables segment.
- Equipped with state-of-the-art machinery such as Rod Breakdown machines and Armouring machines, the company ensures efficient production processes and consistent product quality.
- The firm meets the criteria set by various government DISCOMs and EPC companies, qualifying it as a preferred supplier under multiple government schemes and contributing to steady order inflows.
- Bhadora Industries reported revenue growth from approximately ₹14.6 crore in FY22 to ₹81.4 crore in FY24, showing a sharp CAGR driven by expanding operations and increased market penetration.
- Using in-house electrolytic grade copper and aluminum wires as well as eco-friendly compounds, the company emphasizes durability, environmental sustainability, and product performance.
Bhadora Industries IPO Risks
- A significant portion of Bhadora Industries’ revenue is derived from its top ten customers. The loss of any major customer or reduction in orders from them could materially affect revenues and profitability.
- The company’s operations are working capital intensive due to inventory and receivable cycles. Inefficient working capital management could strain liquidity, requiring external borrowings at potentially higher costs.
- The cables and wires sector is highly competitive, with the presence of numerous organized and unorganized players. This could result in pricing pressure, margin erosion, and potential loss of market share.
- Apart from revenue concentration on top customers, dependency on a small number of raw material suppliers could expose the company to supply chain disruptions, cost inflation, or quality issues affecting production.
- Fluctuations in prices of key inputs like copper, aluminum, and other raw materials could increase production costs. If these cannot be passed to customers in time, profit margins may be compressed.
- The company must comply with various regulatory frameworks. Any change or stricter enforcement in taxation, environmental, or industry-specific laws could increase costs or restrict some business activities.
Swot Analysis for Bhadora Industries IPO
Strengths
Quality and Certification Focus, Approved Vendor for Government Projects, Wide Geographic Presence
Weaknesses
Modest Industry Scale, Profitability Still Catching Up, Geographic and Plant Concentration
Opportunities
Growth in Power & Infrastructure Sectors, Product Diversification, Strategic B2B Partnerships
Threats
Raw Material Price Volatility, Competition from Established & Global Players, Payment and Project Delay Risks
Company Details
Bhadora Industries Ltd.
Office No. 505, Plot No 39.405, NRK BIZ PARK PU-4, Scheme N 54, DDU Nagar, Indore – 452 010, Madhya Pradesh, India
Phone: +91-70000 61995
Email: cs@vidhutcables.com
Website: https://www.vidhutcables.com/
IPO Registar Details
MUFG Intime India Private Limited (Link Intime)
Phone: +91-22-4918 6270
Email: bhadora.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
FAQs
The key objectives of Bhadora Industries IPO are:
- Part finance the cost of establishing new manufacturing facility to expand our production capabilities of cables at Plot Nos. 188/1, Village Panwa Tehsil Kasrawad, District Khargone, Madhya Pradesh, India (“Proposed new facility”)
- Funding working capital requirements of the Company
- General Corporate Purposes
Unistone Capital Pvt Ltd is the book-running lead managers for the Bhadora Industries IPO.
Bhadora Industries has delivered exceptional growth with revenue from operations increasing from ₹14.60 crore in FY22 to ₹110.69 crore in FY25, registering a robust CAGR of approximately 134.5 percent. Total revenue also grew to ₹83.27 crore in FY24, indicating strong market traction. While the cables and wires industry faces raw material and cyclical risks, Bhadora’s rapid expansion highlights its growing presence and promising potential for continued performance in a high-demand sector.
The issue price for the Bhadora Industries IPO is set between ₹97 to ₹103 per share.
To invest in one lot of Bhadora Industries IPO, you need ₹2,32,800 at the lower price band (₹97 per share) or ₹2,47,200 at the upper price band (₹103 per share) for a lot size of 2400 shares.
Bhadora Industries IPO shares are scheduled to be listed on the National Stock Exchange (NSE) on August 11, 2025.
Refund/unblocking of funds for Bhadora Industries IPO will begin on August 8, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your Bhadora Industries IPO shares on listing day (August 11, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.