Bonfiglioli Transmissions IPO: Rs 62 GMP Ahead of Listing

Bonfiglioli Transmissions is scheduled to begin trading on the BSE and NSE on Friday, October 23, 2026, following a Rs 2,533.66 crore initial public offering. Economic Times Markets reported a pre-debut grey market premium of Rs 62 per share, or about 11% above the upper end of the issue’s price band.

That unofficial premium implies a price of approximately Rs 648 against the upper band of Rs 586. It is an indication of grey market sentiment—not an exchange-traded price, a confirmed opening level or a guarantee of returns. The reported figures are a pre-listing snapshot, not a live market quote.

An offer for sale, with no fresh capital for the company

The IPO consisted entirely of an offer for sale of 4.32 crore shares. There was no fresh issue component, so the company will receive none of the IPO proceeds; the money will go to existing shareholders selling their holdings.

For investors, that distinction matters: the offering transfers ownership of existing shares rather than raising new funds for the company’s operations or expansion. The price band was Rs 558–Rs 586 per share.

Institutional demand led subscriptions

The subscription window ran from October 15 to October 19. The offer attracted bids amounting to 46.05 times the shares available overall, with qualified institutional buyers, excluding anchor investors, subscribing to their portion 120.78 times.

The non-institutional investor category recorded 40.39 times subscription, while the retail portion was subscribed 5.90 times. These figures describe demand during the bidding period, not the shares’ subsequent trading performance.

Axis Capital, BNP Paribas, ICICI Securities and Jefferies India were the book-running lead managers. MUFG Intime India was the issue registrar.

Industrial drives, automation and wind equipment

Bonfiglioli Transmissions supplies mechanical and electromechanical power-transmission and industrial-drive equipment. Its products include precision gearboxes, gear motors, electric motors, variable frequency drives, servo motors and drives used in robotics and automation.

The business serves original equipment manufacturers and end-users across three segments: Industry and Automation Solutions, Off-Highway Mobility and Wind Industry.

As of June 30, 2026, the company had three manufacturing facilities in India and a supplier base of 285—215 in India and 70 overseas. Its workforce totalled 1,032 people, including employees and contract workers.