Bhadora Industries Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹103
Per ShareLot Size
1200 Shares
Minimum Investment
₹1,23,600
Issue Size
₹55.62 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Bhadora Industries Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
92.42%
Promoter Holding (Post-Issue)
65.59%
Issue Type
Book Building - SME
ISIN
INE0ZRC01017
About the Company
We are engaged in business of manufacturing of industrial cables which provide efficient electricity transmission and distribution solutions to the government discoms and EPC companies which cater to the diverse electrical connectivity needs of various industrial sectors. We operate under brand name of "Vidhut Cables". With over three decades of experience in cable industry, we have consistently evolved to meet the dynamic requirements of the industry. We started with production of Polyvinyl Chloride (PVC) cables, and we later expanded our range to include Low Voltage (LV) cables, LT Aerial Bunched Cables, Cross-Linked Polyethylene (XLPE) cables. These products are designed for specific functions in electricity transmission and distribution. Each product serves a specific function in electricity transmission, from reliable power distribution in low voltage applications to highperformance cables used in overhead power lines. We ensure all our cables meet industry standards for safety and performance, while also staying aligned with the technology and requirements of the sector.
Industry Overview
The India wires and cables market size was valued at USD 9.32 billion in 2024. The market is projected to grow from USD 10.01 billion in 2025 to USD 17.08 billion by 2032, exhibiting a CAGR of 7.94% during the forecast period. India has observed a substantial rise in the demand for wires and cables due to the country's ambitious renewable energy goals and the growing awareness of the potential of renewable energy, such as solar and wind power. In solar power plants, photovoltaic (PV) projects require a high-quality cabling system that connects all electrical components with minimal energy loss. The significant growth of solar panels in India is creating a considerable demand for solar cables. According to industry standards, a 1 MW solar project will use about 50 km of solar cable. Considering the Indian government's target of 100 GW of installed solar capacity by 2022, India's solar cable requirement alone is more than 5 million kilometres.
Company History
Our Company was initially established as Partnership Firm under the Partnership Act, 1932 ("Partnership Act") pursuant to Deed of Partnership dated April 29, 1986. The Partnership firm was registered on May 14, 1986 with the Registrar of Firms, Tikamgarh, Madhya Pradesh. The Partnership Firm was converted into Private Limited Company under Part IX of the Companies Act, 1956 in the name and style of "Bhadora Industries Private Limited" on May 17, 2013, vide Certificate of incorporation issue by Registrar of Companies, Madhya Pradesh. Subsequently, pursuant to resolutions passed by our Board of Directors at its meeting held on May 14, 2024 and by our Shareholders at the extra-ordinary general meeting held on May 16, 2024, our Company was converted into a public limited company and the name of our Company was changed to "Bhadora Industries Limited" and a fresh certificate of incorporation was issued by the Registrar of Companies, Central Processing Centre dated August 07, 2024. The corporate identity number of our Company is U31300MP2013PLC030767.
Products & Services
- The Company is engaged in business of manufacturing of industrial cables which provide efficient electricity transmission and distribution solutions to the government discoms and EPC companies.
Growth Strategy
- Setting up a New Manufacturing Plant.
- Increase in Geographical reach by exploring foreign markets.
- Expand Customer in EPC (Engineering, Procurement, and Construction) Segment.
- Strengthen our marketing network.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public issue of up to 54,00,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Bhadora Industries Limited ("Company" or "Bhadora" or "Issuer") for cash at a price of Rs. 103 per equity share (Including a Share Premium of Rs. 93 per Equity Share) ("Issue Price") aggregating up to Rs. 55.62 crores of which up to 2,73,600 equity shares of face value of Rs. 10 each for cash at a price of Rs. 103 per equity share including a share premium of Rs. 93 per equity share aggregating to Rs. 2.82 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 51,26,400 equity shares of face value of Rs. 10/- each at a price of Rs. 103 per equity share aggregating to Rs. 52.80 crores is herein after referred to as the "Net Issue". The issue and the net issue will constitute 29.03% and 27.56% respectively of the post issue paid up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Approved Vendor in Government Schemes.
- Visionary Leadership and Management.
- Quality Assurance.
- Sustainable Business Operations.
- The company is highly dependent on its top ten customers and the loss of any of these customers or a substantial reduction in their purchasing activity would have a significant negative impact on its business.
- The company raw material cost constitutes a significant percentage of its total expenses. Any increase in the prices, availability and quality of raw materials could adversely affect the company reputation, business, results from operations, financial conditions and cash flows. The company relies on few qualified suppliers for its primary raw material, loss of these suppliers may have an adverse effect on its business, results of operations and financial conditions.
- Its primary source of revenue largely depends on the sale to EPC Contractors. Consequently, any downturn in sales within this segment would significantly hamper its operations and profitability.
- Its Business is dependent on the company Continuing relationships with its customers, with whom the company has not entered into long term arrangements. Further the company has been procuring business from Government entities, which are undertaken through bidding process and failure to procure such tenders on a continuous basis could adversely impact its revenues and profitability.
- The company derives a significant portion of its revenue from certain of its products. If sales volume or price of such products declines in the future, or if the company is unable to sell such products for any reason, its business, financial condition, cash flows and results of operations could be adversely affected.