Bonfiglioli Transmissions IPO GMP ₹180 Today (15 Oct), Price Band, Subscription Status, Allotment Date
Bonfiglioli Transmissions IPO is a Mainboard issue open from 15–19 October. The company is raising ₹2,534 Cr at a price band of ₹558 to ₹586 per share. One lot is 25 shares.
Bonfiglioli Transmissions IPO GMP (grey market premium)
₹180
Implied listing gain: ₹766 (30.71%)
Subscription
0.12x
Times the issue was bid for
On the GMP figure: grey market premium is quoted by informal dealers. No exchange publishes it, no regulator oversees it, and it is not a forecast of the listing price. Issues quoting a strong premium have listed below their issue price. Weigh the financials and the risk factors in the RHP well above this number.
Bonfiglioli Transmissions IPO Review & Analysis
Our reading of the numbers below — growth rates, margins, pricing and demand are calculated from the company's own filed figures, not copied from anywhere.
Minimum retail investment
₹14,650
25 shares at the upper band of ₹586
Retail limit
13 lots
the most that fits under the ₹2 lakh retail cap
Funds blocked after close
~4 days
from the closing date to listing
Return on equity
25.66%
ROE
Peer listing record
17 of 22 listed above issue price
median listing move +16.6%
Total subscription
0.12x
across all categories
GMP-implied listing gain
+30.7%
₹180 premium on a ₹586 issue price
Promoter holding
100% → 77%
diluted by 23 percentage points
Bonfiglioli Transmissions is a mainboard issue raising ₹2,534 Cr, offered in a band of ₹558–₹586 per share. At the upper end that is 58.6 times the ₹10 face value, so ₹576 of every share subscribed is share premium rather than capital.
A retail application for Bonfiglioli Transmissions needs one lot of 25 shares, which works out to ₹14,650 at the upper band of ₹586. That is close to the ₹15,000 ceiling SEBI expects for a single retail lot, so an investor applying at cut-off is committing nearly the full retail limit per application. Retail applications are capped at ₹2,00,000, which here is 13 lots; bidding above that moves the application into the non-institutional category, and the large-HNI bucket begins at ₹10,00,000, or about 69 lots.
For Bonfiglioli Transmissions, bidding runs 15-19 October, allotment is finalised on 21 Oct 2026, the shares list on 23 Oct 2026. Applications that do not receive an allotment have their UPI mandate released around 2 days after the issue closes. Counting from the close of bidding, money stays blocked for roughly 4 days before listing decides what the holding is worth.
The issue is reserved 49.94% to qualified institutional buyers, 14.98% to non-institutional investors, 34.96% to retail. At 34.96%, the retail portion is on the narrower side, so retail allotment turns into a lottery quickly once the book fills. An oversubscribed retail portion is not allotted in proportion to the amount applied for: applications are reduced to single lots and drawn by lot, so several small applications from different PANs are more effective than one large one.
The most recent figures the company has filed cover 30 Jun 2026, which is a different length of period from 31 Dec 2025. Year-on-year growth is not stated here because the two periods are not comparable — read the reported numbers side by side rather than as a growth rate.
Recently listed companies in the same space trade at a median price-to-earnings ratio of about 12.6. Comparing that with the multiple implied by this issue's ₹558–₹586 band is a more useful test of pricing than looking at the grey market premium alone.
Subscription stands at 0.12x, which is below full. An issue must be subscribed at least once over to proceed at all; if it closes under that, the offer is withdrawn and all application money is refunded.
MUFG Intime India Pvt.Ltd. is the registrar for this issue, which means the allotment status for Bonfiglioli Transmissions is published on their portal from 21 Oct 2026. A PAN, application number or demat client ID is enough to look it up; the credited shares also appear in the demat account itself a day or so before listing.
A grey market premium of ₹180 on the upper band of ₹586 implies a listing gain of roughly 30.7%. The grey market is unofficial and unregulated, the premium can change daily, and it has no bearing on allotment — treat it as a sentiment reading, not a forecast.
What looks good
- Return on equity of 25.66% is strong for the sector.
What to watch
- The issue is only 0.12x subscribed, and an issue that fails to reach full subscription is withdrawn and the money returned.
The figures above are worked out from the issue's own filed numbers and are for information only. They are not investment advice — read the RHP before you apply.
| IPO Date | 15–19 October |
| Face Value | ₹10 Per Share |
| Price Range | ₹558 to ₹586 |
| Issue Size | ₹2,534 Cr |
| Lot Size | 25 Shares |
| Allotment Date | 21 Oct 2026 |
| Listing Date | 23 Oct 2026 |
| Registrar | MUFG Intime India Pvt.Ltd. |
Quota Allocation
| Category | Allocation |
|---|
| Retail Investors | 34.96% |
| QIB (Qualified Institutional Buyers) | 49.94% |
| HNI (High Net Worth Individuals) | 14.98% |
Subscription Status (Category-wise)
| Investor Category | Subscription (times) |
|---|
| Non Institutional | 0.18x |
| Retail Individual | 0.17x |
| Total | 0.12x |
IPO Details
| Total Issue Size | 4,32,39,042 shares (agg. up to ₹2,534 Cr) |
| Offer for Sale | 4,32,39,042 shares of ₹10 (agg. up to ₹2,534 Cr) |
| Share Holding Pre Issue | 18,79,95,834 shares |
| Share Holding Post Issue | 18,79,95,834 shares |
IPO Timetable (Tentative)
| IPO Open | Thu, Oct 15, 2026 |
| IPO Close | Mon, Oct 19, 2026 |
| Allotment | Wed, Oct 21, 2026 |
| Refund | Thu, Oct 22, 2026 |
| Credit of Shares | Thu, Oct 22, 2026 |
| Listing | Fri, Oct 23, 2026 |
Issue Reservation
| Investor Category | Shares | % of Total Issue | Max Allottees |
|---|
| QIB | 2,15,94,521 | 49.94% | NA |
| − Anchor Investor | 1,29,56,712 | 29.97% | NA |
| − QIB (Ex. Anchor) | 86,37,809 | 19.98% | NA |
| NII (HNI) | 64,78,356 | 14.98% | NA |
| − bNII > ₹10L | 43,18,904 | 9.99% | 12,339 |
| − sNII < ₹10L | 21,59,452 | 4.99% | 6,169 |
| Retail | 1,51,16,165 | 34.96% | 6,04,646 |
| Total | 4,32,39,042 | 100.00% | |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|
| Retail (Min) | 1 | 25 | ₹14,650 |
| Retail (Max) | 13 | 325 | ₹1,90,450 |
| S-HNI (Min) | 14 | 350 | ₹2,05,100 |
| S-HNI (Max) | 68 | 1700 | ₹9,96,200 |
| B-HNI (Min) | 69 | 1725 | ₹10,10,850 |
IPO Anchor Investors
| Bid Date | Wed, Oct 14, 2026 |
| Shares Offered | 1,29,56,712 |
| Anchor Portion (₹ Cr.) | 759.26 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Nov 20, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Jan 19, 2027 |
Investor Category Reservations
| Category | Limit | Cut-off |
|---|
| RII | Up to ₹2 Lakhs | Yes |
| sNII | ₹2 Lakhs – ₹10 Lakhs | No |
| bNII | Above ₹10 Lakhs | No |
| Employee (EMP) | Up to ₹5 Lakhs | Yes |
| Employee + RII/NII | Up to ₹5Lakhs (EMP) + RII/NII limits | Yes (EMP/RII) |
Company Financials (Restated)
| Period Ended | 30 Jun 2026 | 31 Dec 2025 | 30 Jun 2025 | 31 Dec 2024 | 31 Dec 2023 |
|---|
| Assets | 1,495.82 | 1,439.46 | 1,387.94 | 1,299.08 | 1,414.72 |
| Total Income | 1,139.17 | 2,023.59 | 966.50 | 1,861.16 | 1,701.80 |
| Profit After Tax | 148.58 | 237.87 | 114.97 | 195.16 | 148.49 |
| EBITDA | 223.87 | 370.77 | 176.43 | 295.07 | 243.89 |
| NET Worth | 1,034.27 | 992.99 | 875.45 | 860.95 | 801.36 |
| Reserves and Surplus | 846.27 | 867.66 | 750.12 | 735.62 | 670.24 |
| Total Borrowing | | | | | 110.79 |
| Amount in ₹ Crore |
Recently Listed IPOs in Industrial Products
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|
| Tempsens Instruments (India) Ltd. | Mainboard | ₹650.00 Cr | ₹300 | 34.05 | ₹586.65 | +95.55% | ₹587.05 |
| MV Electrosystems Ltd. | Mainboard | ₹290.00 Cr | ₹425 | -68.88 | ₹624.00 | +46.82% | ₹977.60 |
| Indo-MIM Ltd. | Mainboard | ₹3,812.11 Cr | ₹485 | 44.01 | ₹741.75 | +52.94% | ₹1,221.10 |
| Lohia Corp Ltd. | Mainboard | ₹1,101.28 Cr | ₹425 | 23.21 | ₹494.60 | +16.38% | ₹623.70 |
| Omnitech Engineering Ltd. | Mainboard | ₹583.00 Cr | ₹227 | 54.47 | ₹204.93 | -9.72% | ₹644.95 |
| Sollfege Smart Electronics Ltd. | SME | ₹21.78 Cr | ₹55 | 15.15 | ₹99.18 | +80.33% | ₹80.80 |
| SJP Ultrasonics Ltd. | SME | ₹23.45 Cr | ₹67 | 12.07 | ₹73.01 | +8.97% | ₹83.13 |
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| FX Multitech Ltd. | SME | ₹45.24 Cr | ₹116 | 10.86 | ₹129.20 | +11.38% | ₹126.60 |
| SpectraA Technology Solutions Ltd. | SME | ₹42.52 Cr | ₹118 | 10.31 | ₹235.40 | +99.49% | ₹252.95 |
| Kwick Forensic Solutions Ltd. | SME | ₹50.77 Cr | ₹90 | 11.25 | ₹157.50 | +75.00% | ₹228.70 |
| Skytech Infinite Platform Ltd. | SME | ₹22.68 Cr | ₹77 | 12.58 | ₹70.30 | -8.70% | ₹31.60 |
| Merritronix Ltd. | SME | ₹70.03 Cr | ₹149 | 11.83 | ₹297.25 | +99.50% | ₹455.30 |
| Adisoft Technologies Ltd. | SME | ₹74.10 Cr | ₹172 | 12.82 | ₹215.25 | +25.15% | ₹302.40 |
| Highness Microelectronics Ltd. | SME | ₹21.67 Cr | ₹120 | 16.7 | ₹129.75 | +8.12% | ₹283.55 |
| Tipco Engineering India Ltd. | SME | ₹60.55 Cr | ₹89 | 8.73 | ₹84.79 | -4.73% | ₹307.40 |
| Gabion Technologies India Ltd. | SME | ₹29.16 Cr | ₹81 | 12.18 | ₹93.41 | +15.32% | ₹126.90 |
| Admach Systems Ltd. | SME | ₹42.60 Cr | ₹239 | 19.56 | ₹200.75 | -16.00% | ₹498.25 |
| Apollo Techno Industries Ltd. | SME | ₹47.96 Cr | ₹130 | 9.43 | ₹151.95 | +16.88% | ₹89.51 |
| HRS Aluglaze Ltd. | SME | ₹50.92 Cr | ₹96 | 26.07 | ₹132.30 | +37.81% | ₹258.50 |
| Purple Wave Infocom Ltd. | SME | ₹31.45 Cr | ₹126 | 9.33 | ₹130.50 | +3.57% | ₹455.05 |
| Shining Tools Ltd. | SME | ₹17.10 Cr | ₹114 | 16.18 | ₹98.80 | -13.33% | ₹192.00 |
Key Performance Indicator (KPI)
| KPI | Dec 31, 2025 | Jun 30, 2026 |
|---|
| ROE | 25.66% | 14.66% |
| ROCE | 18.62% | 20.03% |
| RoNW | 23.96% | 14.37% |
| PAT Margin | 11.90% | 13.04% |
| EBITDA Margin | 18.37% | 19.78% |
| NAV | 52.82 | 55.02 |
| P/B (x) | 11.09 | 10.65 |
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|
| Promoter and Promoter Group | 100% | 77% |
| Public | | 23.00% |
| Total | 100% | 100% |
Offer For Sale - Selling Shareholder
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|
| Bonfiglioli SPA | Promoter | 4,32,39,042 | 2,533.81 |
| Total | | 4,32,39,042 | 2,533.81 |
IPO Details
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|
| Brokers | 7 | 1 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
About Bonfiglioli Transmissions
Bonfiglioli Transmissions Ltd 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.
In India, it operates three manufacturing facilities—two in Tamil Nadu (Thirumudivakkam and Mannur) and one in Maharashtra (Talegaon). Together, these facilities produced over 341,133 gear motors and gearboxes in Fiscal 2025. As of June 30, 2026, we had 215 suppliers in India and 70 suppliers outside India.
The company also offers strong after-sales support through two dedicated channels. This includes a team of in-house service engineers based at our 13 sales offices across India, with three offices located at the manufacturing sites in Thirumudivakkam, Mannur, and Talegaon.
As of June 30, 2026, the company had 71 touchpoints for customer sales and service across India, including three manufacturing facilities, 13 sales offices, 13 authorized third-party service facilities and 44 authorized dealers with 54 outlets. As of June 30, 2026 the company a network of 285 suppliers of which 215 were located in India and 70 were located overseas including in Italy, China, USA and Germany.
As of June 30, 2026, the company had 1,032 personnel involved in various aspects of our operations, which includes onroll employees and contract workers.
End-to-end technology-led power transmissions 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.
State-of-the-art manufacturing infrastructure.
Experienced management team delivering strong financial performance
Bonfiglioli Transmissions IPO — common questions
What is Bonfiglioli Transmissions IPO?
Bonfiglioli Transmissions IPO is a Mainboard issue open from 15–19 October. The company is raising ₹2,534 Cr at a price band of ₹558 to ₹586 per share. One lot is 25 shares.
When does Bonfiglioli Transmissions IPO open and close?
The issue is open 15–19 October. Bids must be placed, and any UPI mandate approved, before the cut-off on the closing day.
What is the Bonfiglioli Transmissions IPO price band?
The price band is ₹558 to ₹586 per equity share, against a face value of ₹10. Retail investors may bid at cut-off, meaning they accept the final discovered price within this band.
What is the Bonfiglioli Transmissions IPO lot size?
The minimum application is 25 shares, and bids must be in multiples of that lot.
What is the Bonfiglioli Transmissions IPO issue size?
The total issue size is ₹2,534 Cr.
How is Bonfiglioli Transmissions IPO reserved between investor categories?
The issue is reserved as retail 34.96%, QIB 49.94%, HNI 14.98%. If the retail portion is oversubscribed, allotment there is decided by a lottery on lot-sized applications rather than in proportion to the amount applied for.
When is the Bonfiglioli Transmissions IPO allotment date?
Basis of allotment is expected to be finalised on 21 Oct 2026. You can check your status on the registrar's website (MUFG Intime India Pvt.Ltd.) using your PAN.
When does Bonfiglioli Transmissions IPO list?
Listing is expected on 23 Oct 2026, following the T+3 timeline that applies to Indian IPOs.
