Bondada Engineering was established on March 29, 2012. The company specializes in providing engineering, procurement, and construction services, as well as operations and maintenance services to customers across India in the telecom and solar energy industries.
| Bidding Dates |
|---|
| 18 Aug 2023 - 22 Aug 2023 |
| Subscription |
|---|
| 106.59x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1600 | 5.7 M | ₹75 | 73.63 % | ₹427.2 M | RHP DOC |
Bondada Engineering IPO SUBSCRIPTION STATUS
22 Aug '23Bondada Engineering IPO overall subscription rate was 106.59 times the total available shares
Bondada Engineering IPO retail subscription rate was 135.53 times in the retail segment
Bondada Engineering IPO non-institutional investor subscription rate was 365.74 times in the non-institutional investor category
Bondada Engineering IPO Qualified Institutional Bidder subscription rate was 8.59 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
22 Aug 2023 (Day 3) | 135.53x | 365.74x | 8.59x |
21 Aug 2023 (Day 2) | 33.29x | 20.89x | 3.85x |
18 Aug 2023 (Day 1) | 6.11x | 2.43x | 0x |
Bondada Engineering FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY23 | 182.5 | 3705.9 | -323.9 | -361.3 | 8.4% |
| FY22 | 101.4 | 3341.1 | 107.1 | 91.0 | 6% |
| FY21 | 92.1 | 2870.9 | 30.4 | 11.4 | 6.1% |
Bondada Engineering IPO SUBSCRIPTION STATUS DETAILS
Bondada Engineering had 5.7 M shares on offer
Bondada Engineering IPO offer price was ₹75
Bondada Engineering IPO minimum Investment was ₹120000
Bondada Engineering IPO issue size was ₹ 427.2 M
Bondada Engineering had a minimum lot size of 1600 Shares per application
Bondada Engineering NUMBER OF SHARES ON OFFER
Bondada Engineering IPO IMPORTANT DATES
| Issue Open Date | 18 Aug 2023 |
| Issue close Date | 22 Aug 2023 |
| Allotment Date | 25 Aug 2023 |
| Refund Date | 28 Aug 2023 |
| Demat Account Credit Date | 29 Aug 2023 |
| Listing Date | 30 Aug 2023 |
| Listing on Exchange(s) | BSE |
| Bondada Engineering Allotment Status | Exchange |
Bondada Engineering IPO subscription opened on 18 Aug 2023, and closed on 22 Aug 2023
IPO allotment for Bondada Engineering was finalized on Friday, 25 Aug 2023
IPO listing for Bondada Engineering was on BSE on Wednesday, 30 Aug 2023
Bondada Engineering IPO LISTING GAINS
| Issue Price (adjusted) | 15.0 |
| Listing Open Price | 142.5 |
| Listing Close Price | 149.6 |
| Listing Gain% | 90.0% |
| Current Gain% | 1878.0% |
Bondada Engineering Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bondada Engineering Ltd. | 296.7 | 640.9 | 18 | -0.3 | 1.2 | 30.2 | 10.1 | 2645.5 | 86.3 | 184.2 | 78.6 | 16.5 | -65.4 |
| Larsen & Toubro Ltd. | 4056 | 570643.6 | 34.4 | 7.6 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 107.2 | 113192.2 | 645 | 4.5 | 7.6 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 233.4 | 48660.2 | 55.6 | -1.8 | 2.4 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 95.3 | 25739.1 | 35.7 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1317.2 | 22494.2 | 21.6 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Bondada Engineering INFORMATION ON IPO ISSUE
About Bondada Engineering
Bondada Engineering was established on March 29, 2012. The company specializes in providing engineering, procurement, and construction services, as well as operations and maintenance services to customers across India in the telecom and solar energy industries.
Object of the Issue
- To meet long-term working capital requirements
- General corporate purposes
Bondada Engineering - PROMOTERS
| Name |
|---|
| Raghavendra Rao Bondada |
| Neelima Bondada |
| Satyanarayana Baratam |
Bondada Engineering Lead Manager of the Issue
Vivro Financial Services Private Limited
investors@vivro.net
Bondada Engineering Registrar to the issue
Kfin Technologies Private Limited
bel.ipo@kfintech.com
Bondada Engineering Strengths
Project management and execution
The company has undertaken projects for over 11,600 telecom sites across 7 states in India. In the past three fiscal years, it has successfully executed contracts totalling more than Rs 515.1 crore in the fields of telecom tower EPC and solar EPC segments
Long-term contracts
The company holds long-term contracts for telecom and solar projects, which offer a clear outlook on its future revenue streams
Diverse business operations
The company's distinctive blend of expertise in telecom and solar EPC, O&M, OFC network services, construction services, and manufacturing of telecom towers and construction products gives it a unique advantage over its competitors
Bondada Engineering Risks
Dependent on few customers
The company relies on and generates a significant portion of its revenue from a limited number of customers. Over-dependence on a single customer could expose it to liquidity risks that may have an adverse impact on the business
Competitive environment
The company operates within a competitive environment and may face challenges in effectively competing with similar businesses. Such competition could potentially lead to a material adverse impact on the business, financial condition, and results of operations
Huge borrowings
As of March 31, 2023, the total borrowings amounted to Rs 133 crore, including unsecured loans aggregating to Rs 37.1 crore from related parties. It's important to note that these unsecured loans from related parties may be recalled by the promoter at any time
IPO FAQs
Bondada Engineering Ltd. IPO listing opened at Rs 142.50 while the issue price was Rs 75.00 giving 90.00% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 15.00 giving 1878.00% gains since its IPO listing.
The promoters of the company are Raghavendra Rao Bondada, Neelima Bondada and Satyanarayana Baratam.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 75.0 - 75.0.
The IPO application opens on Aug 18, 2023 and closes on Aug 22, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Aug 25, 2023.
The refund will be credited to your account on Aug 28, 2023.
The allotted shares will be credited to your demat on Aug 29, 2023.
Bondada Engineering Ltd.’s shares listed on the stock exchanges on Aug 30, 2023.