Bhadora Industries was incorporated on April 1986. The company makes industrial cables under the "Vidhut Cables" brand, supplying electricity transmission and distribution products to government power companies and EPC firms. It offers PVC, LV, XLPE, and aerial bunched cables
| Bidding Dates |
|---|
| 04 Aug 2025 - 06 Aug 2025 |
| Subscription |
|---|
| 0.96x Undersubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,32,800 | 2 | 2 | 1200 | 5.4 M | ₹97 - ₹103 | 65.59 % | ₹523.8 M - ₹556.2 M | RHP DOC |
Bhadora Industries IPO SUBSCRIPTION STATUS
06 Aug '25Bhadora Industries IPO overall subscription rate was 0.96 times the total available shares
Bhadora Industries IPO retail subscription rate was 1.3 times in the retail segment
Bhadora Industries IPO non-institutional investor subscription rate was 2.19 times in the non-institutional investor category
Bhadora Industries IPO Qualified Institutional Bidder subscription rate was 0.36 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
06 Aug 2025 (Day 3) | 1.3x | 2.19x | 0.36x |
05 Aug 2025 (Day 2) | 0.28x | 0.57x | - |
04 Aug 2025 (Day 1) | 0.12x | 0.5x | - |
Bhadora Industries FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 110.1 | 10.8 | 2.3 | -5.0 | 15.4% |
| FY24 | 81.4 | 5.0 | 2.8 | 2.2 | 8.3% |
| FY23 | 18.4 | 0.2 | 1.2 | 1.2 | 5.6% |
Bhadora Industries IPO SUBSCRIPTION STATUS DETAILS
Bhadora Industries had 5.4 M shares on offer
Bhadora Industries IPO offer price was in the range ₹97 - ₹103
Bhadora Industries IPO minimum Investment was ₹232800
Bhadora Industries IPO issue size was ₹ 523.8 M - ₹ 556.2 M
Bhadora Industries had a minimum lot size of 1200 Shares per application
Bhadora Industries NUMBER OF SHARES ON OFFER
Bhadora Industries IPO IMPORTANT DATES
| Issue Open Date | 04 Aug 2025 |
| Issue close Date | 06 Aug 2025 |
| Allotment Date | 07 Aug 2025 |
| Refund Date | 08 Aug 2025 |
| Demat Account Credit Date | 08 Aug 2025 |
| Listing Date | 11 Aug 2025 |
| Listing on Exchange(s) | NSE |
| Bhadora Industries Allotment Status | Exchange/ Registrar |
Bhadora Industries IPO subscription opened on 04 Aug 2025, and closed on 06 Aug 2025
IPO allotment for Bhadora Industries was finalized on Thursday, 07 Aug 2025
IPO listing for Bhadora Industries was on NSE on Monday, 11 Aug 2025
Bhadora Industries IPO LISTING GAINS
| Issue Price (adjusted) | 103.0 |
| Listing Open Price | 101.0 |
| Listing Close Price | 106.0 |
| Listing Gain% | -1.9% |
| Current Gain% | -10.6% |
Bhadora Industries 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bhadora Industries Ltd. | 92.1 | 171.3 | 17.2 | -2.2 | 1.4 | 12.1 | 8.6 | 125.7 | 13.6 | 10 | -7.7 | 5.4 | -7.7 |
| Polycab India Ltd. | 9218 | 138893.7 | 48.5 | 1.7 | 4.5 | 22.2 | 13 | 29120 | 28.8 | 2672 | 32.3 | 190.1 | 29.2 |
| KEI Industries Ltd. | 5600 | 53536.3 | 53.7 | 1.6 | 4.3 | 13.8 | 10.2 | 11906.3 | 21.4 | 918.4 | 31.9 | 104.3 | 34.4 |
| R R Kabel Ltd. | 2759.5 | 31211.5 | 51.4 | 0.6 | 2.9 | 19.1 | 10.6 | 9778.8 | 27.5 | 492.2 | 58 | 53.7 | 80.3 |
| Finolex Cables Ltd. | 1024.6 | 15670.9 | 22 | 11.9 | 2.5 | 11.7 | 10.2 | 6486.6 | 17.6 | 713.7 | 1.8 | 46.7 | 1.8 |
| Universal Cables Ltd. | 1411.2 | 4896.2 | 24.4 | 0.3 | 1.5 | 8.9 | 3.8 | 3051 | 25.5 | 163.1 | 82.5 | 57.7 | 71.7 |
Bhadora Industries INFORMATION ON IPO ISSUE
About Bhadora Industries
Bhadora Industries was incorporated on April 1986. The company makes industrial cables under the "Vidhut Cables" brand, supplying electricity transmission and distribution products to government power companies and EPC firms. It offers PVC, LV, XLPE, and aerial bunched cables
Object of the Issue
- Part finance the cost of establishing new manufacturing facility to expand the production capabilities of industrial cables and conductors at the proposed new facility.
- Funding working capital requirements of the company
- General corporate purposes
Bhadora Industries - PROMOTERS
| Name |
|---|
| Shashank Bhadora |
| Pradeep Bhadora |
| Anil Bhadora |
Bhadora Industries - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Shashank Bhadora | Chairman & Managing Director |
| Pradeep Bhadora | Executive Director |
| Anil Bhadora | Executive Director |
| Radhika Tripathi | Independent Director |
| Rahul Verma | Independent Director |
| Manish Joshi | Independent Director |
Bhadora Industries Book Running Lead Manager
Unistone Capital Private Limited
mb@unistonecapital.com
Bhadora Industries Registrar to the issue
MUFG Intime India Private Limited
bhadora.ipo@linkintime.co.in
Bhadora Industries Strengths
Government vendor
The company is an approved vendor for various government electricity boards and has supplied industrial cables for central schemes like the RDSS and RECPDCL projects in Jammu & Kashmir. With over 30 years of industry experience, it consistently meets state-specific eligibility criteria such as past supply record and technical compliance
Quality standards
The company maintains rigorous quality standards across its operations and is certified for quality management, environmental management, and occupational health and safety. It conducts thorough raw material and product testing at all manufacturing stages through its dedicated quality division
Long-term sustainability
The company has demonstrated consistent growth, regulatory compliance, and adaptability to industry changes. From manufacturing PVC cables to introducing XLPE and Aerial Bunch cables, it has continually expanded its product portfolio. Its future growth plans include manufacturing high-value products
Bhadora Industries Risks
Raw material volatility
The company’s raw material costs form a significant part of its total expenses. Any fluctuation in the prices, availability, or quality of key inputs like aluminium wire rods, polyvinyl chloride, or cross-linked polyethylene can adversely affect its business performance and cash flows
Revenue dependence
The company primarily generates revenue through sales to Engineering, Procurement, and Construction (EPC) contractors. Any slowdown in this segment could severely impact its operations and profitability
Single facility risk
The company relies solely on a single manufacturing unit in Tikamgarh, Madhya Pradesh. This exposes it to operational disruptions due to equipment failure, natural calamities, regulatory issues, or other unforeseen events
IPO FAQs
The promoters of the company are Shashank Bhadora, Pradeep Bhadora and Anil Bhadora.
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 97.0 - 103.0.
The IPO application opens on Aug 04, 2025 and closes on Aug 06, 2025.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 232,800.0, the maximum value for this IPO is Rs 247,200.0.
This IPO will be allotted on Aug 07, 2025.
The refund will be credited to your account on Aug 08, 2025.
The allotted shares will be credited to your demat on Aug 08, 2025.
Bhadora Industries Ltd.’s shares listed on the stock exchanges on Aug 11, 2025.