Bondada Engineering IPO will open for subscription from 18 August 2023. the company aims for an issue size of ₹42.72 Cr through this IPO.
Company Overview
| Full name | Bondada Engineering Limited |
| Sector | Infrastructure |
| Industry | Engineering – Construction |
| Company Website | https://bondada.net/ |
About Company
Incorporated in 2012, Bondada Engineering is an ISO 9001:2015 certified integrated infrastructure company engaged in the business of providing engineering, procurement, and construction (“EPC”) services and operations and maintenance (“O&M”) services to its pan India customers operating in the telecom and solar energy industry. The company has over 550 employees.
Bondada Engineering provides passive telecom infrastructure services which include turnkey services for cell site construction, erection, operation, and maintenance of telecom towers with civil, electrical, and mechanical works; supply of poles and towers, laying and maintenance of optical fiber cables, supply of power equipment and other telecom infrastructure related services to major telecom companies and telecom tower operators in India. The company has installed over 11,600 telecom towers and poles out of which, it has installed over 7,700 telecom towers and poles in the last three fiscal.
The company also provides O&M services to telecom and tower operating companies such as cell site maintenance with preventive and corrective maintenance of passive infrastructure and equipment, backup power systems, manning services and supply of riggers, surveillance, and corrective maintenance of optical fiber cable routes and other maintenance related facilities. Bondada’s manufacturing facility is located in Keesara Mandal, Medchal, Telangana, with an installation capacity of ~12 thousand MTPA for tower fabrication.
The Objective of the Issue
- To meet long-term working capital requirements,
- General corporate purposes.
IPO Timetable
| IPO Opening date | 18 August 2023 |
| IPO Closing | 22 August 2023 |
| Basis of Allotment | 25 August 2023 |
| Initiation Refund | 28 August 2023 |
| Credit to Demat Account | 29 August 2023 |
| Listing Date | 30 August 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹42.72 Cr – 5,696,000 shares |
| Fresh Issue | ₹42.72 Cr – 5,696,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹75 per share |
| Lot size | 1600 Shares |
| Market maker portion | 288,000 shares |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| HNI (Min) | 2 | 3,200 | ₹240,000 |
Reservation Details
| Other Shares Offered | 50% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 287.09 | 334.11 | 370.59 |
| Expenses | 276.69 | 319.57 | 347.18 |
| Net income | 9.21 | 10.14 | 18.25 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 5.91 | 6.51 | 11.43 |
| PE ratio | – | – | 6.56 |
| RONW (%) | 19.27 | 17.51 | 22.77 |
| NAV | 30.65 | 37.16 | 49.27 |
| ROCE (%) | 28.71 | 29.72 | 35.63 |
| EBITDA (%) | 6.08 | 5.97 | 8.41 |
| Debt/Equity | 0.98 | 0.66 | 1.07 |
Company Promoters
- Raghavendra Rao Bondada
- Neelima Bondada
- Satyanarayana Baratam
Promoter Holding
| Pre Issue Share Holding | 86% |
| Post Issue Share Holding | 63.33% |
Lead Manager(s)
VIVRO FINANCIAL SERVICES PRIVATE LIMITED
607/608 Marathon Icon, Opp. Peninsula Corporate Park,
off. Ganpatrao Kadam Marg, Veer Santaji Lane, Lower Parel, Mumbai – 400 013
Phone: +91 22 6666 8040
Email: investors@vivro.net
Website: www.vivro.net
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium, Tower-B, Plot 31& 32,
Gachibowli Financial District Nanakramguda,
Hyderabad – 500032, Telangana, India
Phone: +91-40-6716-2222
Email: bel.ipo@kfintech.com.
Website: www.kfintech.com
Contact Details
BONDADA ENGINEERING LIMITED
Plot No. 11 & 15, 3rd Floor Surya PPR Towers,
Ranga Reddy, Hyderabad 500062, Telangana, India
Phone: +91 72070 34662
Email: cs@bondada.net
Website: www.bondada.net
Allotment Status
Bondada Engineering IPO allotment status will be available on KFin Tech website. Click on this link to get allotment status.
Final thoughts
Bondada Engineering IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
