Here are the latest IPO details for B.D. Industries (Pune) Ltd., as confirmed from recent resources:
Contents
📅 IPO Schedule
- Opening date: July 30, 2025
- Closing date: August 1, 2025
- Allotment finalization: August 4, 2025
- Refund initiation & demat credit: August 5, 2025
- Tentative listing date on BSE SME: August 6, 2025
💰 Issue Size & Pricing
- Total size: ₹45.36 crore (approx.), offering 42,00,000 equity shares of face value ₹10 each
- Price band: ₹102–₹108 per share (inclusive of share premium)
- Minimum application lot: 1,200 shares (i.e. 2 lots) costing ₹2,59,200 per application
Investor Allocation
| Investor Category | Allocation (%) |
|---|---|
| Retail (RII) | 35% |
| QIB (Qualified Institutional Buyers) | 50% |
| HNI / NII | 15% |
A separate market maker portion of 216,000 shares (~5.14%) is reserved, with ~3,984,000 shares open to the public
🏭 Business & Financial Highlights
- Operations: Specialist manufacturer of rotationally molded plastic products—automotive fuel tanks, urea tanks, fenders, mudguards, pallets, and related components. Operates 3 plants (Pune, Dewas, Hoshiarpur), with a 4th under construction in Telangana.
- Financial performance:
- FY2023 revenue ₹55.10 Cr, PAT ₹1.49 Cr
- FY2024 revenue ₹55.33 Cr, PAT ₹3.18 Cr
- FY2025 revenue ₹84.13 Cr, PAT ₹8.15 Cr
- Valuation metrics (FY2025):
- EPS: ₹7.60
- RoNW: 35.97%
- ROCE: 43.50%
- NAV per share: ₹21.12
- Debt/Equity: ~1.05 to 1.30 ×
📊 Analyst Perspective & Review
- B.D. Industries is a modest-size SME IPO (~₹45Cr); investors see potential for long-term growth given rising revenues and strong margins.
- Peer comparisons:
- Nilkamal, Time Technoplast, Supreme Industries have P/E ratios ~25–58×, but lower RoNW values (~7–17%). B.D. Industries shows a lower P/E (~13×) with higher RoNW (~36%).
- Overall investor sentiment suggests the IPO is best suited for long-term investors rather than short-term gains.
🔁 Subscription & Allotment Status
- Being a future IPO (as of July 2025), subscription data and allotment updates will become available post-closure.
- Allotment status is expected around August 4, 2025; you can check it via Cameo Corporate Services (the registrar)
✅ Strengths
- Experienced Management & ISO Certifications
The promoters bring deep expertise in roto‑moulding, and the company holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications—all supporting product quality and process efficiency. - Well‑Established Manufacturing Setup
Operating three plants (Pune, Dewas, Hoshiarpur) with a fourth under construction enhances scale, operational efficiency, and geographic reach. - Diversified Product Mix & Key Client Relationships
Offers a broad portfolio—automotive fuel tanks, urea tanks, pallets, mudguards—and maintains long-term relationships with reputed clients, reducing dependence on any single segment.
⚠️ Weaknesses & Risks
- High Customer & Supplier Concentration
Over 60–63% of revenue comes from the top five customers, making performance sensitive to losing any key client. Similarly, dependence on a few raw‑material suppliers poses risks if supply disruptions occur. - Rising Leverage & Recent Negative Cash Flows
The debt-to-equity ratio has risen to ~1.4× in FY2025. Recent fiscal periods show negative operating cash flows, raising liquidity concerns, especially given working capital expansion and subsidiary funding needs. - Limited Transparency & Geographic Concentration
A large portion of business is concentrated in a few states, limiting geographic diversification. The lack of comprehensive transparency—such as half-yearly (not quarterly) reporting and limited public data—may hinder full due diligence
