B. D. Industries (Pune) Limited, part of the BDI Group, has launched its SME IPO with a book-built issue size of ₹45.36 crores. The company has a legacy of over 35 years, manufacturing more than 500 plastic products in Mumbai and catering to eight different industries, including custom rotational moulding.

The IPO comprises a fresh issue of 42 lakh equity shares and is scheduled to be open from July 30 to August 01, 2025. The price band is fixed at ₹102 to ₹108 per equity share, and the market capitalization at the upper price band stands at approximately ₹153.46 crore.

Company Overview

BDI Group is known for manufacturing plastic components for various sectors such as automotive, infrastructure, and safety. Their client list includes leading automotive OEMs for whom they supply fuel tanks, in-cab parts, fenders, rooftops, AdBlue tanks, and more. They are also recognized for producing road barriers and allied safety products.

The manufacturing excellence is backed by advanced technology, customer-centric design capabilities, and sector-specific compliance. Their ability to customize products for diverse industries has been key to their longstanding success.

IPO Details at a Glance

• IPO Open Date: July 30, 2025

• IPO Close Date: August 01, 2025

• Price Band: ₹102 to ₹108 per share

• Issue Size: ₹45.36 crores (fresh issue only)

• Total Shares Offered: 42 lakh shares

• Minimum Lot Size: 1,200 shares

• Minimum Investment: ₹2,59,200 (for 2 lots)

• Tentative Allotment Date: August 04, 2025

• Listing Date (Expected): August 06, 2025

• Listing Exchange: BSE SME

ARYAMAN FINANCIAL SERVICES LIMITED is the Book Running Lead Manager (BRLM) and CAMEO CORPORATE SERVICES LIMITED is the Registrar. Aryaman Capital Markets Limited is acting as the Market Maker for the issue.

Anchor Investors Participation

B. D. Industries (Pune) successfully raised ₹12.90 crore through anchor investors by allocating 11,95,200 shares at ₹108 each. This reflects confidence from institutional players even before the IPO opens to the public.

Grey Market Premium (GMP) Insights

The GMP (Grey Market Premium) is reported at ₹18, indicating a potential 16.81% listing gain based on the upper band. However, GMP is based on informal, speculative trades, and it should not be the only metric for investment decisions.

Live Subscription Status

As of 11:30 AM on July 31, 2025, the IPO is subscribed 1.09 times, showing strong investor interest early in the process. This figure includes both retail and institutional segments and will likely grow as the issue nears closure.

IPO Objectives

The IPO proceeds will be used strategically to enhance operations across the group companies:

1. ₹6.80 Cr - Repayment of company borrowings

2. ₹7.30 Cr - Funding working capital

3. Investment in B.D. Industries (India) Pvt Ltd:

   • ₹11.60 Cr - Debt repayment

   • ₹5.40 Cr - Machinery purchase

   • ₹7.30 Cr - Working capital

4. General corporate purposes

This strategic capital allocation supports growth across its supply chain and manufacturing facilities.

How to Check Allotment

You can check the B. D. Industries (Pune) IPO Allotment using these steps:

1. Visit the registrar's website (Cameo Corporate Services)

2. Select “B. D. Industries (Pune) Limited” from the dropdown

3. Enter your PAN, Application ID, or DP Client ID

4. Submit to check your allotment status

Financial Performance Snapshot

The company has reported strong and consistent financials over the last three years:

• EPS (FY24, Pre-Issue): ₹7.60

• EPS (Post-Issue): ₹5.73

• P/E Ratio (Pre-Issue): 14.21x

• P/E Ratio (Post-Issue): 18.83x

• Industry P/E Ratio: 46x

• ROCE: 43.50%

• ROE: 43.86%

• RoNW: 35.97%

These figures indicate strong operational efficiency and return ratios, suggesting that the IPO is fairly priced.

Management and Leadership

Led by Dalbirpal Saini (Promoter, CMD) and Sanjay Patil (Whole-Time Director), the management brings decades of hands-on experience. Mr. Saini drives the company’s strategic direction, innovation, and expansion into new sectors and markets.

IPO Review: Should You Apply?

Considering the company’s:

• Strong growth in revenue and profitability

• High return ratios (ROCE, ROE, RoNW)

• Reasonable valuation compared to industry P/E

• Strategic use of IPO proceeds

• GMP indicating listing gain potential

We recommend Risk-Seeking Investors to consider subscribing to the IPO for listing gains. However, this comes with moderate risk given the SME platform’s volatility.

Disclaimer:

This article is for educational and informational purposes only. It does not constitute financial advice or a recommendation to invest. Investors are advised to do their own due diligence or consult a financial advisor. Investment in securities is subject to market risk. Read all IPO-related documents carefully before investing.

The Upcoming IPOs in this week and coming weeks are BLT Logistics, Bhadora Industries, Highway Infrastructure, Flysbs Aviation, Parth Electricals & Engineering, Jyoti Global Plast, Essex Marine, Aaradhya Disposal Industries.

The Current active IPO are Cash Ur Drive Marketing, Renol Polychem, B.D. Industries (Pune), NSDL, Takyon Networks, Mehul Colours, M&B Engineering, Sri Lotus Developers & Realty, Aditya Infotech, Lakshmi India Finance, Kaytex Fabrics.

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