Bhadora Industries Limited, the parent company of Vidhut Cables, is set to launch its Initial Public Offering (IPO) on August 4, 2025. This IPO is a Book Built Issue entirely comprising a Fresh Issue of 54 lakh equity shares, aggregating up to ₹55.62 crores. The issue will close on August 6, 2025, with the basis of allotment expected on August 7, 2025, and the stock likely to be listed on the NSE SME platform on August 11, 2025.

About Bhadora Industries and Vidhut Cables

Vidhut Cables, a renowned brand under Bhadora Industries Limited, was established in 1988. It is a leading manufacturer of industrial and power cables, including Armoured Cables, XLPE Cables, AB Cables, and ACSR Conductors. The company has maintained a focus on eco-friendly, innovative, and high-quality cable solutions and strictly complies with BIS and international standards.

The brand is backed by over three decades of expertise from promoters Shashank Bhadora, Pradeep Bhadora, and Anil Bhadora, who bring in-depth knowledge of the industrial cable sector. Their leadership has been instrumental in Bhadora’s rapid financial and operational growth.

IPO Price Band, Lot Size, and Minimum Investment

The Bhadora Industries IPO has a price band set at ₹97 to ₹103 per share. With a lot size of 1,200 shares, retail investors are required to subscribe to at least 2 lots (2,400 shares), translating to a minimum investment of ₹2,47,200 at the upper band.

At the upper end of the price band, the post-issue market capitalization of the company is expected to be ₹191.58 crores.

IPO Lead Managers and Registrar

• Book Running Lead Manager: UNISTONE CAPITAL PRIVATE LIMITED

• Registrar: MUFG INTIME INDIA PRIVATE LIMITED

• Market Maker: NNM Securities Private Limited

Grey Market Premium (GMP) and Expected Listing Gain

As of July 30, 2025, the Grey Market Premium (GMP) of Bhadora Industries IPO is reported at ₹10 per share, suggesting an approximate 9.7% expected listing gain. However, investors are advised to treat GMP as speculative, as it reflects unofficial and unregulated market activity.

IPO Allotment and How to Check Allotment Status

The IPO allotment date is August 7, 2025 (Thursday). Investors can check their allotment status through the registrar's website using the following steps:

1. Go to the allotment status page.

2. Select Bhadora Industries IPO from the dropdown.

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

4. Submit to view your allotment status.

Objectives of the IPO

Bhadora Industries aims to utilise the net proceeds for:

1. Establishing a new manufacturing facility at Panwa, Madhya Pradesh – ₹22.31 crore.

2. Working capital requirements – ₹20 crore.

3. General corporate purposes.

Financial Performance Overview

The company’s financials indicate robust and consistent growth:

Key Ratios and Valuation Metrics

• Pre-issue EPS (FY24): ₹8.17

• Post-issue EPS (FY24): ₹5.80

• Pre-issue P/E Ratio: 12.60x

• Post-issue P/E Ratio: 17.76x

• Industry P/E Ratio: 16x

• ROCE (FY24): 42.41%

• ROE & RoNW (FY24): 51.51%

These metrics suggest that the IPO is reasonably valued, though the post-issue P/E slightly exceeds industry average. Nonetheless, the company's high return ratios indicate efficient capital use and potential upside.

Bhadora Industries IPO Review – Apply or Avoid?

Based on the financial performance, experienced promoters, solid industry demand, and moderate valuation, the Bhadora Industries IPO is rated positively. The current GMP trend suggests listing gains, and the company’s operational scale-up plans offer further growth potential.

Hence, investors seeking listing gains or mid-term exposure in a growth-oriented industrial company may consider applying to the IPO.

Disclaimer

The above analysis is for educational and informational purposes only and does not constitute investment advice. IPO investments are subject to market risks. Kindly consult your financial advisor 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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