Bonfiglioli Transmissions announces Rs 2,534-cr IPO; price band set at Rs 558-586/sh

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In a public announcement, the power transmission component maker said the issue will open for public subscription on October 15 and conclude on October 19, while the bidding for anchor investors will take place on October 14.

The company's IPO is entirely an OFS of up to 4.32 crore equity shares by promoter Bonfiglioli S.p.A., with no fresh issue component. Consequently, the company will not receive any proceeds from the public offering, with the entire amount going to the selling shareholder.

Bonfiglioli Transmissions is a technology-driven provider of mechanical and electro-mechanical power transmission and industrial drive solutions. The company manufactures a range of mission-critical, precision-engineered gear motors, gearboxes and drive systems catering to diverse end-user markets.

The company operates under the Bonfiglioli brand, which has a global presence spanning nearly 70 years. In India, the group has been operating for more than 25 years.

The equity shares are proposed to be listed on the BSE and the National Stock Exchange (NSE) on October 23.

Axis Capital, BNP Paribas, ICICI Securities and Jefferies India are the book-running lead managers to the issue.