IPO Details
Issue Date
--
Investment/lot
--
Price Range
--
Lot Size
--
IPO Size
N/A
Schedule of Bhadora Industries IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
About Bhadora Industries Ltd IPO
The IPO of Bhadora Industries Ltd comprises fresh issue of up to 54,00,000 equity shares with no offer for sale. It’s a 100% book-built issue. The IPO will commence on TBA and close on TBA. The credit of shares to the demat account will take place on TBA. The basis of allotment will take place on TBA and the initiation of refunds will take place on TBA.
Objectives of Bhadora Industries Ltd IPO
- Part finance the cost of establishing new manufacturing facility to expand its production capabilities of industrial cables and conductors in Madhya Pradesh
- Funding working capital requirements of the company
- General corporate purposes
Bhadora Industries Ltd IPO Valuation
Bhadora Industries Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the net issue |
Non-institutional Bidders | Not less than 15% of the net issue |
Retail Individual Bidders | Not less than 35% of the net issue |
Industry Outlook
The wire and cable market are expanding at a steady pace as new voltage levels are introduced to enhance performance and efficiency. These advancements are allowing the cable industry to produce more efficient, reliable, and cost-effective products. Electrical cables and wires are often used interchangeably. Wire and cable constitute the backbone of the highly acclaimed electrical and electronics industries.
The global wire and cable market was valued at US$ 193.7 billion in 2024 and is forecast to expand at a CAGR of 5.2% to end up at US$ 321.5 billion by the end of 2034.
Company Information
Bhadora Industries Ltd is engaged in the business of manufacturing industrial cables which provide efficient electricity transmission and distribution solutions to the government discoms and EPC companies which cater to the diverse electrical connectivity needs of various industrial sectors. It operates under the brand name of Vidhut Cables.
The company ensures all its cables meet industry standards for safety and performance, while also staying aligned with the technology and requirements of the sector.
Bhadora Industries Ltd Strengths
Approved Vendor in Government Schemes
With over three decades of experience in the cable industry, the company has gained in-depth knowledge and expertise that aligns with the state-specific bidding requirements. The company’s extensive experience ensures that it consistently meets the criteria set forth by government authorities for cable supply tenders. Meeting these criteria demonstrates its ability to supply high-quality products.
Quality Assurance
The company holds ISO 9001:2015 certification for its Quality Management System, which covers the manufacture and supply of PVC, XLPE, Aerial Bunch Cable, Armoured and Unarmoured cables. Additionally, it’s accredited with ISO 9001:2015 (Quality Management System), ISO 14001:2015 (Environmental Management System), and ISO 45001: 2018 (Occupational Health and Safety Management System) standards in the same areas.
Sustainable Business Operations
Bhadora Industries established in 1986 as a partnership, has experienced steady growth and expansion over the years. The business began its journey in 1988 with production PVC cables, and over the years the company launched new products, like “XLPE Cable” and “AB Cable,” marking expansion of its product portfolio.
The company is fully compliant with all statutory norms and regulations, ensuring that every aspect of its operations meets both industry standards and legal requirements.
Risks of Bhadora Industries Ltd
- Dependent on Top 10 Customers
Bhadora Industries Ltd is highly dependent on its top ten customers and the loss of any of these customers or a substantial reduction in their purchasing activity would have a significant negative impact on its business.
- Increase in Price of Raw Materials
The company’s raw material cost constitutes a significant percentage of its total expenses. Any increase in the prices, availability and quality of raw materials could adversely affect its reputation, business, results from operations, financial conditions and cash flows. The firm relies on few qualified suppliers for its primary raw material. Loss of these suppliers may have an adverse effect on its business, results of operations and financial conditions.
- Reliance on Certain Products
The company derives a significant portion of its revenue from some of its products. If sales volume or price of such products declines in the future, or if it’s unable to sell such products for any reason, its business, financial condition, cash flows and results of operations could be adversely affected.
All Financial Information about Bhadora Industries
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Company Name | Revenue from Operations (in ₹ crores) | EPS in ₹ | Return on Net Worth (in %) | NAV per Equity Share (in ₹) |
|---|---|---|---|---|
Bhadora Industries Ltd | 81.3932 | 3.75 | 48.80 | 10.67 |
Dynamic Cables Ltd | 768.0036 | 17.16 | 17.65 | 97.19 |
DCG Cables and Wires Ltd | 101.1029 | 6.76 | 36.91 | 18.31 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- IPO Registrar: MUFG Intime India Pvt Ltd, previously known as Link Intime India Pvt Ltd
- Book Running Lead Manager: Unistone Capital Pvt Ltd
Business Model
Operating under the brand Vidhut Cables, Bhadora Industries Ltd started with the production of Polyvinyl Chloride (PVC) cables and later expanded its range to Low Voltage (LV) cables, LT Aerial Bunched Cables, Cross-Linked Polyethylene (XLPE) cables. Each product serves a specific function in electricity transmission, from reliable power distribution in low voltage applications to high-performance cables used in overhead power lines.
Company Growth Trajectory
The company’s revenue from operations grew from ₹14.5977 crores in FY 22 to ₹81.3932 crores in FY 24. The firm’s EBITDA margin grew from 3.20% in FY 22 to 8.34% in FY 24 and net profit margin grew from -0.39% in FY 22 to 6.09% in FY 24. The company’s total revenue increased from ₹15.1484 crores in FY 22 to ₹83.2748 crores in FY 24, growing at a CAGR of 134.52%.
Market Position
Established in 1986, Bhadora Industries Ltd has experienced steady growth over the years. It has a presence in several states of India including Andhra Pradesh, Assam, Bihar, Chhattisgarh, Jharkhand, Kerala, etc. The company’s manufacturing facility is accredited with Bureau of Indian Standards (BIS) and ISO 9001: 2015 (Quality Management Systems), ISO 14001:2015 (Environment Management System), and ISO 45001:2018 (Occupational Health and Safety Management Systems) certifications.
Bhadora Industries Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Revenue (in ₹ crore) | 83.2748 | 18.8085 | 15.1484 |
Profit Before Tax (in ₹ crores) | 6.6915 | 0.2274 | (0.0312) |
Profit After Tax (in ₹ crores) | 4.9552 | 0.1805 | (0.0570) |
EPS in ₹ | 3.75 | 0.14 | (0.04) |
EBITDA | 6.7878 | 1.0356 | 0.4669 |
Bhadora Industries Ltd Balance Sheet
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 6.6915 | 0.2274 | (0.0312) |
Net Cash Flow from Operating Activities (in ₹ crores) | 2.8083 | 1.2227 | 1.3633 |
Net Cash Flow from Investing Activities (in ₹ crores) | -0.3680 | 0.5677 | -1.2630 |
Net Cash Flow from Financing Activities (in ₹ crores) | -2.3852 | -2.1238 | 0.3461 |
Cash and Cash Equivalents at the End of the Period (in ₹ crores) | 0.2814 | 0.2263 | 0.5597 |
How to Check Allotment Status of Bhadora Industries Ltd IPO?
1. Visit the Registrar’s Website
- Visit the website of MUFG Intime India Pvt Ltd
- Choose ‘Public Issues’ from ‘Investor Services’ dropdown
- Select Company and enter PAN, App No, DP/ Client ID, etc
- Click on ‘Submit’ to know the status
2. Verify on the National Stock Exchange Website
The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Bhadora Industries Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.
On the NSE IPO Bid Verification page, enter:
- Company name from dropdown
- Application number
- PAN
Then click 'Submit' to know the allotment status.
How to Apply for Bhadora Industries Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Bhadora Industries IPO FAQs
What is the Bhadora Industries Ltd IPO?
The IPO of Bhadora Industries Ltd comprises a fresh issue of up to 54,00,000 equity shares. It has no offer for sale.
When will the IPO of Bhadora Industries Ltd go live?
The exact dates of the IPO are yet to be announced.
Who is the chairman and MD of Bhadora Industries Ltd?
Shashank Bhadora is the chairman and MD of Bhadora Industries Ltd.
From where can I read more about the IPO of Bhadora Industries Ltd?
You can read more about the IPO of Bhadora Industries Ltd from the company’s draft red herring prospectus here.
