Bondada Engineering IPO: Check GMP, subscription status on day 1, other details to know
₹75 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter. Bondada Engineering IPO issue price is 7.5 times the face value of the equity share.
Bondada IPO consists of fresh issue of 56,96,000 equity shares aggregating to ₹42.72 crore. There's no offer for sale (OFS) component. According to company's Red Herring Prospectus (RHP) it intends to use the gross proceeds raised through the issue for meeting long-term working capital requirements, and general corporate purposes.
The company's promoters are Raghavendra Rao Bondada, Neelima Bondada, and Satyanarayana Baratam. Bondada Engineering IPO'S lead manager is Vivro Financial Services Private Ltd, and the registrar is KFin Technologies Ltd. Bondada Engineering Ltd is a Hyderabad-based infrastructure firm that serves customers across India in the telecom and solar energy industries by offering engineering, procurement, and construction (EPC) and operations and maintenance (O&M) services.
Also Read: Bondada Engineering IPO: Bondada IPO to open on August 18, check key dates to price band Bondada Engineering IPO Subscription Status was 70% on day 1 so far. The issue received positive response from retail investors who's portion set was subscribed 1.35 times, and non-institutional buyers who's portion set was subscribed 4%, according to data on chittorgarh.com. The company has received bids for 37,65,000 shares against 5,696,000 shares on offer, at 18:24 IST, according to data on chittorgarh.com.
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