Bondada Engineering makes stellar debut; shares list with 90% premium at ₹142.5 apiece on BSE SME
₹142.50 apiece on the BSE SME as against the issue price of ₹75.00 per share. Bondada Engineering doubled IPO investors money on debut as the shares were locked at 5% upper circuit at ₹149.62 after listing, leading to gains of 99.49% from issue price. Bondada Engineering IPO was an SME IPO and was open from August 18 to August 22.
The public offer received a robust 112.28 times subscription. The retail investors’ portion set was subscribed 100.05 times, and non-institutional buyers’ portion was subscribed 115.46 times. Also Read: Crop Life Science IPO Listing: SME shares list with 7.6% premium at ₹55.95 apiece on NSE Emerge Bondada IPO price band was fixed at ₹75 per equity share of face value of ₹10 each.
The IPO lot size was 1,600 equity shares. Bondada IPO consisted of fresh issue of 56,96,000 equity shares aggregating to ₹42.72 crore. There was no offer for sale (OFS) component.
The company intends to use the gross proceeds raised through the issue for meeting long-term working capital requirements, and general corporate purposes. Also Read: Rishabh Instruments IPO opens today: Latest GMP, should you subscribe, subscription status? 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. Bondada Engineering IPO'S lead manager is Vivro Financial Services Private Ltd, and the registrar is KFin Technologies Ltd.
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