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Bonfiglioli Transmissions Ltd IPO

Tech-led NBFC delivering AI/ML driven retail credit across Tier-2 & Tier-3 India.

IPO Closed
Price Band ₹586 per share per share
Lot Size 25 Shares
Min. Investment ₹14650
Issue Size ₹2533.81 Cr
Face Value ₹10
IPO Open 15 October 2026
IPO Close 19 October 2026
Allotment 21 Oct 2026
Listing 23 Oct 2026
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Subscription status for Bonfiglioli Transmissions Ltd IPO

As of 21 Oct 26, 9:41 PM. Will get Updated in every 30 minutes

QIB -

Qualified Institutional Buyers

NII -

Non-Institutional Investors

Retail -

Retail Individual Investors

Total -

Across all investor categories

Key dates

IPO schedule for Bonfiglioli Transmissions Ltd

From the day bidding opens to listing — every milestone you need to track.

IPO Open 15 Oct 2026
IPO Close 19 Oct 2026
Allotment 21 Oct 2026
Refund / Unblock 22 Oct 2026
Listing 23 Oct 2026
About the company

Who is Bonfiglioli Transmissions Ltd ?

Bonfiglioli Transmissions Limited was originally incorporated as Bonfiglioli Deepak Private Limited' at Chennai, Tamil Nadu, India, as a private limited company , dated June 23, 1998, with Registrar of Companies, Tamil Nadu. Subsequently, the name of the Company was changed from Bonfiglioli Deepak Private Limited' to Bonfiglioli Transmissions Private Limited', and a fresh certificate of incorporation

dated September 25, 1998, was issued by the RoC. The name of the Company was further changed to Bonfiglioli Transmissions Limited', dated September 16, 2025, vide fresh certificate issued by the Central Processing Centre.

Founded by Bonfiglioli S.p.A, Company is one of India's largest technology players in mechanical and electro-mechanical power transmissions and industrial drive solutions. It manufacture a wide range of mission-critical and highly precision engineered gearboxes and drive systems used across diverse end user markets. It focuses on the development, manufacture and distribution of gearboxes and drive systems to cater to the needs of industrial processes, automation services, off-highway mobility solutions and renewable energy applications.

Initially, Company operated three facilities in India, two of which were in Tamil Nadu (at Thirumudivakkam and Mannur) and one in Maharashtra (in Talegaon), that manufactured a combined total of 330,057 units of gear motors and gearboxes in 2024.

The Company provided complete power and control solutions for battery swapping applications in electric vehicles at charging stations, including gear motors, inverters, cables and accessories to facilitate 5 five different types of functions in vertical, horizontal, indexing, forking and push/ pull operations.

The Company has commenced manufacturing electric motors at Mannur facility in Tamil Nadu in October 2025.

The Company has acquired the business undertaking of Bonfiglioli Drive Solutions Pvt Ltd (BDSPL) as a going concern via slump sale dated December 15, 2025.

Company has filed a Draft Prospectus with SEBI and is planning to issue 46,998,959 equity shares of Rs 10 each through Offer for Sale.

Financial track record

Financials at a glance

Three-year trajectory of revenue, profit and assets — restated as per the RHP.

Revenue PAT Total Assets
FY 2025
FY 2024
FY 2023
Metric (₹ Cr)FY 2025FY 2024FY 2023
Total Income2,023.591,861.161,701.98
EBITDA380.83302.05258.59
PAT237.87195.16149.53
AUM1,439.461,299.081,395.87

Strengths & Risks

A balanced look at what works in the company's favour and what investors should watch.

Strengths

  • End-to-end technology-led power transmissions and industrial drive solutions provider across business verticals.
  • Highly diversified offerings across business verticals and customer industries.
  • Established parentage and trusted brand backed by global and local R&D capabilities.
  • Deep relationships with marquee customers built through decades of collaboration, a strong sales team and dealer network and after-sales service support.
  • State-of-the-art manufacturing infrastructure with embedded industry 4.0 principles supported by an efficient and localized supply chain network.
  • Stable and experienced management team delivering strong financial performance.

Risks

  • The company depends on a limited number of suppliers for procurement of raw materials and components required for its manufacturing operations. The company's largest supplier is Bonfiglioli Riduttori S.p.A, a related party. Purchases from its related parties represented 15.53%, 16.75%, 15.18%, 17.00% and 19.98%, and purchases from the company's top 10 suppliers represented 40.84%, 41.74%, 41.20%, 45.62% and 47.52% of its total purchases of raw materials and components in the six months periods ended June 30, 2026 and 2025 and in Fiscals 2025, 2024 and 2023, respectively. As the company does not have definitive agreements with its suppliers, any interruption in the availability of raw materials and components on account of any disruption, breakdown or shutdown of the company's suppliers operations could adversely impact its operations.
  • Any increase in the prices of raw materials and components required for the company operations or levy of duties on the materials its import for the company operations, could adversely affect its business, financial condition, results of operations, and cash flows.
  • Any unscheduled, unplanned or prolonged disruption of operations at the company's manufacturing facilities could materially and adversely affect its business, financial condition, results of operations and cash flows.
  • Any actual or perceived defects in the company's gearboxes and drives systems or the sales and after-sale services provided through dealers or third parties may adversely impact the company's brand, reputation, and ability to sell its products, which could have an adverse impact on the company operations.
  • The company depends on BSPA, one of its Corporate Promoters, for certain aspects of the company operations, including the license to manufacture and sell products under its intellectual property including the "Bonfiglioli" trade name and trademark for which the company pay a consideration of 6% of its annual sales of the specified products (excluding sales to BSPA and net of discounts and allowances). Any adverse change in the company's relationship with BSPA could have an adverse impact on its business, financial condition, results of operations, cash flows and reputation.
  • The company depends on BSPA, one of its Corporate Promoters, and other companies in the Bonfiglioli Group for certain aspects of the company operations including administrative and corporate services. Any adverse change in its relationship with BSPA and the companies in the Bonfiglioli Group could have an adverse impact on the company's business, financial condition, results of operations, cash flows and reputation.
  • The company has entered into and will continue to enters into related party transactions with BSPA and companies within the Bonfiglioli Group that may involve conflicts of interest, which could adversely impact the company's business. The arithmetic aggregate absolute total of income from related parties represented 19.91%, 14.29%, 15.59%, 17.66% and 17.70% of its total income in the six months periods ended June 30, 2026 and 2025 and in Fiscals 2025, 2024 and 2023, respectively, while the arithmetic aggregate absolute total of expenses from related parties represented 32.71%, 32.38%, 24.83%, 25.20% and 28.66% of the company's total expenses in the six months periods ended June 30, 2026 and 2025 and in Fiscals 2025, 2024 and 2023, respectively.
  • The company depends on a limited number of customers for its sales, and revenue from the company's top 10 OEM customers represented 31.72%, 37.83%, 36.60%, 34.38% and 32.82% of its total revenue from operations (continuing operations) in the six months periods ended June 30, 2026 and 2025 and in Fiscals 2025, 2024 and 2023, respectively. As the company does not have long-term binding agreements with all its customers, any reduction in orders from, or loss of, any of the company's major customers could adversely affect its business, financial condition, results of operations and cash flows.
  • Failures to successfully commercialise co-engineered products could adversely affect the company's business, financial condition, results of operations, and cash flows.
  • Certain corporate records and forms filed by the company with the RoC, are not traceable. While the company has conducted a search with the RoC, in respect of the unavailability of such forms and other records, its cannot assure you that such forms or records will be available at all or any time in the future.

Bonfiglioli Transmissions Ltd IPO — frequently asked questions

The Bonfiglioli Transmissions Ltd IPO opens on 15 October 2026 and closes on 19 October 2026. Bidding is accepted from 10:00 AM on the open date until 5:00 PM on the close date. The IPO is available to all eligible investors including retail individual investors, non-institutional investors, and qualified institutional buyers.
The price band for Bonfiglioli Transmissions Ltd IPO is Rs 586 to Rs 586 per share. The lot size is 25 shares per lot, requiring a minimum investment of Rs 14650 at the upper price band. Investors must apply for a minimum of one lot and can apply for up to 25 lots as per SEBI guidelines.
You can apply for the Bonfiglioli Transmissions Ltd IPO through the Chola Securities app or web platform using UPI or ASBA. Log in to your account, navigate to the IPO section, select Bonfiglioli Transmissions Ltd from the open IPOs list, enter your bid quantity and price within the price band, and submit your application. You need an active demat account, a linked bank account, and a valid PAN to apply. Bidding closes on 19 October 2026 at 5:00 PM.
Allotment for Bonfiglioli Transmissions Ltd IPO is scheduled on 21 Oct 2026. Refunds or unblocking of funds for unsuccessful applicants will be processed on 22 Oct 2026. The shares are expected to list on 23 Oct 2026. You can check your allotment status on the Chola Securities IPO page or through the registrar's website using your PAN.
Chola Securities' research team has reviewed the Bonfiglioli Transmissions Ltd IPO based on the company's financials, business model, valuation, and sector outlook. The recommendation is available on this page. Investors are advised to read the full IPO note along with the company's Red Herring Prospectus before making an investment decision.
Yes, you can revise or withdraw your Bonfiglioli Transmissions Ltd IPO bid before the subscription window closes on 19 October 2026 at 5:00 PM. Revisions can include changing the quantity or price within the allowed price band. To withdraw, cancel your application through the platform before the closing time. Once the subscription period ends, no further changes are permitted.
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