Bondada Engineering Limited’s SME IPO to open on August 18

Ahmedabad: Hyderabad based infrastructure player Bondada Engineering Limited, engaged in the business of providing engineering, procurement and construction (“EPC”) services and operations and maintenance (“O&M”) services to its pan India customers operating in telecom and solar energy industry has set a fixed price issue at Rs 75 per Equity Share for its maiden SME public offer. The SME initial public offering (“IPO” or “Offer”) of the Company will open on Friday, August 18, 2023, for subscription and closes on Tuesday, August 22, 2023. Investors can bid for a minimum of 1600 Equity Shares and in multiples of 1600 Equity Shares thereafter, the company said in a press statement.

According to the company’s statement, The Public Issue of face value of Rs 10 per Equity Share comprises of fresh issuance of equity shares worth Rs 4,272.00 Lakhs with no Offer for Sale (OFS) component.

Bondada Engineering is a leading provider of core design, engineering, and O&M services for infrastructure projects. Their expertise, backed by a team of 550+ professionals, is evident from their successful track record. They received accolades, such as the “Telecom Infrastructure Services Provider” by the Economic Times in 2021 and “Company of the Year” by the Global India Business Forum in 2023, the statement added.

The press release also stated that Bondada Engineering clocked a profit of Rs 18.25 crore in the financial year FY23 against Rs 10.13 crore in the previous year. Revenue during the year FY23 increased significantly to Rs 370.59 crore from Rs 334.11 crore in the previous year, an increase of 9.84%, primarily due to increase in revenue from EPC services, due to increased projects executed for solar sector.

Vivro Financial Services Private Limited is the Lead Manager and KFin Technologies Limited is the Registrar to the Issue. The Equity Shares are proposed to be listed on the SME Platform of BSE Limited (BSE SME), the company the statement further said.