August 1, 2025
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Final Subcription Tally
| Size Rs. 69.81 Crore LM: Socradamus Capital | ||||
| QIB | NII x | RII x | Total x | Applications |
| 1.27 | 3.66 | 1.32 | 1.81 | 888 |
| Subscription Review: Poor subscription trend on the last day |
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About Repono Limited
Incorporated in 1984, B. D. Industries (Pune) Limited is engaged in the manufacturing of rotationally molded plastic products, catering to a wide range of automotive and industrial applications.
The company’s product portfolio includes plastic fuel tanks for off-road vehicles, urea tanks, hydraulic tanks, fenders, air ducts, mudguards, cabin roofs, and various components used across the safety, healthcare, and marine sectors.
B. D. Industries currently operates three manufacturing units located in Pune, Dewas, and Hoshiarpur, with a fourth facility under construction in Zaheerabad, Telangana, to meet rising production demands.
Its core offerings include:
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Plastic fuel tanks for vehicles, agricultural equipment, motorcycles, marine and industrial machinery—lightweight, corrosion-resistant, and design-flexible.
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Other auto components such as tractor fenders, transmission covers, bus seats, cabin roofs with sunroofs, urea tanks, battery boxes, and mudguards.
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Rotationally molded pallets, widely used in food & beverage, pharmaceuticals, e-commerce, automotive, and chemical industries due to their hygiene and durability.
As of May 31, 2025, the company employed 98 people
B.D.Industries IPO Details
|
Sector: Manufacturing |
|
| IPO opens on | 30 July 2025 |
| IPO closes on | 1 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 42,00,000 Shares / Rs 45.36 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 216,000 Shares |
| Net offer to Public | 3984,000 Shares Rs.43.03 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 102-108 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Market Maker | 2,16,000 (5.14%) |
| QIB | 19,92,000 (47.43%) |
| NII (HNI) | 5,97,600 (14.23%) |
| Retail | 13,94,400 (33.20%) |
How shares can be applied?
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,59,200 |
| Retail (Max) | 2 | 2,400 | ₹2,59,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,88,800 |
| S-HNI (Max) | 7 | 8,400 | ₹9,07,200 |
| B-HNI (Min) | 8 | 9,600 | ₹10,36,800 |
Who are the Promoters of B.D.Industries IPO?
Dalbirpal Saini, Arti Saini, Akshay Saini, Rahul Saini are the promoters of the company. The promoters hold 100.00% of the pre-IPO capital
What are the Objects of B.D.Industries IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+Repayment or Pre-payment of borrowings of the Company Rs. 6.80 Cr.
+Funding Working Capital Requirement of the Company Rs. 7.30 Cr.
+Repayment or Pre-payment of its borrowings Rs. 11.60 Cr.
+Purchase of Machinery Rs. 5.40 Cr.
+Funding Working Capital Requirement Rs. 7.30 Cr.
+General Corporate Purpose
B.D.Industries IPO Timetable
Tentative timetable |
|
| IPO opens on | 30 July 2025 |
| IPO Closes on | 1 August 2025 |
| IPO Allotment on | 4 August 2025 |
| Refund Initiation | 5 August 2025 |
| Credit of Shares | 5 August 2025 |
| Listing on | 6 August 2025 |
| Registered Office of the Company B.D.Industries (Pune) Ltd. 15th Flr, 1501-B, Universal Majestic, PL Lokhande Marg, G M Link Road, Nr RBK International School, Govand West Mumbai, Maharashtra, 400043 |
| Lead Managers of this IPO Aryaman Financial Services ltd |
| Who is the Registrar to the IPO? Cameo Corporate Services ltd |
B.D.Industries IPO IPO GMP grey market premium, review, Subscription, allotment, listing estimate
B.D.Industries IPO Financials
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 68.9 | 31.96 | 27.18 |
| Revenue | 84.13 | 55.33 | 55.1 |
| Profit After Tax | 8.15 | 3.18 | 1.49 |
| EBITDA | 15.58 | 5.79 | 3.21 |
| Net Worth | 21.14 | 13.54 | 10.36 |
| Reserves and Surplus | 11.13 | 13.53 | 10.35 |
| Total Borrowing | 22.19 | 5.06 | 2.21 |
| Amount in Rs. Crore | |||
Performance Indicators
| KPI | Values |
| ROE | 43.86% |
| ROCE | 43.50% |
| Debt/Equity | 1.05 |
| RoNW | 35.97% |
| PAT Margin | 9.23% |
| EBITDA Margin | 18.92% |
| Price to Book Value | 6.42 |
| EPS | 8.14 |
| PE Ratio | 13.3 |
How B.D.Industries IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| B. D. Industries (Pune) Limited | 13.30 | 35.97 |
| Nilkamal Ltd. | 25.04 | 7.18 |
| Time Technoplast Ltd. | 25.94 | 13.32 |
| Supreme Industries Ltd. | 58.07 | 16.98 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Chanakya’s IPO Review – B.D.Industries Limited by Paresh Gordhandas, CA & Research Analyst
Incorporated in 1984, B. D. Industries (Pune) Limited is engaged in the manufacturing of rotationally molded plastic products catering to diverse automotive and industrial segments.
Its product portfolio includes plastic fuel tanks for off-road vehicles, urea tanks, hydraulic tanks, fenders, air ducts, mudguards, cabin roofs, and components used in the safety, healthcare, and marine industries.
The company operates three manufacturing units in Pune, Dewas, and Hoshiarpur, with a fourth facility under construction at Zaheerabad, Telangana to support growing production needs.
The IPO size is modest at Rs.45.36 crore, and with just 581 retail applications, the retail portion is likely to get fully subscribed with minimal effort.
Financially, the company has shown growth over the past three years. Total income increased from Rs..55.10 crore in FY22 to Rs.84.13 crore in FY25. Net profit also rose significantly from Rs.1.49 crore to Rs. 8.15 crore during the same period, indicating an improvement in operational efficiency.
However, a deeper look into the balance sheet reveals concerns. As of March 31, 2025, the company held inventory worth Rs.29.63 crore, which is around 4.3 times its monthly revenue of Rs.6.86 crore. Additionally, trade receivables stood at Rs.21.81 crore, both of which appear unusually high and warrant further scrutiny.
Chanakya’s Opinion: From a fundamental perspective, the IPO appears so-so.
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