Bondada Engineering makes stellar debut; shares list with 90% premium at ₹142.5 apiece on BSE SME

Bondada Engineering IPO Listing: Bondada Engineering Limited, the EPC services provider, made a stellar stock market debut on Wednesday. Bondada Engineering shares were listed with a strong premium of 90% at ₹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.

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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.

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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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