BONFIGLIOLI TRANSMISSIONS LTD IPO: Company Review, Subscription and Allotment Updates
2026-10-15 — Company overview and issue details BONFIGLIOLI TRANSMISSIONS LTD IPO (ABOUT THE COMPANY) BONFIGLIOLI TRANSMISSIONS LTD – COMPANY BACKGROUND Bonfiglioli Transmissions Ltd is a subsidiary of Bonfiglioli Transmissions SPA of…
2026-10-15 — Company overview and issue details
BONFIGLIOLI TRANSMISSIONS LTD IPO (ABOUT THE COMPANY)
BONFIGLIOLI TRANSMISSIONS LTD – COMPANY BACKGROUND
Bonfiglioli Transmissions Ltd is a subsidiary of Bonfiglioli Transmissions SPA of Italy. It provides mechanical and electro-mechanical power transmission and industrial drive solutions for auto and other industrial sectors. It is broadly divided into 3 verticals; Industry & Automation Solutions, Off-Highway Mobility, and Wind Industry. It is among the major supplier of gearboxes for Indian automobile OEMs. The company has 3 manufacturing facilities in India; with 2 located in Tamil Nadu and 1 in Maharashtra. Apart from the 3 manufacturing units, the company also has 13 sales offices, 13 authorized third-party service facilities, and 44 authorized dealers with 54 outlets. It has 215 suppliers located in India and another 70 distributed across Italy, China, Germany, and the US.
The promoters of Bonfiglioli Transmissions Ltd are Sonia Bonfiglioli, Luciano Bonfiglioli, Luisa Lusardi, and Bonfiglioli SPA of Italy. The IPO will be entirely an offer for sale (OFS) component by Bonfiglioli SPA. There will not be any dilution of equity, although the promoter stake will come down post the IPO. The issue is being lead-managed by Axis Capital, BNP Paribas, ICICI Securities, and Jefferies India; MUFG Intime India Private Ltd is the IPO registrar.
HIGHLIGHTS OF THE IPO ISSUE OF BONFIGLIOLI TRANSMISSIONS LTD
Here are the key highlights of the public issue of Bonfiglioli Transmissions Ltd.
The IPO is open from October 15th, 2026 to October 19th, 2026. It has a face value of ₹10 per share and the IPO price band has been fixed in the range of ₹558 to ₹586 per share.
The IPO of Bonfiglioli Transmissions Ltd will be entirely an offer for sale (OFS) by the promoter, Bonfiglioli SPA. There will be no fresh issue component in the IPO.
The offer for sale (OFS) portion of the IPO comprises the sale of 4,32,39,042 shares (432.39 lakh shares), which at the upper price band of ₹586 per share, translates into an OFS size of ₹2,533.81 crore.
Therefore, the overall IPO will also comprise of the offer for sale (OFS) of 4,32,39,042 shares (432.39 lakh shares), which at the upper price band of ₹586 per share translates into an overall issue size of ₹2,533.81 crore.
Due to impact of promoters selling in the offer for sale (OFS), the promoter stake in the company will reduce from 100.00% pre-IPO to 77.00% post-IPO.
The IPO of Bonfiglioli Transmissions Ltd will be listed on the NSE and the BSE on the IPO mainboard. The anchor allocation happened on October 14, 2026.
KEY DATES, INVESTOR ALLOCATION, AND LOT SIZES
Here are the key dates pertaining to the IPO of Bonfiglioli Transmissions Ltd
| Event | Tentative Date |
|---|---|
| IPO Open Date | Thursday, 15 October, 2026 |
| IPO Close Date | Monday, 19 October, 2026 |
| Basis of Allotment | Wednesday, 21 October, 2026 |
| Initiation of Refunds to non-allottees | Thursday, 22 October, 2026 |
| Credit of Shares to Demat | Thursday, 22 October, 2026 |
| Listing Date on NSE and BSE | Friday, 23 October, 2026 |
Data Source: Company RHP
Investors can apply either through their existing trading account or the ASBA application can be directly logged through the internet banking account. This can only be done through the authorized list of self-certified syndicate banks (SCSB).
The table below captures the gist of the allocation to various categories.
| Investor Category | Share Allocation | % Share |
|---|---|---|
| Reservation for Employees | 50,000 shares | 0.12% of total IPO size |
| Anchor Allocation | 1,29,56,712 shares | 29.97% of total IPO size |
| QIB Shares Offered | 86,37,808 shares | 19.98% of total IPO size |
| NII (HNI) Shares Offered | 64,78,357 shares | 14.98% of total IPO size |
| Retail Shares Offered | 1,51,16,165 shares | 34.96% of total IPO size |
| Total Shares Offered | 4,32,39,042 shares | 100.00% of Total IPO size |
Data Source: Security Parameters Filing (NSE)
The anchor portion, is carved out of the QIB portion and the QIB portion available in the IPO offer has been reduced proportionately. Please note that the above shares are final and may differ marginally from the original announcement.
Here is a quick look at the lot sizes applicable for the IPO of Bonfiglioli Transmissions Ltd for various categories of investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 25 | ₹ 14,650 |
| Retail (Max) | 13 | 325 | ₹ 1,90,450 |
| S-HNI (Min) | 14 | 350 | ₹ 2,05,100 |
| S-HNI (Max) | 68 | 1,700 | ₹ 9,96,200 |
| B-HNI (Min) | 69 | 1,725 | ₹ 10,10,850 |
It may be noted here that for the B-HNI category and for the QIB (qualified institutional buyer) category, there are no upper limits applicable. (1 Lot = 25 shares)
FINANCIAL HIGHLIGHTS OF BONFIGLIOLI TRANSMISSIONS LTD
The table captures the key financials of Bonfiglioli Transmissions Ltd for last 3 financial years.
| Particulars | FY25 | FY24 | FY23 |
|---|---|---|---|
| Net Revenues (₹ in crore) | 2,013.53 | 1,854.18 | 1,687.33 |
| Sales Growth (%) | 8.59% | 9.89% | |
| Profit after Tax (₹ in crore) | 237.87 | 195.16 | 148.49 |
| PAT Margins (%) | 11.81% | 10.53% | 8.80% |
| Total Equity (₹ in crore) | 992.99 | 860.95 | 801.36 |
| Total Assets (₹ in crore) | 1,439.46 | 1,299.08 | 1,414.72 |
| Return on Equity (%) | 23.96% | 22.67% | 18.53% |
| Return on Assets (%) | 16.53% | 15.02% | 10.50% |
| Asset Turnover Ratio (X) | 1.40 | 1.43 | 1.19 |
| Earnings per share (₹) | 12.65 | 10.08 | 7.57 |
| EBITDA (₹ in Crore) | 370.77 | 295.07 | 243.89 |
| EBITDA Margins (%) | 18.41% | 15.91% | 14.45% |
Data Source: Company RHP filed with SEBI (FY refers to Jan-Dec period)
Between FY24 and FY26, revenues of the company have grown by 19.3%. During the same period, the net margins have also improved meaningfully from 8.80% to 11.81%. In the same period, the EBITDA margins have also seen a sharp improvement from 14.45% to 18.41%. The ROE and ROA have grown at a robust pace, while the sweating of assets as measured by the asset turnover ratio has also been consistently above 1. The first and second quarter numbers for 2026 show the momentum being sustained.
VALUATION METRICS OF BONFIGLIOLI TRANSMISSIONS LTD IPO
At the IPO price of ₹586 (upper band), the stock gets discounted at a P/E ratio of 46.3X, based on the latest FY26 EPS of ₹12.65. If one compares the peer group, the average is closer to 50X-55X, so the current valuation appears to be reasonable. Also, its leadership position in the gearboxes space with Indian OEMs is an added advantage. Being an OFS, there will be no dilution of equity post the IPO.
While the valuations leave upside on the table for investors, there are some other advantages that the IPO brings to the table. It caters to auto and other industrial verticals, making its model relatively de-risked. It has a strong global parentage, which brings top-of-the line R&D and best practices. The company has invested heavily in client relationships as well as in nurturing the dealer network. Investors must look at the IPO purely as a long-term investment.
2026-10-15 — Anchor allocation
BONFIGLIOLI TRANSMISSIONS LTD IPO (ANCHOR ALLOCATION 29.97%)
BRIEF ON ANCHOR ALLOCATION OF BONFIGLIOLI TRANSMISSIONS LTD
The anchor issue of Bonfiglioli Transmissions Ltd saw a strong response on 14th October 2026 with 29.97% of the IPO size absorbed by anchors. Out of 4,32,39,042 shares (432.39 lakh shares) on offer in the IPO; anchors picked up 1,29,56,712 shares (129.57 lakh shares) accounting for 29.97% of the total IPO size. The entire anchor allocation was made at the upper end of the price band of ₹586 per share. This includes the face value of ₹10 per share plus a share premium of ₹576 per share. The anchor bidding opened and closed on 14th October 2026.
KEY POINTS TO NOTE IN THE ANCHOR ALLOCATION PROCESS
Here are the key details pertaining to the anchor bidding of Bonfiglioli Transmissions Ltd
| Bid Date | October 14, 2026 |
|---|---|
| Shares Offered | 1,29,56,712 shares |
| Anchor Portion Size (₹ in crore) | ₹759.26 crore |
| Anchor lock-in period end date for 50% shares (30 Days) | Nov 18, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Jan 17, 2027 |
An anchor investor in an IPO is a qualified institutional buyer (QIB) like a foreign portfolio investor or mutual fund or insurance company or a sovereign fund which invests before the IPO is made available to the public as per SEBI regulations. It helps in price discovery.
MAJOR ANCHOR ALLOCATION INVESTORS IN BONFIGLIOLI TRANSMISSIONS LTD
On 14th October 2026, Bonfiglioli Transmissions Ltd allotted 1,29,56,712 shares to a total of 73 anchor investors. The allocation was done at the upper IPO price band of ₹586 per share which resulted in overall anchor allocation of ₹759.26 crore. The anchors have already absorbed 29.97% of the total issue size of ₹2,533.81 crore, after factoring in the employee discount offered in the IPO, if any.
Listed below are the Top 10 IPO anchor investors who accounted for anchor collection of ₹285.53 crores, or, 37.61% of the overall anchor allocation of shares, one trading day ahead of the IPO of Bonfiglioli Transmissions Ltd. The individual anchor allocation to these investors is indexed descending on the number of shares allotted.
| Anchor Investors | No. of Shares | % of Anchor Portion | Value Allocated | |
|---|---|---|---|---|
| 01 | SBI Dividend Yield Fund | 7,16,700 | 5.53% | ₹ 42.00 |
| 02 | ICICI Pru Innovation Fund | 6,82,600 | 5.27% | ₹ 40.00 |
| 03 | Nippon India Small Cap Fund | 5,72,975 | 4.42% | ₹ 33.58 |
| 04 | Government Pension Fund Global | 5,11,950 | 3.95% | ₹ 30.00 |
| 05 | Goldman Sachs India Equity Portfolio | 5,11,950 | 3.95% | ₹ 30.00 |
| 06 | Mirae Asset Focused Fund | 5,11,950 | 3.95% | ₹ 30.00 |
| 07 | Axis Small Cap Fund | 4,26,650 | 3.29% | ₹ 25.00 |
| 08 | ISIF Hybrid Long-Short Fund | 3,41,300 | 2.63% | ₹ 20.00 |
| 09 | Ashoka Whiteoak EM Equity Fund | 3,41,300 | 2.63% | ₹ 20.00 |
| 10 | Pictet - Indian Equities | 2,55,125 | 1.97% | ₹ 14.95 |
| Grand Total | 48,72,500 | 37.61% | ₹ 285.53 |
Data Source: BSE Filings (Value Allocated is ₹ in Crore)
The detailed and comprehensive report on the anchor allocation, with the mutual fund portion segregated, can be accessed on BSE by clicking on the link below.
Out of the 1,29,56,712 shares allocated to the anchors in the IPO, there was an allocation of 76,72,675 shares made to mutual funds regulated by SEBI. This anchor allocation to mutual funds was spread across 46 MF schemes of 20 asset management company (AMC). Mutual funds accounted for 59.22% of the overall anchor allocation.
Out of the 1,29,56,712 shares allocated to the anchors in the IPO, there was an allocation of 11,06,900 shares to made to 7 life insurance companies regulated by IRDAI. Life Insurance companies accounted for 8.54% of the overall anchor allocation.
The remaining anchor allocation was spread across FPIs, ODIs, SIFs, and alternate investment funds (AIFs).
NEXT STEPS IN BONFIGLIOLI TRANSMISSIONS LTD IPO
Post the closure of the IPO subscription on 19th October 2026, the basis of allotment will be finalized on 21st October 2026 and the refunds will be initiated on 22nd October 2026. In addition, the demat credits are expected to also happen on 22nd October 2026 and the stock will list on 23rd October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 22nd October 2026 under ISIN (INE28SO01013).
2026-10-19 — Final subscription (Day 3)
Bonfiglioli Transmissions Ltd (Day-3 Final Subscription at 46.06 times)
BONFIGLIOLI TRANSMISSIONS LTD - IPO SUBSCRIPTION STATUS ON DAY-3
As of 7.15 pm on 19th October 2026, out of the 302.82 lakh shares on offer in the IPO (excluding anchor portion), Bonfiglioli Transmissions Ltd saw bids for 13,946.57 lakh shares. This implies an overall subscription of 46.06X at a macro level. The granular break-up of subscriptions at close of Day-3 of the IPO of Bonfiglioli Transmissions Ltd was as under:
| Employees (7.43X) | QIBs (120.78X) | HNI / NII (40.40X) | Retail (5.91X) |
|---|
The subscriptions were led by the QIB Investors followed by the HNI / NII investors and the Retail investors in that order. QIB bids and NII bids typically gather most of the momentum only on the last day. That was the case in this IPO too. Both, the QIB portion and the HNI / NII portion saw bulk of the institutional, corporate and funded subscriptions come in on the last day of the IPO, with substantial oversubscription in the HNI / NII segment. The company had seen steady anchor participation a day ahead of the IPO opening with 29.97% of the IPO size absorbed by anchor investors. Here is the category-wise subscription. The overall subscription ratio excludes anchor portion.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (₹ in Crore) |
|---|---|---|---|---|
| Anchor Investors | 1.00 | 1,29,56,712 | 1,29,56,712 | 759.26 |
| Employee Quota | 7.43 | 50,000 | 3,71,425 | 21.77 |
| QIB Investors | 120.78 | 86,37,808 | 1,04,33,08,675 | 61,137.89 |
| HNIs / NIIs | 40.40 | 64,78,357 | 26,17,05,075 | 15,335.92 |
| Retail Investors | 5.91 | 1,51,16,165 | 8,92,71,650 | 5,231.32 |
| Total | 46.06 | 3,02,82,330 | 1,39,46,56,825 | 81,726.89 |
Data Source: NSE / BSE (as of close of Day-3 of the IPO)
The IPO of Bonfiglioli Transmissions Ltd was open up to October 19, 2026, and has closed for subscription as of the close of trading hours on October 19, 2026. The subscription ratios presented in the table above represent the final subscription numbers for each category and also for the IPO overall.
Generally, the listing price of the IPO and the post-listing performance tend to get influenced by the extent of oversubscription of the IPO. However, it must also be noted that a higher subscription is not an automatic guarantee of a strong listing performance for the IPO stock. The final subscription ratio excludes anchor portion. Total bids as of the close (including anchor allocation) stood at ₹82,486.15 crore.
NEXT STEPS IN THE BONFIGLIOLI TRANSMISSIONS LTD IPO
Post the closure of the IPO subscription on 19th October 2026, the basis of allotment will be finalized on 21st October 2026 and the refunds will be initiated on 22nd October 2026. In addition, the demat credits are expected to also happen on 22nd October 2026 and the stock will list on 23rd October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 22nd October 2026 under ISIN (INE28SO01013).
2026-10-19 — Allotment status
Bonfiglioli Transmissions Ltd IPO (How to check allotment status)
ABOUT THE BONFIGLIOLI TRANSMISSIONS LTD IPO
The IPO of Bonfiglioli Transmissions Ltd opened on October 15th, 2026 and closed on October 19th, 2026. The overall IPO comprised entirely of an offer for sale (OFS) of 4,32,39,042 shares (432.39 lakh shares) worth ₹2,533.81 crore at the upper price band of ₹586 per share.
The allotment status will be finalized by end of day (EOD) of October 21, 2026. Here is how to check your allotment status for the IPO of Bonfiglioli Transmissions Ltd. You can check IPO status on the BSE website or on the NSE website or on the IPO Registrar website (MUFG Intime India Private Ltd).
CHECKING THE ALLOTMENT STATUS OF BONFIGLIOLI TRANSMISSIONS LTD IPO ON BSE WEBSITE
This is a facility available to all mainboard IPOs, irrespective of who the registrar to the issue is. Visit the BSE link for the IPO allotment by clicking on the link below.
https://www.bseindia.com/investors/appli_check.aspx
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity Option
Under Issue Name – Select Bonfiglioli Transmissions Ltd from the drop-down box
Enter the Application Number / CAF exactly as in the acknowledgement slip OR
Enter your PAN (10-digit alphanumeric) number
Once this is done, you need to enter the Captcha Code (a 6-character alpha-numeric code) to verify you are not a robot
Finally click on the Submit Button
You can use either of the parameters to query; Application / CAF number or Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Bonfiglioli Transmissions Ltd allotted into your demat account. You can save a screenshot of the allotment status output for subsequently verifying with the demat account credits.
CHECKING ALLOTMENT STATUS OF BONFIGLIOLI TRANSMISSIONS LTD IPO ON NSE WEBSITE
This is a common link for all IPOs. Click on NSE link for IPO allotment as below.
https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Once you reach the page, here are the steps to follow.
Under Issue Type – Select Equity & SME IPO Bid Details Option
Under SELECT SYMBOL – Select BONFIG from the dropdown box
Enter the Application Number / CAF exactly as in the acknowledgement slip
Alternatively, you can enter your PAN (10-digit alphanumeric) number
Once the details are entered as above, you can click on Submit button.
Unlike in the past, to query allotment status on the NSE website, you need to only enter one of the inputs; Application / CAF number or the Investor PAN.
The allotment status will be displayed on the screen in front of you informing about the number of shares of Bonfiglioli Transmissions Ltd allotted into your demat account. You can save a screenshot of the allotment status output for tallying with the demat account credits.
CHECKING ALLOTMENT STATUS OF BONFIGLIOLI TRANSMISSIONS LTD ON MUFG INTIME INDIA PRIVATE LIMITED (REGISTRAR TO THE IPO)
Here are the steps to follow. Visit the Link Intime registrar website for IPO status by clicking on the link below:
https://in.mpms.mufg.com/Initial_Offer/public-issues.html
The first step is to select the company you want to query on. Here only companies where MUFG Intime India is the registrar and where allotment status has been finalized are shown.
Once you select the company for IPO query; there are 4 options available to you to access the allotment status, and you can use any of these options to query.
Firstly, you can use PAN access. Enter the 10-character alphanumeric income tax permanent account number (PAN). It is best to verify your PAN before entering; either from your PAN card or from your filed tax returns.
The second option is to use Application Number / CAF to query the allotment status in the IPO. The application / CAF number is available on the acknowledgement slip.
Thirdly, you can also use the 16-character DPID-Client ID combination. For NSDL, the combination is alphanumeric, while for CDSL, the combination is numeric. This is available in your demat statement as also in your trading account / contract note.
You can also query by the combination of your bank account number and IFSC number provided as the IPO mandate bank. These details will be available on your cheque book as also in your periodic bank statement.
Finally, click on the SUBMIT button.
In case, you have any issues with the output, register an investor query with Link Intime India Private Ltd. You can either send an email with all requisite details and problem to ipo.helpdesk@in.mpms.mufg.com or you can call on (0)-81081-14949 for voice call.
NEXT STEPS IN THE BONFIGLIOLI TRANSMISSIONS LTD IPO
Post the closure of the IPO subscription on 19th October 2026, the basis of allotment will be finalized on 21st October 2026 and the refunds will be initiated on 22nd October 2026. In addition, the demat credits are expected to also happen on 22nd October 2026 and the stock will list on 23rd October 2026 on the NSE and the BSE. The credits to the demat account to the extent of shares allotted will happen by the close of 22nd October 2026 under ISIN (INE28SO01013).
Interested in applying for this IPO?
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