Bonfiglioli Transmissions IPO (₹2534 cr) opens Oct 15–19 at ₹558–586. Check lot size, financials, risks, allotment steps, listing date and FAQs.
Last updated: Tue, Oct 13, 2026, 11:03 AM IST
- IPO dates: Thu, Oct 15, 2026 to Mon, Oct 19, 2026
- Price band: ₹558 to ₹586 per share
- Lot size: 25 shares (₹14,650 at the upper band)
- Issue size: ₹2,534 crore
Bonfiglioli Transmissions Ltd., a manufacturer of gearboxes, gear motors, and drive systems, is raising ₹2,534 crore through its IPO, which opens on Thu, Oct 15, 2026 and closes on Mon, Oct 19, 2026 at a price band of ₹558 to ₹586 per share. The issue is entirely an offer for sale by existing shareholders. Here is everything you need to know about the Bonfiglioli Transmissions IPO.
Bonfiglioli Transmissions IPO Details
| Field | Value |
|---|---|
| IPO date | Thu, Oct 15, 2026 to Mon, Oct 19, 2026 |
| Listing date | To be announced |
| Face value | ₹10 per share |
| Price band | ₹558 to ₹586 per share |
| Lot size | 25 shares |
| Total issue size | 4,32,39,042 shares (₹2,534 crore) |
| Listing at | NSE & BSE |
| Lead managers | Axis Capital Ltd., BNP Paribas, ICICI Securities Ltd, Jefferies India Pvt Ltd. |
| Registrar | MUFG Intime India Pvt Ltd. |
Bonfiglioli Transmissions IPO Timeline
| Event | Date |
|---|---|
| Anchor bidding | Wed, Oct 14, 2026 (tentative) |
| IPO opens | Thu, Oct 15, 2026 |
| IPO closes | Mon, Oct 19, 2026 |
| UPI mandate cut-off | Mon, Oct 19, 2026, 5 PM |
| Basis of allotment | Tue, Oct 20, 2026 (tentative) |
| Refunds initiated | Wed, Oct 21, 2026 (tentative) |
| Shares credited to demat | Wed, Oct 21, 2026 (tentative) |
| Listing date | Thu, Oct 22, 2026 (tentative) |
Dates other than IPO open, close and listing follow SEBI’s standard T+3 listing schedule (T = the close date) and can shift for exchange holidays.
Bonfiglioli Transmissions IPO Lot Size and Minimum Investment
| Application | Lots | Shares | Amount (₹, at upper band) |
|---|---|---|---|
| Retail (minimum) | 1 | 25 | 14,650 |
| Retail (maximum) | 13 | 325 | 1,90,450 |
| sNII (minimum) | 14 | 350 | 2,05,100 |
| sNII (maximum) | 68 | 1,700 | 9,96,200 |
| bNII (minimum) | 69 | 1,725 | 10,10,850 |
For example, at the upper price band of ₹586, one lot of 25 shares needs ₹14,650 (25 × ₹586). Retail investors can apply for up to 13 lots (₹1,90,450), within the ₹2 lakh retail limit.
About Bonfiglioli Transmissions
Bonfiglioli Transmissions Ltd. is a manufacturer of gearboxes, gear motors, and drive systems, serving customers in the Industry & Automation, Off-Highway Mobility, and Wind Industry sectors. The company earns revenue through the sale of these products to original equipment manufacturers (OEMs) and end-users. As per the DRHP, the company holds a 25-year legacy in India, supported by diversified sector exposure and reliable customer relationships.
The company operates three manufacturing facilities located in Tamil Nadu and Maharashtra. These facilities had a combined available annual manufacturing capacity of 1,205,748 hours in Fiscal 2025. By maintaining these operations, the company serves as a provider of gearboxes and drives for OEMs and end-users across its primary business verticals. The business model focuses on providing technology-led power transmissions and co-engineered industrial drive solutions to its clients.
As an established player in the electric equipment sector, the company leverages global research and development capabilities to introduce new products into the Indian market. Its operations are built on decades of collaboration with marquee customers, supported by an extensive sales team and dealer network. The company continues to focus on its core manufacturing processes to maintain its market position in the power transmission space.
Bonfiglioli Transmissions Financial Performance
| Metric | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|
| Revenue from operations (₹ crore) | 1,864.08 | 1,687.51 | 1,558.80 |
| Total income (₹ crore) | 1,871.05 | 1,701.98 | 1,570.33 |
| Profit after tax (₹ crore) | 191.12 | 147.70 | 168.75 |
| Net worth (₹ crore) | 853.09 | 805.34 | 725.37 |
| Total borrowings (₹ crore) | — | 110.79 | 143.74 |
| EPS (₹) | 10.25 | 7.71 | 8.85 |
- Revenue from operations grew 8.3% in FY 2022-23 to ₹1,687.51 crore and further increased by 10.5% in FY 2023-24 to ₹1,864.08 crore, showing a consistent upward trend.
- Profit after tax fell 12.5% in FY 2022-23 to ₹147.70 crore but recovered with 29.4% growth in FY 2023-24 to reach ₹191.12 crore, reflecting improved bottom-line performance.
- The PAT margin fluctuated over the period, moving from 10.83% in FY 2021-22 to 8.75% in FY 2022-23, before recovering to 10.25% in FY 2023-24.
- The company reported a return on equity of 23.05% in FY 2023-24, indicating the efficiency with which it generated profits from shareholders’ capital during that fiscal year.
Bonfiglioli Transmissions IPO Valuation and Key Ratios
| Metric | Value |
|---|---|
| Return on equity, FY 2023-24 (%) | 23.05 |
| PAT margin, FY 2023-24 (%) | 10.25 |
The Bonfiglioli Transmissions IPO is priced at a face value of ₹10 per share. Based on the financial performance in FY 2023-24, the company reported a PAT margin of 10.25% and a return on equity of 23.05%. The DRHP lists several listed peers for comparison, including Elecon Engineering Company Limited with a P/E ratio of 31.63, Shanthi Gears Limited with a P/E ratio of 63.39, Schaeffler India Limited with a P/E ratio of 53.74, and Timken India Limited with a P/E ratio of 57.66.
Promoters and Shareholding
Promoters: Sonia Bonfiglioli, Luciano Bonfiglioli, Luisa Lusardi, Bon-FI S.R.L, Bonfiglioli S.P.A..
| Holder | Pre-issue % | Post-issue % |
|---|---|---|
| Promoter & promoter group | 100% | — |
| Public | 0% | — |
The promoters of the company are Sonia Bonfiglioli, Luciano Bonfiglioli, Luisa Lusardi, Bon-FI S.R.L, and Bonfiglioli S.P.A. Currently, the promoter and promoter group hold 100% of the equity shares. As this IPO is an offer for sale, the shareholding pattern will shift to include public shareholders upon listing, though the specific post-issue stake is not disclosed.
Objects of the Issue
The objects of the offer are to carry out an offer for sale of up to 43,239,042 equity shares by the promoter selling shareholder and to achieve the benefits of listing on the stock exchanges. Because this is an offer for sale, the company will not receive any proceeds from the issue, and the company’s existing share capital will remain unchanged.
Strengths and Risks
Strengths
- The company is an end-to-end, technology-led power transmissions provider with a 25-year legacy in India.
- It maintains highly diversified offerings across business verticals and customer industries, supported by global R&D capabilities.
- The company benefits from deep, long-standing relationships with marquee customers and a stable, experienced management team.
- Manufacturing operations are supported by three facilities with a combined annual capacity of 1,205,748 hours in Fiscal 2025.
Risks
- The company faces customer concentration risk, with the top 10 OEM customers representing 31.72% of revenue in the six months ended June 30, 2026.
- Operations are subject to raw material price volatility and potential duties on imported components that could affect business costs.
- There are outstanding legal proceedings involving the company, directors, and promoters, including tax claims and recovery cases.
- The company is exposed to counterparty credit risk, where an inability to collect receivables could impact cash flows.
Things Investors Should Know
- The minimum investment for retail investors is ₹14,650 for one lot of 25 shares at the upper price band of ₹586.
- The IPO opens on Thu, Oct 15, 2026 and closes on Mon, Oct 19, 2026, with a UPI mandate cut-off at 5 PM on the closing day.
- The lead managers for the issue are Axis Capital Ltd., BNP Paribas, ICICI Securities Ltd, and Jefferies India Pvt Ltd.
- The registrar for the IPO is MUFG Intime India Pvt Ltd.
- This issue is an offer for sale, meaning all proceeds go to the selling shareholders rather than the company.
- Investors can track the progress of the issue through the ThePip IPO calendar.
How to Check Bonfiglioli Transmissions IPO Allotment Status
- Registrar: open the IPO allotment status page of MUFG Intime India Pvt Ltd. (https://in.mpms.mufg.com/), select Bonfiglioli Transmissions, and enter your PAN, application number or DP/client ID.
- BSE: on bseindia.com, open the IPO allotment status page, choose “Equity”, select the issue name, and enter your application number and PAN.
- NSE: look up the issue on nseindia.com and use its application status option with your application number and PAN.
- Broker or UPI app: most brokers and UPI apps also show whether your application was allotted.
If you are not allotted shares, the amount blocked in your bank account through ASBA or your UPI mandate is released after the refund date. No money is debited.
Bonfiglioli Transmissions IPO Listing Details
| Field | Value |
|---|---|
| Exchanges | NSE & BSE |
Bonfiglioli Transmissions IPO FAQs
What is the Bonfiglioli Transmissions IPO price band?
The Bonfiglioli Transmissions IPO has a price band set between ₹558 and ₹586 per share. Retail investors typically bid at the upper end of the price band to increase their chances of allotment. The face value of each equity share is ₹10.
When does the Bonfiglioli Transmissions IPO open and close?
The Bonfiglioli Transmissions IPO is scheduled to open for subscription on Thu, Oct 15, 2026. The issue will close for bidding on Mon, Oct 19, 2026. Investors must ensure their UPI mandates are submitted by 5 PM on the closing date.
What is the Bonfiglioli Transmissions IPO lot size and minimum investment?
The lot size for the Bonfiglioli Transmissions IPO is 25 shares. At the upper price band of ₹586 per share, the minimum investment required for a single lot is ₹14,650. Investors must apply in multiples of this lot size.
What is the Bonfiglioli Transmissions IPO allotment date and how do I check allotment status?
The tentative basis of allotment for the Bonfiglioli Transmissions IPO is Tue, Oct 20, 2026. You can check your allotment status through the registrar, MUFG Intime India Pvt Ltd., by visiting their official website once the allotment process is completed.
Who are the promoters of Bonfiglioli Transmissions and how much will they hold after the IPO?
The promoters of the company are Sonia Bonfiglioli, Luciano Bonfiglioli, Luisa Lusardi, Bon-FI S.R.L, and Bonfiglioli S.P.A. They currently hold 100% of the company’s equity. Following the completion of this offer for sale, the exact post-issue shareholding percentage for the promoters has not been disclosed.
How will Bonfiglioli Transmissions use the IPO money?
The Bonfiglioli Transmissions IPO is an offer for sale, meaning all shares are sold by existing shareholders. Consequently, the company will not receive any proceeds from the issue. The funds will go directly to the selling shareholders, not into the company’s business operations.
Who is the registrar and lead manager of the Bonfiglioli Transmissions IPO?
The registrar for the Bonfiglioli Transmissions IPO is MUFG Intime India Pvt Ltd. The lead managers appointed to manage the issue are Axis Capital Ltd., BNP Paribas, ICICI Securities Ltd, and Jefferies India Pvt Ltd. These entities oversee the regulatory and administrative aspects of the IPO.
Is the Bonfiglioli Transmissions IPO a fresh issue or an offer for sale?
The Bonfiglioli Transmissions IPO is entirely an offer for sale. This means existing shareholders are selling their stake to the public. There is no fresh issue of shares, so the company’s total paid-up share capital will remain unchanged after the IPO process is finalized.
What are the key risks of the Bonfiglioli Transmissions IPO?
Key risks include customer concentration, as the top 10 OEM customers accounted for 31.72% of revenue in the six months ended June 30, 2026. Additionally, the company faces risks from raw material price volatility, outstanding legal proceedings involving the company and promoters, and potential counterparty credit risks regarding receivables.
This article is for information only and is not investment advice. Business, risk and litigation details are as per the company’s DRHP; issue, financial and exchange data are from ThePip’s IPO database as of Tue, Oct 13, 2026, 11:03 AM IST. IPO investments are subject to market risks; read the offer document carefully before investing.
