Bhadora Industries IPO
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Schedule of Bhadora Industries
| Issue open date | 04 Aug 2025 |
| Issue close date | 06 Aug 2025 |
| UPI mandate deadline | 06 Aug 2025 (5 PM) |
| Allotment finalization | 07 Aug 2025 |
| Refund initiation | 08 Aug 2025 |
| Share credit | 08 Aug 2025 |
| Listing date | 11 Aug 2025 |
| Mandate end date | 21 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 06 Sep 2025 |
| Lock-in end date for anchor investors (remaining) | 05 Nov 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Bhadora Industries
Incorporated in 1986, Bhadora Industries Limited is engaged in the manufacturing of industrial cables designed for efficient electricity transmission and distribution.
The company markets its products under the brand name “Vidhut Cables” and caters mainly to government electricity boards (discoms) and EPC contractors across various industrial sectors. Its product portfolio includes Low Voltage (LV) Cables, LT Aerial Bunched (AB) Cables, LT XLPE Power Cables, and LT PVC Power Cables.
Financials of Bhadora Industries
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹55.62 crores |
| Fresh Issue | ₹55.62 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Part finance the cost of establishing new manufacturing facility to expand our production capabilities of cables at Plot Nos. 188/1, Village Panwa Tehsil Kasrawad, District Khargone, MP, India (“Proposed new facility”) | 22.32 (40.12% |
| Funding working capital requirements | 20 (36%) |
| General corporate purposes |
Strengths
- In-house manufacturing and testing capabilities ensure quality control and cost efficiencies
- Diverse product portfolio including LV, LT AB, LT XLPE, and LT PVC power cables
- Established clientele and government approvals reflecting product reliability and regulatory compliance
- Promoters’ extensive industry experience adds operational depth and leadership continuity
- Established brand presence under ‘Vidhut Cables’ reinforces visibility in target markets
- Strong revenue and profitability growth over recent fiscal years
Risks
- High client concentration, with top 10 customers contributing over 86% of FY25 revenue
- Significant reliance on EPC contractors exposes the business to segment-specific slowdowns
- Raw material price volatility, particularly in copper and aluminium, may affect margins
- Exposure to legal and tax proceedings, could affect the growth and financials if ruled unfavourably
- Competitive and rapidly evolving market combined with regulatory challenges