Bonfiglioli Transmissions IPO Opens Oct 15; Promoter Sells 4.32 Crore Shares

⚡ Key Financial Takeaways

The IPO opens on October 15 and closes on October 19, with listing scheduled for October 23.

The issue is entirely an Offer for Sale (OFS) of 4.32 crore shares by the promoter, Bonfiglioli S.p.A., with no fresh issue component.

Profit for H1 FY26 rose 29.2% to Rs 148.6 crore, while revenue increased 17.9% to Rs 1,131.9 crore.

Industrial and automation, off-highway mobility, and wind sectors contributed 42%, 28%, and 27% of revenue, respectively, in H1 FY26.

The price band will be announced on October 12, and the anchor book opens on October 14.

💡 Why It Matters

The IPO provides an entry point for investors into a key player in India’s industrial automation and power transmission sector. The reduction in OFS size and the strong double-digit growth in both revenue and profit in the first half of FY26 highlight the company’s operational momentum and the promoter’s strategic approach to liquidity.

IPO Timeline and Structure

Bonfiglioli Transmissions, the Indian subsidiary of Italy-based Bonfiglioli S.p.A., has filed its Red Herring Prospectus (RHP) with the Registrar of Companies (RoC). The company’s Initial Public Offering (IPO) is set to open for public subscription on October 15, 2026, and will close on October 19. The price band is expected to be announced on October 12, while the anchor book for institutional investors will open for one day on October 14. Share allotment is expected to be finalized by October 21, with the equity shares scheduled to list on stock exchanges on October 23.

The IPO is structured entirely as an Offer for Sale (OFS) of 4.32 crore equity shares by the promoter, Bonfiglioli S.p.A. There is no fresh issue component, meaning the company itself will not receive any proceeds from the public issue. The net proceeds, after deducting issue expenses and reserving 50,000 shares for employees, will accrue to the promoter. The OFS size has been reduced from the 4.69 crore shares proposed in the earlier Draft Red Herring Prospectus (DRHP).

Investor Quotas and Regulatory Approval

The offer is divided among three investor categories: 50% is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. Bonfiglioli Transmissions filed its IPO papers with the Securities and Exchange Board of India (SEBI) in February 2026, and the regulator approved the draft offer documents in June 2026. Axis Capital, BNP Paribas, ICICI Securities, and Jefferies India have been appointed as the merchant bankers for the issue.

Financial Performance and Business Profile

Bonfiglioli Transmissions is a major provider of mechanical and electromechanical power transmission and industrial drive solutions in India. The company manufactures precision-engineered gear motors, gearboxes, and drive systems for Original Equipment Manufacturers (OEMs) and end-users. Its primary sectors include industrial and automation, off-highway mobility, and wind energy.

In the first half of the fiscal year 2026 (January–June), the company reported strong financial growth. Revenue increased by 17.9% to Rs 1,131.9 crore, up from Rs 960.4 crore in the corresponding period of the previous year. Profit rose by 29.2% to Rs 148.6 crore from Rs 115 crore. The industrial and automation segment contributed the largest share of revenue at 42%, followed by off-highway mobility at 28% and the wind sector at 27%.

For the full fiscal year ended December 2025, the company’s revenue grew by 8.6% to Rs 2,013.5 crore, while profit increased by 21.9% to Rs 237.9 crore. The company follows a January–December calendar year as its financial year.

🏛️ Background & Context

Bonfiglioli Transmissions is part of the Bonfiglioli Group, an Italian company specializing in power transmission and drive solutions. In India, the company serves critical industries such as wind energy and off-highway mobility, which are significant components of the country’s industrial infrastructure. The IPO is one of four public issues opening on October 15, alongside Tonbo Imaging India, Zetwerk Manufacturing Business, and Sahajanand Medical Technologies.