Bhadora Industries IPO: Check GMP, price band, issue size and other details

The initial public offering (IPO) of Bhadora Industries will open for subscription today, August 4, aiming to raise Rs 55.62 crore through a 100% fresh issue of 54 lakh shares. The IPO is priced in the band of Rs 97 to Rs 103 per share, and early grey market activity suggests a tepid GMP of Rs 1, indicating modest listing expectations.

The offer will close on August 6, with allotment expected on August 7. Shares are proposed to list on the NSE SME platform on August 11. Unistone Capital is managing the issue, and Link Intime is acting as registrar. NNM Securities is the designated market maker.

Retail investors can apply for a minimum of 2,400 shares (2 lots), requiring an outlay of Rs 2.47 lakh.


Bhadora Industries is a Tikamgarh, Madhya Pradesh-based manufacturer of industrial-grade cables, including PVC, XLPE, and aerial bunched cables, supplied under the “Vidhut Cables” brand. The company caters to state electricity boards, EPC players, and infrastructure developers across 17 states in India.

Its product portfolio aligns with critical electrification and infrastructure development needs under government schemes like Deendayal Upadhyay Gram Jyoti Yojana (DDUGJY) and IPDS.

Financially, the company has shown strong momentum: revenue grew 33% YoY to Rs 110.69 crore in FY25, while net profit more than doubled to Rs 10.79 crore.

The proceeds from the IPO will fund the setup of a new cable manufacturing facility in Khargone, Madhya Pradesh (Rs 22.32 crore), working capital needs (Rs 20 crore), and general corporate purposes.