BD Industries shares list flat at Rs 108.9 on BSE SME platform

Shares of BD Industries, a manufacturer of rotationally moulded plastic products, listed at Rs 108.9 apiece on the BSE SME platform on Wednesday after closing its Rs 45.36 crore IPO with a moderate subscription and no traction in the grey market. The listing price was 0.8% higher than the IPO price.

The grey market premium (GMP) on the company's shares ahead of the listing stood at Rs 0, suggesting a flat listing is likely, with little to no upside expected over the issue price of Rs 108 per share.

The IPO, which ran from July 30 to August 1, was a completely fresh issue of 42 lakh equity shares. Despite its modest size, the issue did not witness enough demand from investors.


The IPO was subscribed 1.81 times overall, with the retail portion seeing a subscription of 1.32 times, the qualified institutional buyer (QIB) category at 1.27 times, and the non-institutional investor (NII) segment leading with a 3.66 times subscription.

The company priced its issue in a band of Rs 102 to Rs 108 per share

Founded in 1984, BD Industries manufactures plastic fuel tanks, hydraulic tanks, fenders, urea tanks, and a variety of other products for the automotive, marine, and industrial segments. The company caters to diverse sectors with a scalable and asset-heavy manufacturing setup.

Financially, BD Industries has posted sharp improvements in profitability. Revenue grew 52% year-on-year to Rs 84.13 crore in FY25, while PAT surged 156% to Rs 8.15 crore.

The flat GMP heading into the listing day signals weak demand in the unofficial market. Investors will be closely watching early trade on Wednesday to assess if fundamentals can overcome sentiment.

Aryaman Financial Services acted as the book-running lead manager, and Aryaman Capital Markets was the market maker.

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