Bonfiglioli Transmissions Rs.2,534-Cr IPO subscribed 46x

The initial public offering (IPO) of the Chennai-based, Indian subsidiary of Italy-based Bonfiglioli S.p.A. was subscribed 46.05 times. The INR 2,533.6-Cr IPO received bids for over 1.39 billion shares against 30.28 million shares on offer. The qualified institutional buyers (QIB) segment saw the highest demand with 120.78 times subscription. The non-institutional and retail portions were subscribed 40.39 times and 5.90 times, respectively.The company provides mechanical and electromechanical power transmission and industrial drive solutions, including precision-engineered gear motors and gearboxes used by original equipment manufacturers.The public issue is an offer for sale (OFS) of 43.2 million equity shares by the promoter, Bonfiglioli S.p.A. Axis Capital, BNP Paribas, ICICI Securities, and Jefferies India are the book-running lead managers for the transaction.