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The scrip was listed at Rs 101, a discount of 1.94% over the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 106.05 and a low of Rs 101. About 15.65 lakh shares of the company changed hands at the counter. Bhadora Industries's IPO was subscribed 96.25%. The issue opened for bidding on 4 August 2025 and it closed on 6 August 2025. The price band of the IPO was set at Rs 97 to 103 per share. The IPO comprised fresh issue of 54,00,000 shares. The company intends to utilize the net proceeds for part finance the cost of establishing new manufacturing facility to expand its production capabilities of cables at Khargone in Madhya Pradesh; funding the working capital requirements of the company; and for general corporate purposes. Ahead of the IPO, Bhadora Industries on 1 August 2025, raised Rs 15.77 crore from anchor investors. The board allotted 15.31 lakh shares at Rs 103 per share to 11 anchor investor. Bhadora Industries manufactures industrial cables under the Vidhut Cables brand, catering to government DISCOMs and EPC companies across diverse industrial sectors. Initially focused on Polyvinyl Chloride (PVC) cables, the company has since expanded its product line to include Low Voltage (LV) cables, LT Aerial Bunched Cables, and Cross-Linked Polyethylene (XLPE) cables, each tailored for efficient electricity transmission, from low voltage distribution to high-performance overhead lines. Upholding strict safety and performance standards, Bhadora's manufacturing facility is equipped with an in-house testing lab that ensures consistent quality control while staying aligned with evolving industry demands. As of 30 June 2025, the company had 87 employees. The company recorded revenue from operations of Rs 110.11 crore and net profit of Rs 10.78 crore for the period ended 31 March 2025. Powered by Capital Market - Live News |