This Italian gear maker is eyeing $250M IPO in India
What's the story
Bonfiglioli Transmissions, the Indian arm of Italian gear manufacturer Bonfiglioli Group, is considering an initial public offering (IPO) in Mumbai. The move could raise around $250 million. The company has hired Axis Capital Ltd, ICICI Securities Ltd, JPMorgan Chase & Co, and BNP Paribas SA to manage the listing process here.
Market trend
MNCs are increasingly looking at Indian capital markets
Bonfiglioli's potential IPO comes as a wave of multinational companies look to tap into India's robust equity capital markets. The trend was led by Hyundai Motor Company, which raised $3.3 billion in a record-breaking debut in October 2024. Italy's Carraro SpA followed suit with a $147 million listing for its local unit, while LG Electronics has regulatory approval for a $1.7 billion share sale.
Business profile
What does Bonfiglioli make?
Bonfiglioli is a leading manufacturer of gearboxes and gearmotors. Its products are used in various industries, including mobile machinery, wind turbines, food processing, packaging, as well as cement and steel. The company's decision to consider an IPO further highlights the growing interest of foreign firms in India's booming stock market.