SME IPO: Bhadora Industries lists at ₹101 per share
Bhadora Industries, known for making industrial cables, debuted on the NSE SME platform today.
The stock opened at ₹101 per share—just below its IPO price of ₹103—after its IPO saw 96% overall subscription between August 4-6.
How was the IPO?
The company raised ₹55.62 crore by issuing 54 lakh new shares.
Retail investors showed the most interest (98% subscribed), while institutional buyers were less enthusiastic (68%).
Non-institutional investors subscribed 1.28 times their quota.
What does Bhadora do?
Bhadora makes "Vidhut Cables" used mainly by government electricity boards and contractors for power transmission and distribution.
Their lineup includes various low voltage and specialty power cables for different industries.
Not much excitement around this IPO
With no buzz in the gray market and a flat listing, Bhadora's IPO is all about raising funds to grow bigger.