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The primary market is set for a busy week, with four companies — Bonfiglioli Transmissions, Tonbo Imaging India, Sahajanand Medical Technologies and Zetwerk Manufacturing Business — preparing to launch their initial public offerings (IPOs) on 15 October.
The four IPOs will remain open for subscription until 19 October, while the anchor investor bidding for all four issues is scheduled for 14 October. Investors will have an opportunity to evaluate offerings spanning industrial power transmission, defence electronics, cardiac medical devices and technology-led manufacturing.
Among the four issues, Zetwerk has the largest IPO, worth ₹5,012 crore, followed by Bonfiglioli Transmissions at ₹2,534 crore. Tonbo Imaging is launching an ₹852 crore IPO, while Sahajanand Medical Technologies is looking to raise ₹475 crore through its public offering.
Here is a look at the GMP, IPO dates, price bands, issue sizes, offer structures, and key details for Bonfiglioli Transmissions, Tonbo Imaging, Sahajanand Medical Technologies, and Zetwerk.
Bonfiglioli Transmissions IPO GMP today, or grey market premium, is +153. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Bonfiglioli Transmissions share price was indicated at ₹739 apiece, which is 26.11% higher than the IPO price of ₹586.
Over the last three sessions, the IPO's GMP has fluctuated within a range of ₹38, with no clear directional trend. The latest GMP stands at ₹153, indicating changing grey market sentiment. Based on this premium, the estimated listing price is around ₹739, according to current grey market estimates. However, GMP is an unofficial indicator and does not guarantee listing gains.
Bonfiglioli Transmissions Ltd, the Indian subsidiary of Italy-based Bonfiglioli SpA, has fixed the price band for its ₹2,534 crore IPO at ₹558– ₹586 per share.
Bonfiglioli Transmissions IPO will open for subscription on 15 October and close on 19 October. The bidding for anchor investors is scheduled for 14 October.
The issue is entirely an offer for sale (OFS) of up to 4.32 crore equity shares by promoter Bonfiglioli S.p.A. There is no fresh issue component, meaning the company will not receive any proceeds from the IPO.
Bonfiglioli Transmissions provides mechanical and electro-mechanical power transmission and industrial drive solutions. Its product portfolio includes precision-engineered gear motors, gearboxes and drive systems catering to a range of end-user industries.
Tonbo Imaging IPO GMP today, or grey market premium, is +345. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Tonbo Imaging share price was indicated at ₹1,045 apiece, which is 49.29% higher than the IPO price of ₹700.
Over the past two sessions, the IPO's GMP has remained relatively stable, with fluctuations within a range of ₹75. The latest GMP is ₹345, indicating firm grey-market sentiment. Based on the current premium, the estimated listing price is around ₹1,045, compared with the issue price of ₹700, implying a potential listing gain of approximately 49.3%, according to grey market estimates. However, GMP is unofficial and does not guarantee listing gains.
Defence electronics maker Tonbo Imaging India has fixed the price band for its ₹852 crore IPO at ₹665– ₹700 per share.
The public issue will open on 15 October and close on 19 October, with anchor investor bidding scheduled for 14 October.
The IPO comprises an OFS of 1.22 crore equity shares by promoters and existing investors, with no fresh issue component. The selling shareholders include promoters Arvind Kondangi Lakshmikumar, Ankit Kumar and Cecilia D'Souza, along with other existing investors.
Since the issue is entirely an OFS, Tonbo Imaging will not receive any proceeds from the share sale.
Founded in 2003, Tonbo Imaging initially brought together technologists with experience at the US Department of Defence and Sarnoff Corporation. The company shifted its focus to defence product manufacturing in 2012 and operates in the defence electronics segment.
Sahajanand Medical Technologies IPO GMP today, or grey market premium, is +40. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sahajanand Medical Technologies share price was indicated at ₹384 apiece, which is 11.63% higher than the IPO price of ₹344.
Over the past two sessions, the IPO's GMP has remained unchanged, with no fluctuation recorded. The latest GMP stands at ₹40, indicating steady grey market sentiment. Based on the current premium, the estimated listing price is around ₹384, compared with the issue price of ₹344, implying a potential listing gain of approximately 11.63%, according to grey market estimates. However, GMP is unofficial and does not guarantee listing gains.
Sahajanand Medical Technologies Ltd, a manufacturer of cardiac stents, has set the price band for its ₹475 crore IPO at ₹327– ₹344 per share.
The issue will open for public subscription on 15 October and close on 19 October. Anchor investor bidding will take place on 14 October.
The IPO is entirely an OFS of up to 1.38 crore equity shares by existing shareholders. There is no fresh issue component, and the company will not receive any proceeds from the offering.
At the upper end of the price band, Sahajanand Medical Technologies is valued at approximately ₹3,497 crore.
Under the issue's allocation structure, qualified institutional buyers (QIBs) will receive 50% of the issue, non-institutional investors (NIIs) 15%, and retail individual investors 35%.
Zetwerk IPO GMP today, or grey market premium, is +14. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Zetwerk share price was indicated at ₹165 apiece, which is 9.27% higher than the IPO price of ₹151.
Over the past two sessions, the IPO's GMP has declined by ₹16, with the latest premium standing at ₹14. Based on the current GMP, the estimated listing price is around ₹165, compared with the issue price of ₹151, implying a potential listing gain of approximately 9.27%, according to grey market estimates. However, GMP is unofficial and does not guarantee listing gains.
Zetwerk Manufacturing Business Ltd is set to launch its ₹5,012 crore IPO on 15 October, with a price band of ₹143– ₹151 per share.
The issue will close on 19 October, while anchor investor bidding is scheduled for 14 October.
The IPO comprises a fresh issue of shares worth ₹2,830 crore and an OFS of 14.45 crore equity shares by existing shareholders. At the upper end of the price band, the OFS is valued at approximately ₹2,182 crore.
Promoters Amrit Pratik Acharya and Srinath Ramakkrushnan, along with promoter group entity Creovate Innovation, are among the shareholders selling shares. Existing investors, including Peak XV, Accel, Lightspeed and Kae Capital, are also participating in the OFS.
Unlike the other three offerings, Zetwerk's IPO includes a fresh issue component. The company plans to use the proceeds to repay debt at the company and subsidiary levels, fund unidentified acquisitions and meet general corporate purposes.
Founded in 2018, Zetwerk operates a technology-led manufacturing platform spanning renewable energy, electronics, aerospace, defence, AI infrastructure, oil and gas, and industrial automation.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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