The B. D. Industries (Pune) Limited IPO is a significant event in the SME segment, opening for subscription from July 30 to August 1, 2025. As a manufacturer of rotationally molded plastic products with a 40-year legacy, this IPO aims to raise ₹45.36 crores to fuel expansion and reduce debt. With strong FY2025 financial growth and a niche product portfolio, this IPO has captured investor attention. This comprehensive guide covers every critical aspect – from live GMP updates and financial analysis to risks and expert recommendations – empowering you to make an informed investment decisio
About IPO Details
The B. D. Industries IPO is a fresh issue of 42 lakh shares, aggregating up to ₹45.36 crores at the upper price band.
| Parameter | Details |
|---|---|
| IPO Type | Book-Built Issue (Fresh Issue) |
| Exchange | BSE SME |
| Price Band | ₹102 to ₹108 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,200 Shares |
| Min. Investment | ₹2,59,200 (2 Lots) |
| Total Issue Size | 42,00,000 Shares (₹45.36 Cr) |
| Market Maker Portion | 2,16,000 Shares (₹2.33 Cr) |
| Net Public Offer | 39,84,000 Shares (₹43.03 Cr) |
| Book Running Lead Manager | Aryaman Financial Services Limited |
| Market Maker | Aryaman Capital Markets Limited |
About the IPO Company Details
B. D. Industries (Pune) Ltd., established in 1984, specializes in rotational molding technology to manufacture industrial and automotive plastic components.
Core Products:
- Automotive: Fuel tanks (off-road vehicles), urea tanks, tractor fenders, cabin roofs, mudguards.
- Industrial: Pallets (F&B, pharma, chemicals), barricades, battery boxes, marine products.
Manufacturing Facilities:
- Operational Units: Pune (MH), Dewas (MP), Hoshiarpur (PB).
- Under Construction: Zaheerabad (TG) – Expanding capacity for diversified product mix.
Competitive Strengths:
- 40+ years of industry experience.
- Diversified client base across automotive, safety, and healthcare sectors.
- ISO-certified manufacturing with in-house tooling capabilities.
- Strong FY2025 revenue growth (52%) and PAT surge (156%).
IPO GMP (Grey Market Premium) Today
As of July 30, 2025 (Live Update):
- GMP: ₹25–₹30 (indicating strong grey market demand).
- Estimated Listing Price: ₹127–₹138 per share (17.5–27.8% premium).
Note: GMP fluctuates daily. Check our IPO GMP Tracker for real-time updates.
IPO Company Financial Data (Restated Consolidated)
Amounts in ₹ Crore:
| Financials | FY 2025 | FY 2024 | FY 2023 | Growth (YoY) |
|---|---|---|---|---|
| Total Revenue | 84.13 | 55.33 | 55.10 | 52% (FY25 vs FY24) |
| Profit After Tax | 8.15 | 3.18 | 1.49 | 156% (FY25 vs FY24) |
| EBITDA | 15.58 | 5.79 | 3.21 | 169% |
| Total Assets | 68.90 | 31.96 | 27.18 | 115% |
| Net Worth | 21.14 | 13.54 | 10.36 | 56% |
| Total Borrowings | 22.19 | 5.06 | 2.21 | 338% |
Analysis:
- Revenue stagnated in FY2023–24 but surged in FY2025 due to new contracts.
- Debt increased sharply (₹5.06 Cr → ₹22.19 Cr) to fund expansion.
- PAT margins improved from 5.7% (FY24) to 9.2% (FY25).
IPO Application & Lot Size Details
- Min. Retail Application: 2 Lots (2,400 shares) = ₹2,59,200
- Max. Retail Application: 2 Lots (2,400 shares) = ₹2,59,200
- HNI (S-HNI): Min 3 Lots (3,600 shares) = ₹3,88,800
- HNI (B-HNI): Min 8 Lots (9,600 shares) = ₹10,36,800
Apply via ASBA through net banking or trading platforms. UPI mandate must be confirmed by 5 PM on August 1, 2025.
IPO Reservation Quota
| Investor Category | Shares Reserved | Percentage | Amount (₹ Cr) |
|---|---|---|---|
| Market Maker | 2,16,000 | 5.14% | 2.33 |
| QIB | 19,92,000 | 47.43% | 21.51 |
| NII (HNI) | 5,97,600 | 14.23% | 6.45 |
| Retail (RII) | 13,94,400 | 33.20% | 15.06 |
| Anchor Investors | 11,95,200 | 28.46% | 12.91 |
| Total | 42,00,000 | 100% | 45.36 |
IPO Promoter Holding Details
- Promoters: Dalbirpal Saini, Arti Saini, Akshay Saini, Rahul Saini.
- Pre-IPO Holding: 100% (1,00,10,000 shares).
- Post-IPO Holding: 70.44% (1,00,10,000 shares out of 1,42,10,000).
- Equity Dilution: 29.56% (to public & anchor investors).
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Open | July 30, 2025 (Wed) |
| IPO Close | August 1, 2025 (Fri) |
| Allotment Finalization | August 4, 2025 (Mon) |
| Refund Initiation | August 5, 2025 (Tue) |
| Demat Credit | August 5, 2025 (Tue) |
| Listing Date | August 6, 2025 (Wed) |
IPO Investor Category Reservations
- Retail (RII): 33.20% (13.94 lakh shares)
- Non-Institutional (NII): 14.23% (5.97 lakh shares)
- Qualified Institutional (QIB): 47.43% (19.92 lakh shares)
- Anchor Investors: 28.46% (11.95 lakh shares)
IPO Anchor Investor Details
- Anchor Portion Size: ₹12.91 Crores (11,95,200 shares).
- Bid Date: July 29, 2025.
- Lock-in Period:
- 50% shares locked for 30 days (till September 3, 2025).
- Remaining 50% locked for 90 days (till November 2, 2025).
Key Performance Indicators (KPI)
As of March 31, 2025:
| KPI | Value |
|---|---|
| ROE | 43.86% |
| ROCE | 43.50% |
| Debt/Equity | 1.05 |
| RONW | 35.97% |
| PAT Margin | 9.23% |
| EBITDA Margin | 18.92% |
| Book Value | ₹14.87 |
| EPS (Pre-IPO) | ₹8.14 |
| EPS (Post-IPO) | ₹5.73 |
| P/E (Pre-IPO) | 13.27x |
| P/E (Post-IPO) | 18.83x |
Company Contact Details
B. D. Industries (Pune) Ltd.
- Address: 15th Floor, 1501-B, Universal Majestic, PL Lokhande Marg, G M Link Road, Near RBK International School, Govandi West, Mumbai, Maharashtra 400043.
- Phone: 022-6249-0801
- Email: cs@bdi-group.org
- Website: www.bdi-group.org
IPO Registrar Details
Cameo Corporate Services Limited
- Phone: +91-44-28460390
- Email: priya@cameoindia.com
- Website: ipo.cameoindia.com
IPO Recommendation: Buy or Not?
Subscribe for Long-Term Hold:
- Strengths:
- Dominant player in rotational molding with diversified industrial applications.
- Robust FY2025 financial performance (Revenue ↑52%, PAT ↑156%).
- Expansion into Zaheerabad to boost capacity.
- Concerns:
- Aggressive valuation at P/E of 18.83x post-IPO.
- High debt (₹22.19 Cr) impacting financial flexibility.
- Static revenue in FY2023–24 raises sustainability questions.
Verdict: Suitable for investors with high risk appetite and long-term horizon. Avoid short-term flipping.
IPO RHP/DRHP
- Draft Red Herring Prospectus (DRHP): B. D. Industries DRHP PDF
- Red Herring Prospectus (RHP): B. D. Industries RHP PDF
Review these documents for risk factors, object utilization plans, and detailed financials.
IPO Review: Pros and Cons
| Pros | Cons |
|---|---|
| ✅ Strong FY2025 Growth (PAT ↑156%) | ❌ Aggressive Pricing (P/E 18.83x post-IPO) |
| ✅ Niche Product Portfolio | ❌ Rising Debt (↑338% YoY) |
| ✅ Scalable Manufacturing Model | ❌ Volatile Raw Material Prices |
| ✅ Experienced Promoter Team (40+ years) | ❌ Limited Liquidity (BSE SME listing) |
Frequently Asked Questions (FAQs)
1. What is B. D. Industries IPO GMP today?
As of July 30, 2025, GMP is ₹25–₹30. Check our Live IPO GMP Tracker for updates.
2. When will B. D. Industries IPO allotment be finalized?
Tentatively on August 4, 2025.
3. What is the lot size of the B. D. Industries IPO?
1,200 shares. Retail investors must apply for 2 lots (₹2,59,200).
4. How are IPO funds being utilized?
Repay debt (₹18.4 Cr), working capital (₹14.6 Cr), machinery purchase (₹5.4 Cr), and corporate purposes.
5. Who are the promoters of B. D. Industries?
Dalbirpal Saini, Arti Saini, Akshay Saini, and Rahul Saini.
6. What is the debt/equity ratio?
1.05 (as of March 2025).
7. Why did revenue stagnate in FY2023–24?
Supply chain disruptions and delayed client onboarding. FY2025 shows recovery.
8. When is the listing date?
August 6, 2025, on BSE SME.
9. How to check allotment status?
Via registrar Cameo Corporate Services or BSE website.
10. Is this IPO good for long-term?
Yes, if you believe in India’s industrial growth and can tolerate SME volatility.
Conclusion
The B. D. Industries IPO presents a high-risk, high-reward opportunity. While its FY2025 performance and niche market position are compelling, the aggressive valuation and debt burden warrant caution. Retail investors should limit exposure, while long-term investors can consider subscribing for the scalable business model. Monitor GMP trends until listing and review the RHP for critical risk disclosures. For more SME IPO insights, explore our analysis of Aditya Infotech IPO and Laxmi India Finance IPO.
