Friday, August 11, 2023

Bondada Engineering Limited’s SME Initial Public Offering to open on Friday, August 18, 2023, sets a fixed price issue at ₹75 per Equity Share

Fixed Price Issue of ₹75 per equity share bearing face value of ₹10 each (“Equity Shares”)
Bid/Offer Opening Date – Friday, August 18, 2023 and Bid/Offer Closing Date – Tuesday, August 22, 2023.
Minimum Bid Lot is 1600 Equity Shares and in multiples of 1600 Equity Shares thereafter.
The Issue Price is 7.5 times the face value of the Equity Share.

Mumbai, August 11, 2023: Hyderabad based infrastructure player Bondada Engineering Limited, engaged in the business of providing engineering, procurement and construction (“EPC”) services and operations and maintenance (“O&M”) services to its pan India customers operating in telecom and solar energy industry has set a fixed price issue at ₹75 per Equity Share for its maiden SME public offer. The SME initial public offering (“IPO” or “Offer”) of the Company will open on Friday, August 18, 2023, for subscription and closes on Tuesday, August 22, 2023. Investors can bid for a minimum of 1600 Equity Shares and in multiples of 1600 Equity Shares thereafter.

The Public Issue of face value of ₹10 per Equity Share comprises of fresh issuance of equity shares worth Rs 4,272.00 Lakhs with no Offer for Sale (OFS) component.

Bondada Engineering is a leading provider of core design, engineering, and O&M services for infrastructure projects. Their expertise, backed by a team of 550+ professionals, is evident from their successful track record. They received accolades, such as the "Telecom Infrastructure Services Provider" by the Economic Times in 2021 and "Company of the Year" by the Global India Business Forum in 2023.
The Company offers a wide range of passive telecom infrastructure services, including turnkey solutions for cell site construction, telecom tower operation and maintenance, optical fiber cable laying, power equipment supply, and more. With over 11,600 telecom towers and poles installed, they have shown significant progress, completing 7,700 installations in the last three fiscal years.
Bondada Engineering clocked a profit of Rs 18.25 crore in the financial year FY23 against Rs 10.13 crore in the previous year. Revenue during the year FY23 increased significantly to Rs 370.59 crore from Rs 334.11 crore in the previous year, an increase of 9.84%, primarily due to increase in revenue from EPC services, due to increased projects executed for solar sector.

Vivro Financial Services Private Limited is the Lead Manager and KFin Technologies Limited is the Registrar to the Issue. The Equity Shares are proposed to be listed on the SME Platform of BSE Limited (BSE SME). 
DISCLAIMERS: BONDADA ENGINEERING LIMITED is proposing, subject to market conditions and other considerations, public offer of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Hyderabad, Telangana on August 8, 2023. The Prospectus is available on the website of the Lead Manager at www.vivro.net, the website of the BSE i.e., www.bsesme.com, and website of our Company at www.bondada.net.The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws in the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws in the United States. Accordingly, the Equity Shares are being offered and sold outside the United States in offshore transactions in compliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales occur. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Applications may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.
DISCLAIMER CLAUSE OF SEBI: Since the Issue is being made in terms of Chapter IX of the SEBI ICDR Regulations, 2018, the Draft Prospectus was not filed with SEBI and SEBI has not issued any observation on Offer Document. Hence, there is no such specific disclaimer clause of SEBI. However, investors may refer to the entire “Disclaimer Clause of SEBI” on page 210 of the Prospectus.

DISCLAIMER CLAUSE OF BSE (The Designated Stock Exchange): It is to be distinctly understood that the permission given by BSE Limited (“BSE”) should not in any way be deemed or construed that the contents of the Prospectus or the price at which the equity shares are offered has been cleared, solicited or approved by BSE, nor does it certify the correctness, accuracy or completeness of any of the contents of the Prospectus. The investors are advised to refer to "Disclaimer Clause of the SME Platform of BSE Limited" on page 211 of the Prospectus.

GENERAL RISKS: Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in this Issue unless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this issue. For taking an investment decision, investors must rely on their own examination of the Issuer and the Issue including the risks involved. The Equity Shares in the Issue have neither been recommended nor approved by SEBI nor does SEBI guarantee the accuracy or adequacy of the Prospectus. Specific attention of the investors is invited to the section titled “Risk Factors” beginning on page 21 of the Prospectus.

For further details in relation to the Company, Lead Manager, Company Secretary and Compliance Officer of the Company, availability of application forms and Prospectus, please refer to Prospectus dated August 8, 2023.

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