Bhadora Industries Limited manufactures industrial cables designed for efficient electricity transmission and distribution, primarily serving government discoms, state electricity boards, and EPC (Engineering, Procurement, and Construction) companies across various industrial and infrastructure sectors in India. The company operates under its established brand name, “Vidhut Cables.”
The company’s product portfolio includes:
- Polyvinyl Chloride (PVC) cables
- Low Voltage (LV) cables
- LT Aerial Bunched (AB) Cables
- Cross-Linked Polyethylene (XLPE) cables
Their products cater to diverse applications in the power distribution network, ensuring safety, reliability, and efficiency.
The company’s manufacturing facility, located at Tikamgarh, Madhya Pradesh, covers an area of 15,028 square feet. This facility is:
✅ Accredited by the Bureau of Indian Standards (BIS)
✅ Certified under:
- BIS ISO 9001:2015 (Quality Management)
- ISO 14001:2015 (Environmental Management)
- ISO 45001:2018 (Occupational Health and Safety)
Bhadora Industries Limited markets and sells its products across several Indian states, including:
- Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Haryana, Himachal Pradesh, Jammu & Kashmir, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Telangana, Uttar Pradesh, and Uttarakhand.
As of June 30, 2025, the company employed 87 people across its production, quality, administration, sales, and support functions.
Bhadora Industries IPO – Details
| IPO Opening Date | 04 August 2025 |
| IPO Closing Date | 06 August 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 54,00,000 Shares Worth ₹49.72 Crore Fresh Issue: 54,00,000 Shares Worth ₹49.72 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹97 – ₹103 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | NSE SME |
| Registrar | MUFG Intime India Private Limited (Link Intime) |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Bhadora Industries IPO – Date Schedule
| IPO Open Date | 04 August 2025 |
| IPO Close Date | 06 August 2025 |
| Basis of Allotment | 07 August 2025 |
| Initiation of Refund | 08 August 2025 |
| Credit of Shares to Demat | 08 August 2025 |
| IPO Listing Date | 11 August 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 06, 2025 |
Bhadora Industries IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2,400 | ₹2,47,200 |
| Retail (Max) | 2 | 2,400 | ₹2,47,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,70,800 |
| S-HNI (Max) | 8 | 9,600 | ₹9,88,800 |
| B-HNI (Min) | 9 | 10,800 | ₹11,12,400 |
Competitive Strengths
- Visionary Leadership and Management.
- Approved Vendor in Government Schemes.
- Highest standards of quality across its products, processes, and materials.
- Sustainable Business Operations.
Company Promoters
- Shashank Bhadora
- Pradeep Bhadora
- Anil Bhadora
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹18.81 Cr | ₹18.58 Cr | ₹0.18 Cr | ₹10.13 Cr |
| 31 March 2024 | ₹83.27 Cr | ₹76.58 Cr | ₹4.95 Cr | ₹9.47 Cr |
| 31 March 2025 | ₹110.69 Cr | ₹96.22 Cr | ₹10.78 Cr | ₹19.67 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 51.51% |
| ROCE | 42.41% |
| Debt/Equity | 0.94 |
| RoNW | 51.51% |
| PAT Margin | 9.80% |
| EBITDA Margin | 15.42% |
| Price to Book Value | 6.49 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.17 | 5.80 |
| P/E (x) | 12.6 | 17.76 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Part finance the cost of establishing new manufacturing facility to expand our production capabilities of cables at Plot Nos. 188/1, Village Panwa Tehsil Kasrawad, District Khargone, Madhya Pradesh, India (“Proposed new facility”). | ₹22.32 |
| Funding working capital requirements of the Company. | ₹20.00 |
| General Corporate Purposes. |
✅Strengths
- Strong promoter experience and leadership.
- Approved vendor for major government electrification schemes (e.g., RECPDCL, RDSS).
- Quality certifications (ISO 9001, ISO 14001, ISO 45001) ensuring product reliability.
⚠️Risks
- High dependence on top customers and government tenders.
- Single manufacturing unit (Tikamgarh, MP) increases operational risk.
- Intense market competition and price pressure.
- No long-term contracts; revenue linked to new bids.
- Past blacklisting event could affect reputation.
Bhadora Industries IPO Promoter Holding
| Pre Issue Share Holding | 92.42% |
| Post Issue Share Holding | 65.59% |
Bhadora Industries IPO Prospectus
Company Contact Information
| Bhadora Industries Ltd. Office No. 505, Plot No 39.405 NRK BIZ PARK PU-4, Scheme N 54 DDU Nagar, Indore, Madhya Pradesh, 452010 Phone: +91-70000 61995 Email: cs@vidhutcables.com Website: https://www.vidhutcables.com/ |
Bhadora Industries IPO Registrar
| MUFG Intime India Private Limited (Link Intime) Phone: +91-22-4918 6270 Email: bhadora.ipo@linkintime.co.in Website: https://linkintime.co.in/Initial_Offer/public-issues.html |
Bhadora Industries IPO Lead Manager(s)
| 1. Unistone Capital Pvt Ltd |
Bhadora Industries IPO FAQ
| What is Bhadora Industries IPO? Bhadora Industries IPO is an SME IPO. The issue is priced at ₹97 to ₹103 per equity share. The IPO is to be listed on NSE SME. |
| When Bhadora Industries IPO will open? The IPO is to open on 04 August 2025 for QIB, NII, and Retail Investors. |
| What is Bhadora Industries IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Bhadora Industries IPO? You can apply Bhadora Industries IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Bhadora Industries IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Bhadora Industries IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Bhadora Industries IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Bhadora Industries IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Bhadora Industries IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Bhadora Industries IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Bhadora Industries IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Bhadora Industries IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is the Bhadora Industries IPO Size? Bhadora Industries IPO size is ₹55.62 Crore. |
| What is the Bhadora Industries IPO Price Band? Bhadora Industries IPO Price Band is ₹97 to ₹103. |
| What is Bhadora Industries IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 2400 Shares with ₹2,47,200 amount, while the maximum bid is 2400 Shares with ₹2,47,200. |
| What is the Bhadora Industries IPO Allotment Date? Bhadora Industries IPO allotment date is 07 August 2025. |
| What is the Bhadora Industries IPO Listing Date? Bhadora Industries IPO listing date is 11 August 2025. The IPO is to be listed on the NSE SME. |
