B.D. Industries IPO 2025: Date, GMP, Review, Price, Allotment Details
The B.D. Industries IPO, an SME IPO from Mumbai-based B.D. Industries (Pune) Limited, opens for subscription on July 30, 2025, and closes on August 1, 2025, aiming to raise ₹45.36 crores. Priced at ₹102–₹108 per share, this IPO targets investors interested in rotationally molded plastic products for automotive and industrial sectors. As of July 27, 2025, the grey market premium (GMP) ranges from ₹30–₹35, suggesting potential listing gains of 28–32%. This article provides a comprehensive overview of the B.D. Industries IPO, including key dates, price details, financial performance, review, and allotment process to guide investors.
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B.D. Industries IPO Details
The B.D. Industries IPO is a book-built SME issue comprising a fresh issue of 42 lakh equity shares (₹45.36 crores) with a face value of ₹10 per share. There is no offer for sale (OFS) component, as confirmed by the Red Herring Prospectus (RHP) filed on July 23, 2025. Below are the key details:
| Particulars | Details |
|---|---|
| IPO Open Date | July 30, 2025 |
| IPO Close Date | August 1, 2025 |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹102 to ₹108 per share |
| Issue Size | Approx. ₹45.36 crores (42 lakh shares) |
| Fresh Issue | Approx. ₹45.36 crores (42 lakh shares) |
| Offer for Sale | Nil |
| Lot Size | 1,200 shares |
| Issue Type | Book Built Issue |
| IPO Listing | BSE SME |
| Retail Quota | Not more than 35% |
| QIB Quota | Not more than 50% |
| NII Quota | Not more than 15% |
| DRHP Draft Prospectus | Click Here |
| RHP Draft Prospectus | Click Here |
| Anchor Investors List | Click Here |
| Book Running Lead Managers | Aryaman Financial Services Limited |
| Registrar | Cameo Corporate Services Limited |
| Market Maker | Aryaman Capital Markets Limited |
The IPO allocates 50% to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 35% to Retail Individual Investors (RIIs), with 2.10 lakh shares reserved for the market maker. The minimum investment for retail investors is ₹1,29,600 (1,200 shares at ₹108). The public issue constitutes 26.33% of the post-issue paid-up equity share capital, with the net issue (excluding market maker portion) at 25%. No anchor investor details are available as of July 27, 2025.
B.D. Industries IPO Market Lot
The B.D. Industries IPO minimum market lot is 1,200 shares with a ₹1,29,600 application amount at the upper price band. Retail investors can apply for up to 2 lots (2,400 shares, ₹2,59,200), while HNIs have higher minimums, per BSE SME bidding rules effective July 1, 2025. Note: The original document incorrectly listed 2,400 shares as the minimum lot; web sources confirm 1,200 shares.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 1,200 | ₹1,29,600 |
| Retail Maximum | 2 | 2,400 | ₹2,59,200 |
| S-HNI Minimum | 3 | 3,600 | ₹3,88,800 |
| B-HNI Minimum | 8 | 9,600 | ₹10,36,800 |
B.D. Industries IPO Dates
The key dates for the B.D. Industries IPO are as follows:
| Event | Date |
|---|---|
| IPO Open Date | July 30, 2025 |
| IPO Close Date | August 1, 2025 |
| Basis of Allotment | August 4, 2025 |
| Refunds | August 5, 2025 |
| Credit to Demat Account | August 5, 2025 |
| IPO Listing Date | August 6, 2025 |
Investors can track subscription status on BSE or the registrar’s portal (Cameo Corporate Services) during the subscription period. Bidding closes at 5:00 PM on August 1, with UPI mandate acceptance until 5:00 PM.
Promoters of B.D. Industries IPO
The promoters are Dalbirpal Saini, Arti Saini, Akshay Saini, and Rahul Saini.
About B.D. Industries IPO
Incorporated in 1984, B.D. Industries (Pune) Limited is a Mumbai-based manufacturer of rotationally molded plastic products, serving automotive, agricultural, marine, healthcare, and industrial sectors. The company produces plastic fuel tanks, urea tanks, fenders, hydraulic tanks, air ducts, battery boxes, mudguards, cabin roofs, and bus seats, supplying eight of India’s top 10 tractor makers. It operates three manufacturing facilities in Pune (Maharashtra), Dewas (Madhya Pradesh), and Hoshiarpur (Punjab), with a fourth under construction in Zaheerabad (Telangana). As of May 31, 2025, it employs 98 staff and is ISO 9001:2015 certified. Its products are lightweight, corrosion-resistant, and customizable, with 79% of FY25 revenue (₹79.03 crores) from automotive products and the rest from road safety, water management, and healthcare. The company has long-standing client relationships and a scalable business model but faces risks from customer concentration and raw material price volatility.
B.D. Industries IPO Company Financial Report
B.D. Industries’ financials show strong growth, driven by demand for molded plastic products. Below is a summary of its financial performance:
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | Profit After Tax (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 55.10 | 53.08 | 1.49 | 27.18 |
| 2024 | 55.33 | 50.92 | 3.18 | 31.96 |
| 2025 | 84.13 | 72.96 | 8.15 | 68.90 |
Revenue grew by 52% and PAT by 156% from FY24 to FY25, with a 15% revenue CAGR and 86% PAT CAGR from FY23–FY25. However, high inventory (₹29.63 crores, 4.3x monthly revenue) and trade receivables (₹21.81 crores) as of March 31, 2025, raise concerns about working capital management.
B.D. Industries IPO Valuation – FY2025
Key valuation metrics for B.D. Industries IPO based on FY25 financials are as follows:
| KPI | Values |
|---|---|
| ROE | 43.86% |
| ROCE | 43.50% |
| EBITDA Margin | 18.92% |
| PAT Margin | 9.23% |
| Debt to Equity Ratio | 1.30 |
| Earning Per Share (EPS) | ₹7.60 (Basic, Pre-Issue) |
| Price/Earning P/E Ratio | 14.21 (at ₹108) |
| Return on Net Worth (RoNW) | 35.97% |
| Net Asset Value (NAV) | ₹21.12 |
The P/E ratio is calculated using FY25 EPS, indicating a reasonable valuation compared to peers. Post-issue EPS is estimated at ₹5.65, yielding a P/E of 19.12.
Peer Group Comparison
Below is a comparison with listed peers in the molded plastics sector:
| Company | EPS | PE Ratio | RoNW % | NAV | Income (₹ Cr) |
|---|---|---|---|---|---|
| Nilkamal Limited | 71.32 | 25.04 | 7.18% | 997.48 | 3,312.76 |
| Time Technoplast Limited | 17.10 | 25.94 | 13.32% | 130.53 | 5,457.04 |
| Supreme Industries Limited | 75.64 | 58.07 | 16.98% | 445.61 | 10,446.25 |
B.D. Industries’ lower P/E ratio suggests undervaluation, though its smaller scale limits direct comparability.
Objects of the Issue
The net proceeds from the fresh issue will be used for:
- Repayment or prepayment of borrowings (₹18.40 crores).
- Purchase of machinery (₹5.40 crores).
- Funding working capital requirements (₹14.60 crores).
- General corporate purposes (balance amount).
B.D. Industries IPO Review
The B.D. Industries IPO, opening July 30, 2025, has generated buzz, with X posts noting its ₹45.36 crore issue and ₹102–₹108 price band. The ₹45.36 crore fresh issue targets debt reduction and capacity expansion in the molded plastics market, projected to grow at a 7% CAGR in India through 2030, driven by automotive and agricultural demand. FY25 financials show ₹84.13 crores revenue (52% growth) and ₹8.15 crores PAT (156% growth), with a 35.97% RoNW and 1.30 debt-to-equity ratio. The P/E ratio of 14.21 (at ₹108) is attractive compared to peers like Supreme Industries (P/E 58.07), with a market cap of ₹153 crores. The GMP of ₹30–₹35 suggests a listing price of ₹132–₹143 (28–32% gains), though subscription data is unavailable as of July 27, 2025. Strengths include supplying eight top tractor makers, ISO certification, and a scalable model. Risks include high inventory (₹29.63 crores), trade receivables (₹21.81 crores), customer concentration, and raw material price volatility. Brokerages like Hem Securities (“Subscribe”) and Chanakya (neutral) cite strong growth but flag working capital concerns.
Recommendation: Suitable for long-term investors with high risk tolerance, given robust financials, attractive valuation, and market tailwinds. Short-term investors should monitor GMP and subscription trends due to potential oversubscription. Consult a financial advisor before investing.
B.D. Industries IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: priya@cameoindia.com
Website: https://ipo.cameoindia.com/
IPO Lead Managers aka Merchant Bankers
- Aryaman Financial Services Limited
Company Address
B.D. Industries (Pune) Ltd.
15th Flr, 1501-B, Universal Majestic, PL Lokhande Marg,
G M Link Road, Nr RBK International School, Govandi West,
Mumbai, Maharashtra, 400043
Phone: 022-6249-0801
Email: cs@bdi-group.org
Website: https://www.bdi-group.org/
B.D. Industries IPO FAQs
What is B.D. Industries IPO?
B.D. Industries IPO is an SME IPO to raise ₹45.36 crores via a fresh issue of 42 lakh shares. The issue is priced at ₹102 to ₹108 per share and will list on BSE SME.
When will B.D. Industries IPO open for subscription?
The IPO opens on July 30, 2025, and closes on August 1, 2025.
What is B.D. Industries IPO Investors Portion?
The investors’ portion is 50% for QIB, 15% for NII, and 35% for Retail.
How to Apply for the B.D. Industries IPO?
Apply via ASBA online through your bank account or UPI through stock brokers like Zerodha or Upstox. Alternatively, fill an offline IPO form and submit it to your broker.
What is B.D. Industries IPO Issue Size?
The issue size is ₹45.36 crores, comprising a fresh issue of 42 lakh shares.
What is B.D. Industries IPO Price Band?
The price band is ₹102 to ₹108 per share.
What is B.D. Industries IPO Lot Size?
The minimum lot size is 1,200 shares, with a ₹1,29,600 application amount at the upper price band.
What is the B.D. Industries IPO Allotment Date?
The allotment date is August 4, 2025.
What is the B.D. Industries IPO Listing Date?
The listing date is August 6, 2025, on BSE SME.
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