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The IPO was undertaken entirely through an offer for sale by Bonfiglioli S.p.A., the company’s promoter. The offering witnessed strong investor demand, with the issue subscribed over 46 times overall and the qualified institutional buyer (QIB) portion was subscribed over 120 times.
The IPO was undertaken through an offer for sale by certain existing shareholders of the company, including its promoters, promoter group, institutional investors and other individual shareholders.
The Draft Red Herring Prospectus (DRHP) for the proposed IPO has been filed with the Securities and Exchange Board of India (SEBI). Valmiki Leela Capital acted as the Book Running Lead Manager for the transaction.