At a Glance
The Bhadora Industries IPO is a ₹55.62 crore book-building issue that opens on August 4, 2025 and closes on August 6, 2025. The price band is ₹97-₹103 per share, with a minimum retail application of ₹2.32 lakh (2,400 shares). That’s right – no small pocket change here! The company is tapping the NSE SME board, with shares set to list on August 11, 2025.
With PAT growth of 118% in FY25, a ROE of 51%, and promoters still holding 65.6% post-issue, this IPO looks lucrative. But remember, the cables market is as competitive as the local electricity bill disputes.
Introduction
Bhadora Industries – the name sounds like a local transformer shop, but don’t be fooled. This 1986-born Madhya Pradesh-based company manufactures industrial cables under the Vidhut Cables brand, supplying to state electricity boards and EPC contractors across 15+ states.
From PVC to XLPE cables, they have carved out a name in a crowded market where margins are thin and competition is fierce. Recent growth? Nothing short of electrifying – revenue jumped 33% YoY, while profits more than doubled.
Yet, with a valuation of 17.8x post-issue P/E, investors must ask: Is this IPO a current shock or a power surge?
Business Model (WTF Do They Even Do?)
- Core Activity: Manufacture of PVC, LV, LT Aerial Bunched, and XLPE cables.
- Clients: Government discoms, state electricity boards, EPC companies.
- USP: BIS, ISO-certified products with approvals in multiple state tenders.
- Growth Lever: Expansion of manufacturing facility + product diversification.
Think of Bhadora as the guy who ensures your city lights stay on,
