Bonfiglioli Transmissions has filed preliminary papers with capital markets regulator -- Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). The company is likely to raise over Rs 2,000 crore. The IPO is entirely an offer-for-sale (OFS) of 4.7 crore shares by promoter Bonfiglioli S.p.A with no fresh issue component.
Since the IPO is completely an OFS, the company will not receive any funds from the issue; all the proceeds from the issue will go to the selling shareholder. At present, the promoter holds a 100 per cent stake in the company.
Bonfiglioli Transmissions is a technology-driven provider of mechanical and electro-mechanical power transmission and industrial drive solutions.
