Bonfiglioli Transmissions has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through initial public offering (IPO). 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. Shares of the company are proposed to be listed on the BSE and the NSE.
Bonfiglioli Transmissions is a technology-driven provider of mechanical and electro-mechanical power transmission and industrial drive solutions.
