India’s robust economic landscape, characterised by rapidly expanding infrastructure and industrial sectors, consistently fuels a growing demand for high-quality, specialised components. This development trajectory underscores the critical role of manufacturing companies that provide essential solutions across various industries. As the nation continues its growth, opportunities arise for businesses to scale and innovate within this dynamic environment. Initial Public Offerings (IPOs) often serve as a key mechanism, allowing these companies to raise capital for further expansion and allowing investors to participate in the growth story of vital manufacturing segments.
About B.D. Industries (Pune) Ltd.
B.D. Industries (Pune) Ltd., established in 1984, is engaged in manufacturing rotationally molded plastic products for various industries. The company produces plastic fuel tanks, urea tanks, fenders, mudguards, cabin roofs, pallets, and other automotive components used in sectors such as automotive, pharma, e-commerce, and marine. It operates plants in Pune, Dewas, and Hoshiarpur, with a new facility coming up in Zaheerabad, Telangana. As of May 31, 2025, the company had 98 employees.
Key Strengths:
- Experienced management team
- Focus on quality assurance
- Long-term client relationships
- Established manufacturing setup
- Scalable business model
- Diverse, value-added product portfolio
B.D. Industries (Pune) Ltd. IPO Details
The B.D. Industries IPO is a book-building issue aimed at raising ₹45.36 crore. The issue will consist of fresh capital being raised through the issuance of 42,00,000 equity shares, priced between ₹102 and ₹108 per share. The company will use the funds raised for expanding its manufacturing capabilities, paying down debt, and working capital requirements.
Important IPO Timeline
| Event | Date |
| IPO Open Date | Wed, Jul 30, 2025 |
| IPO Close Date | Fri, Aug 1, 2025 |
| Tentative Allotment | Mon, Aug 4, 2025 |
| Initiation of Refunds | Tue, Aug 5, 2025 |
| Credit of Shares to Demat | Tue, Aug 5, 2025 |
| Tentative Listing Date | Wed, Aug 6, 2025 |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on Aug 1, 2025 |
Key IPO Details
| Event | Details |
| IPO Date | July 30, 2025 to August 1, 2025 |
| Listing Date | – |
| Face Value | ₹10 per share |
| Issue Price Band | ₹102 to ₹108 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 42,00,000 shares (aggregating up to ₹45.36 Cr) |
| Reserved for Market Maker | 2,16,000 shares (aggregating up to ₹2.33 Cr) |
| Market Maker | Aryaman Capital Markets Limited |
| Net Offered to Public | 39,84,000 shares (aggregating up to ₹43.03 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Shareholding (Pre-Issue) | 1,00,10,000 shares |
| Shareholding (Post-Issue) | 1,42,10,000 shares |
Lot Size of B.D. Industries (Pune) Ltd. IPO
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,400 | ₹2,59,200 |
| Individual investors (Retail) (Max) | 2 | 2,400 | ₹2,59,200 |
| S-HNI (Min) | 3 | 3,600 | ₹3,88,800 |
| S-HNI (Max) | 7 | 8,400 | ₹9,07,200 |
| B-HNI (Min) | 8 | 9,600 | ₹10,36,800 |
B.D. Industries (Pune) Ltd. Financials
B.D. Industries (Pune) Ltd. has shown promising financial performance. The company’s Revenue from Operations increased from ₹55.10 crore in Fiscal 2023 to ₹84.13 crore in Fiscal 2025. Concurrently, the Profit After Tax (PAT) has also seen growth, rising from ₹1.49 crore in Fiscal 2023 to ₹8.15 crore in Fiscal 2025.
Key Performance Indicators (as of Mar 31, 2025)
- ROE: 43.86%
- ROCE: 43.50%
- Debt/Equity: 1.05
- RoNW: 35.97%
- PAT Margin: 9.23%
- EBITDA Margin: 18.92%
- Price to Book Value: 6.42
Company Financial Snapshot
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets (₹ Cr) | 68.9 | 32 | 27.18 |
| Revenue (₹ Cr) | 84.13 | 55 | 55.10 |
| Profit After Tax
(₹ Cr) |
8.15 | 3 | 1.49 |
| EBITDA (₹ Cr) | 15.58 | 6 | 3.21 |
| Net Worth (₹ Cr) | 21.14 | 14 | 10.36 |
| Reserves and Surplus (₹ Cr) | 11.13 | 13.53 | 10.35 |
| Total Borrowing
(₹ Cr) |
22.19 | 5.06 | 2.21 |
B.D. Industries (Pune) Ltd.: Industry Outlook
The pipe and tube manufacturing sector in India is expected to witness steady growth, driven by several factors:
- Infrastructure Development: Ongoing and planned government investments in infrastructure projects like smart cities, housing, water supply, and irrigation are creating significant demand for pipes and tubes.
- Industrial Growth: Expansion across manufacturing, automotive, and other industrial sectors continues to fuel the need for various types of pipes for conveying fluids, gases, and structural applications.
- Urbanisation: Rapid urbanisation and increasing construction activities in both residential and commercial segments contribute to the demand for plumbing and structural pipes.
- Technological Advancements: Innovation in manufacturing processes and materials is leading to the production of more durable and efficient piping solutions.
Use of IPO Proceeds
The net proceeds from the fresh issue component of the B.D. Industries (Pune) Ltd. IPO are primarily intended for:
| S.No. | Objects of the Issue | Expected Amount(₹ in crores) |
| 1 | Repayment or Pre-payment of borrowings of the Company | 7 |
| 2 | Funding Working Capital Requirement of the Company | 7 |
| 3 | Repayment or Pre-payment of its borrowings | 12 |
| 4 | Purchase of Machinery | 5 |
| 5 | Funding Working Capital Requirement | 7 |
| 6 | General Corporate Purpose | — |
B.D. Industries (Pune) Ltd. IPO Peer Comparison
As an SME in the specialised pipe and tube manufacturing segment, direct listed peers are limited. However, companies like Nilkamal Ltd, Time Technoplast Ltd, and Supreme Industries Ltd offer a broader perspective within the industrial products sector. Direct comparisons with smaller ERW or GI pipe manufacturers are often constrained by limited public data.
Conclusion
The upcoming B.D. Industries (Pune) Ltd. IPO offers investors an opportunity to participate in a growing segment of India’s manufacturing sector. Specialising in pipes and tubes, the company is well-positioned to benefit from the country’s infrastructure development and industrial expansion. B.D. Industries have shown steady financial performance, and with the positive outlook for the sector, there is potential for continued growth. As with any investment, prospective investors should carefully review the company’s business model, financial health, and the competitive landscape within the SME manufacturing sector before making a decision. This IPO provides a chance to invest in a company that plays a key role in essential industrial supply chains. Stay updated on other SME IPOs for additional investment opportunities.
