Bonfiglioli Transmissions India opened its initial public offering (IPO) today, with the issue receiving 15 percent subscription by 11:45 am on October 15, as per the NSE data.
In the grey market, the shares of the power transmission and industrial solutions provider were commanding a premium of around 31 percent in the grey market as of October 15, as per InvestorGain.
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However, grey market premiums are unofficial indicators based on speculative trading and do not guarantee listing gains.
The company, an Indian subsidiary of Italy-based Bonfiglioli S.p.A., has fixed the IPO price band at Rs 558–586 per share. At the upper end of the price band, the issue values the company at approximately Rs 11,016 crore.