Bonfiglioli Transmissions initial public offering (IPO) opened for subscription on Thursday, October 15, giving investors a three-day bidding window until October 19. The issue is commanding a grey market premium (GMP) of 30%, indicating expectations of a potential listing gain in the unofficial market. However, grey market trends are unofficial and do not guarantee listing performance.
The Rs 2,533.66-crore IPO is entirely an offer for sale (OFS) of 4.32 crore shares. Since the issue does not include a fresh issue of shares, Bonfiglioli Transmissions will not receive any proceeds from the IPO. The entire amount raised will go to the selling shareholders.
