B. D. Industries (Pune) Ltd IPO

The IPO opens on 30 Jul 2025 & closes on 01 Aug 2025.

B. D. Industries (Pune) Limited was originally incorporated as 'B. D. Industries (Pune) Private Limited' on April 16, 2010 with the Registrar of Companies, Mumbai . Further, Company got converted into Public Limited Company and the name changed to 'B. D. Industries (Pune) Limited' and a Fresh Certificate of Incorporation upon conversion of Company to Public Limited dated December 24, 2024 was issued by Central Processing Centre. BDI started journey in 1984 with repairs and manufacturing of traction batteries. Then they started making plastic container boxes for same traction batteries using roto-moulding technology. Then around 1999, started R&D on plastic fuel tanks and further started supplies to Mahindra from early 2000s; purchased Toyo containers in Pune in 2006-2008 period. In 2010, Company acquired Toyo Container, a Partnership firm. The journey began with production of high-quality rotomolded battery boxes and water tanks. Since then, it engaged in manufacturing and trading of Plastic Products for varied industries. In the automotive sector, key products include Plastic fuel tanks for off-road vehicles, urea tanks, fenders, hydraulic tanks, air ducts, mudguards, and cabin roofs. Beyond automotive, the rotomolded plastic products serve diverse industries, including road & highway safety, material handling & storage, water management & disposal, marine, renewable energy, healthcare, and custom moulding. Currently, Company operate 3 well established manufacturing plants setup at Pune, Maharashtra; Dewas, Madhya Pradesh and Hoshiarpur, Punjab. Pune & Dewas plants are in operation for more than 10 years and Hoshiarpur plant is in operation for 2 years now. The Company acquired B.D. Industries (India) Private Limited. as a 100% Wholly Owned Subsidiary of the Company in 2024. The 4th Manufacturing unit has been established at Zaheerabad in 2025. Company came up with the initial public offer of 42,00,000 equity shares of face value of Rs 10 each by raising Rs 45.36 Cr through fresh issue in August, 2025.

B. D. Industries (Pune) Ltd IPO will close on 01 Aug 2025.

<ul><li>Experienced Management team.</li><li>Quality Assurance.</li><li>Long Standing Relations.</li><li>Well Established Manufacturing Set up.</li><li>Scalable Business Model.</li><li>Diversified Product mix with Strong focus on value added products.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Dalbirpal Saini</td> <td>5105100</td> <td>51</td> <td>5105100</td> <td>35.93</td> </tr> <tr> <td>2</td> <td>Arti Saini</td> <td>3103100</td> <td>31</td> <td>3103100</td> <td>21.84</td> </tr> <tr> <td>3</td> <td>Akshay Saini</td> <td>900880</td> <td>9</td> <td>900880</td> <td>6.34</td> </tr> <tr> <td>4</td> <td>Rahul Saini</td> <td>900890</td> <td>9</td> <td>900890</td> <td>6.34</td> </tr> <tr> <td>5</td> <td>Ridhima Saini</td> <td>10</td> <td>---</td> <td>10</td> <td>---</td> </tr> <tr> <td>6</td> <td>Mahesh Bhatia</td> <td>10</td> <td>---</td> <td>10</td> <td>---</td> </tr> <tr> <td>7</td> <td>Minal Vaswani</td> <td>10</td> <td>---</td> <td>10</td> <td>---</td> </tr> </tbody> </table>

<ul><li>The company is significantly dependent on few customers for its revenue in a particular financial year. The loss of any one or more of such customers may have a material effect on the company business operations and profitability.</li><li>The company is dependent on a few suppliers for supply of raw materials and any major disruption to the timely and adequate supplies of its raw materials could adversely affect the company business, results of operations and financial condition.</li><li>The company faces foreign exchange risks, primarily in our import and procurement operations that could adversely affect its results of operations.</li><li>The Company had negative cash flow in recent fiscals, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.</li><li>Majority of revenue contribution comes from the Maharashtra, Madhya Pradesh, Punjab, Haryana, Telangana, Karnataka and Tamilnadu which contributed 85.19%, 79.67% and 87.05% of our revenue from Operations in for Fiscal 2025, 2024 and 2023, respectively.</li><li>The company has not entered into any agreement with the suppliers of machinery as specified in the objects of the Issue. Further the amount allocated for purchases of machinery are based on the quotation received from supplier.</li><li>Its Dewas manufacturing facility (Madhya Pradesh) and Registered Office are not owned by it and the company has only leasehold rights. In the event the company lose or are unable to renew such leasehold rights, its business, results of operations, financial condition and cash flows may be adversely affected.</li><li>Its insurance coverage may not be sufficient or may not adequately protect it against any or all hazards, which may adversely affect the company business, results of operations and financial condition.</li><li>There have been past instances of procedural delays by the Company in filing of certain GST returns and making payments under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and Employee State Insurance Act, 1948 during Fiscals 2025, 2024 and 2023. Any future instances of such delays may result in levy of penalties on the Company from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.</li><li>The company has entered into, and will continue to enter into related party transactions. The company cannot assure you that its could not have achieved more favourable terms had such transactions not been entered into with related parties.</li><li>Its Promoters will continue to hold a significant equity stake in the Company after the Issue and their interests may differ from those of the other shareholders.</li><li>Association of one of its directors with a previously Struck-off Company may adversely impact the Company in the event of future litigation or penalties.</li><li>Employee misconduct, errors or fraud could expose us to business risks or losses that could adversely affect its business prospects, results of operations and financial condition.</li><li>The Company, its Wholly Owned Subsidiary Company and its Promoters are involved in certain legal proceedings which, if determined against it, could adversely affect the company business and financial condition.</li><li>Ther Company does not have long term agreement with suppliers for supply of raw material. Its inability to obtain raw material in a timely manner, in sufficient quantities could adversely affect the company operations, financial condition and/or profitability.</li><li>The Company has availed certain unsecured loans of Rs. 829.96 lakhs which are recallable in nature. Any demand from the lenders for repayment of such unsecured loan may affect its cash flow and financial condition.</li><li>Its Promoters have provided personal guarantees for loan facilities obtained by the Company, and any failures or default by the Company to repay such loans in accordance with the terms and conditions of the financing documents could trigger repayment obligations on them, which may impact their ability to effectively service their obligations and thereby, impact its business and operations.</li><li>Any failures to protect or enforce its rights to own or use trademarks and brand names and identities could have an adverse effect on the company business and competitive position.</li><li>Its operations are subject to high working capital requirements. The company inability to maintain sufficient cash flow, credit facilities and other sources of funding, in a timely manner, or at all, to meet requirement of working capital or pay out debts, could adversely affect its operations.</li><li>Its working capital object is based on certain assumptions, any deviation from assumptions could affect the company financial position.</li><li>Failures in supply of electricity or power can lead to significant disruption in manufacturing process and can affect its operations.</li><li>Any non-availability of technical, skilled, semi-skilled and un-skilled manpower and / or increased employee costs could negatively affect its ability to operate efficiently and result in disruptions to the company manufacturing operations.</li><li>Its lenders have charge over the company movable and immovable properties in respect of finance availed by it. The company inability to meet its obligations under the company debt financing arrangements could adversely affect its business, results of operations and cash flows.</li><li>Industrial accidents at its manufacturing facility may adversely affect the company operation.</li><li>If the company is unable to maintain the existing level of capacity utilisation rate at its manufacturing facilities, the company margins and profitability may be adversely affected.</li><li>Our financing agreements contain covenants that limit our flexibility in operating our business. Our inability to meet our obligations, including financial and other covenants under our debt financing arrangements could adversely affect our business, results of operations and financial condition.</li><li>Any future issuance of Equity Shares may dilute your shareholding and sale of Equity Shares by the Promoter may adversely affect the trading price of the Equity Shares.</li><li>Failure to manage our inventory could have an adverse effect on our net sales, profitability, cash flow and liquidity.</li><li>We may face labour disruptions that could interfere with our operations.</li><li>The deployment of the Net Proceeds from the Fresh Issue are based on management estimates and have not been independently appraised by any bank or financial institution and is not subject to any monitoring by any independent agency and our Company's management will have flexibility in utilizing the Net Proceeds from the Fresh Issue.</li><li>Any delay or defaults in receipt of payments or dues from our customers could result in a reduction of our profits.</li><li>In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects/ schedule of implementation of this Issue which would in turn affect our revenues and results of operations.</li><li>There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE in a timely manner, or at all.</li><li>Pursuant to listing of the Equity Shares, we may be subject to pre-emptive surveillance measures like Additional Surveillance Measure ("ASM") and Graded Surveillance Measures ("GSM") by the Stock Exchanges in order to enhance market integrity and safeguard the interest of investors.</li><li>We are dependent on our key management team as well as our mid-to-senior personnel and we heavily rely on their knowledge and experience in operating our business. The loss of or our inability to attract or retain such persons could materially adversely affect our business performance.</li><li>In addition to their regular remuneration, our directors (including our Promoters) and Key Management Personnel are entitled to other benefits and expense reimbursements. They also have a vested interest in our Company through their shareholding and dividend entitlements.</li><li>We generally do business with our customers on purchase order basis and do not enter into long term contracts with most of them.</li><li>Our continued operations are critical to our business and any shutdown of our manufacturing unit may adversely affect our business, results of operations and financial condition.</li><li>Our Company's failure to maintain the quality standards of the products or keep pace with the technological developments could adversely impact our business, results of operations and financial condition.</li><li>We depend on third parties for our suppliers, logistics and transportation needs. Any disruptions in the same may adversely affect our operations, business, cash flows and financial condition.</li><li>If we are not able to obtain, renew or maintain our statutory and regulatory licenses, registrations and approvals required to operate our business, it may have a material adverse effect on our business, results of operations and financial condition.</li><li>We may be unable to comply with changes in environmental, health and safety, labour laws and other applicable regulations.</li><li>We could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect our financial condition, results of operations and reputation.</li><li>We have not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available on the internet and such data has not been independently verified by us.</li><li>Our ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in our financing arrangements.</li><li>Any future issuance of Equity Shares may dilute your shareholding and sale of our Equity Shares by our Promoter or other major shareholders may adversely affect the trading price of the Equity Shares.</li><li>The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.</li><li>Foreign investors are subject to foreign investment restrictions under Indian law that limits our ability to attract foreign investors, which may adversely impact the market price of the Equity Shares.</li><li>Investors can be subject to Indian taxes arising out of capital gains on the sale of the Equity Shares.</li><li>The ability of Indian companies to raise foreign capital may be constrained by Indian law.</li><li>Risks Relating to Unsecured Loans from Directors (Related Parties)</li><li>Its wholly owned subsidiary Company is into similar line of business which can affect the company because of the Potential Conflict of Interest.</li><li>Its financing agreements contain covenants that limit the company flexibility in operating its business. The company inability to meet its obligations, including financial and other covenants under the company debt financing arrangements could adversely affect its business, results of operations and financial condition.</li><li>Failures to manage its inventory could have an adverse effect on the company net sales, profitability, cash flow and liquidity</li><li>Its may faces labour disruptions that could interfere with the company operations.</li><li>The deployment of the Net Proceeds from the Fresh Issue are based on management estimates and have not been independently appraised by any bank or financial institution and is not subject to any monitoring by any independent agency and the Company's management will have flexibility in utilizing the Net Proceeds from the Fresh Issue.</li><li>Any delay or defaults in receipt of payments or dues from its customers could result in a reduction of the company profits.</li><li>In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects/ schedule of implementation of this Issue which would in turn affect its revenues and results of operations.</li><li>There is no guarantee that the Equity Shares issued pursuant to the Issue will be listed on the SME Platform of BSE in a timely manner, or at all.</li><li>Pursuant to listing of the Equity Shares, its may be subject to pre-emptive surveillance measures like Additional Surveillance Measure ("ASM") and Graded Surveillance Measures ("GSM") by the Stock Exchanges in order to enhance market integrity and safeguard the interest of investors.</li><li>The company is dependent on its key management team as well as the company mid-to-senior personnel and we heavily relies on their knowledge and experience in operating its business. The loss of or the company inability to attract or retain such persons could materially adversely affect its business performance.</li><li>In addition to their regular remuneration, its directors (including the company Promoters) and Key Management Personnel are entitled to other benefits and expense reimbursements. They also have a vested interest in the Company through their shareholding and dividend entitlements.</li><li>The company generally do business with its customers on purchase order basis and does not enter into long term contracts with most of them.</li><li>Its continued operations are critical to the company business and any shutdown of its manufacturing unit may adversely affect the company business, results of operations and financial condition.</li><li>The Company's failure to maintain the quality standards of the products or keep pace with the technological developments could adversely impact its business, results of operations and financial condition.</li><li>The company depends on third parties for its suppliers, logistics and transportation needs. Any disruptions in the same may adversely affect its operations, business, cash flows and financial condition.</li><li>If the company is not able to obtain, renew or maintain its statutory and regulatory licenses, registrations and approvals required to operate its business, it may have a material adverse effect on the company business, results of operations and financial condition.</li><li>Its may be unable to comply with changes in environmental, health and safety, labour laws and other applicable regulations.</li><li>The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.</li><li>The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available on the internet and such data has not been independently verified by it.</li><li>Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.</li><li>Any future issuance of Equity Shares may dilute your shareholding and sale of its Equity Shares by the company Promoter or other major shareholders may adversely affect the trading price of the Equity Shares.</li><li>The Equity Shares have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.</li><li>Foreign investors are subject to foreign investment restrictions under Indian law that limits our ability to attract foreign investors, which may adversely impact the market price of the Equity Shares.</li><li>Investors can be subject to Indian taxes arising out of capital gains on the sale of the Equity Shares.</li><li>The ability of Indian companies to raise foreign capital may be constrained by Indian law.</li></ul>

The Issue type of B. D. Industries (Pune) Ltd is Book Building - SME.

The minimum application for shares of B. D. Industries (Pune) Ltd is 2400.

The total shares issue of B. D. Industries (Pune) Ltd is 4200000.

Initial public offer of upto 42,00,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of B. D. Industries (Pune) Limited ("the Company" or "the Issuer") at an issue price of Rs. 108 per equity share (Including a Share Premium of Rs.98 per Equity Share) for cash, aggregating upto Rs. 45.36 crores "Ppublic Issue") out of which 2,16,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108 per equity share for cash, aggregating Rs. 2.33 crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. issue of 39,84,000 equity shares of face value of Rs. 10/- each, at an issue price of Rs. 108 per equity share for cash, aggregating upto Rs. 43.03 crores is hereinafter referred to as the "Net Issue". The public issue and net issue will constitute 29.56 % and 28.04 % respectively of the post-issue paid-up equity share capital of the company.