Bonfiglioli Transmissions, a leading manufacturer of gearboxes and industrial drive systems and the Indian subsidiary of Italy-based Bonfiglioli S.p.A, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking its first step towards a public listing.
According to regulatory filings, the proposed initial public offering (IPO) will comprise entirely an offer-for-sale (OFS) of approximately 4.69 crore equity shares by the promoter, Bonfiglioli S.p.A. The issue will not include any fresh share issuance, which means the company will not receive any funds from the public offering. All proceeds will go to the selling shareholder.
Industry estimates suggest that the IPO could be valued at over ₹2,000 crore, reflecting strong investor interest in established industrial and engineering companies entering the capital markets.
Bonfiglioli Transmissions is a prominent supplier of precision-engineered mechanical and electro-mechanical power transmission systems. Its product portfolio includes gearboxes, drive systems, and related components used in industrial automation, material handling, renewable energy, construction equipment, and off-highway vehicles.
The company has built a strong presence in India by catering to both domestic and international clients, supported by advanced manufacturing facilities and technical expertise.
In recent financial results, Bonfiglioli Transmissions reported a profit of ₹165.1 crore on revenues of ₹1,460.1 crore for the first half of FY26, indicating stable growth and operational strength ahead of its proposed market debut.
The company continues to benefit from increasing demand from sectors such as manufacturing, infrastructure, automation, and clean energy.
The proposed listing is expected to enhance the company’s visibility in Indian capital markets and provide liquidity to its promoter. The move also reflects the growing trend of multinational subsidiaries opting for domestic listings to strengthen their local market presence.
While the IPO does not include a fresh capital-raising component, analysts believe that public listing could improve corporate governance standards and support future expansion initiatives.
Following the submission of the DRHP, SEBI will review the filing and may seek clarifications before granting approval. Upon receiving regulatory clearance, the company will announce the issue size, price band, and subscription timeline.
Market participants are closely monitoring the development, as Bonfiglioli’s listing is expected to be among the notable industrial IPOs in the coming months.
