The investments will be crucial in propelling the company’s success, CMD Raghavendra Rao Bondada said.
MUMBAI, Aug 30 (The CONNECT) -Hyderabad based infrastructure player Bondada Engineering Limited has debuted on the exchanges at 90% premium.
The company's share price closed at Rs 149.62 per share on the BSE SME, a 99.49% premium.
As per BSE SME, the total quantity traded stood at 18.75 lakh shares and the turnover was Rs 27.50 crore.
The company provides engineering, procurement and construction (EPC) services and operations and maintenance (O&M) services the telecom and solar energy industry.
Raghavendra Rao Bondada, Chairman and Managing Director - Bondada Engineering Limited, expressed his gratitude to the investors for their unwavering support and trust reposed in the company. The investments will be crucial in propelling the company’s success, he remarked.
The Market Capitalization of the Company at today’s closing price stood at Rs. 323.21 Crore as per BSE SME.
Bondada Engineering is a leading provider of core design, engineering, and O&M services for infrastructure projects. Their expertise, backed by a team of 550+ professionals, is evident from their successful track record. They received accolades, such as the "Telecom Infrastructure Services Provider" by the Economic Times in 2021 and "Company of the Year" by the Global India Business Forum in 2023.
The Company offers a wide range of passive telecom infrastructure services, including turnkey solutions for cell site construction, telecom tower operation and maintenance, optical fiber cable laying, power equipment supply, and more. With over 11,600 telecom towers and poles installed, they have shown significant progress, completing 7,700 installations in the last three fiscal years.
Bondada Engineering clocked a profit of Rs 18.25 crore in the financial year FY23 against Rs 10.13 crore in the previous year. Revenue during the year FY23 increased significantly to Rs 370.59 crore from Rs 334.11 crore in the previous year, an increase of 9.84%, primarily due to increase in revenue from EPC services, due to increased projects executed for solar sector.
Vivro Financial Services Private Limited is the Lead Manager and KFin Technologies Limited is the Registrar to the Issue. The Equity Shares are proposed to be listed on the SME Platform of BSE Limited (BSE SME).