Bonfiglioli India, the wholly owned subsidiary of Italy’s Bonfiglioli Group, is planning an initial public offering (IPO) worth over ₹2,500 crore through a stake sale by its parent company, according to thehindubusinessline.com. The Indian arm contributes about 31% of the global group's EBITDA and 17.6% of its revenue, positioning it as a key profit center. The IPO could value the company at more than $1 billion.
The company has invested nearly ₹680 crore over 25 years to develop manufacturing facilities, engineering capabilities, and customer relationships in India, said Managing Director Kennady V Kaippally. Bonfiglioli India supplies specialized gearboxes and drive systems for wind turbines, construction equipment, and industrial machinery, serving global OEMs such as Volvo, Tata Hitachi, Schwing Stetter, Escorts Kubota, and Atlas Copco. Its revenue rose 10.5% to ₹1,864.08 crore in 2024, while profit from continuing operations increased 29.4% to ₹191.12 crore.
Bonfiglioli India’s growth highlights the expanding market for specialized industrial drives in sectors like construction and renewable energy. The company’s focus on niche products differentiates it from passenger-car gearbox manufacturers. Its strong financial performance, including a 20% rise in EBITDA to ₹293.06 crore, reflects robust demand and operational efficiency. The proposed IPO would mark a significant milestone, underscoring the Indian subsidiary’s increasing strategic importance within the global group.
The company reported revenue growth during the nine months ended September 2025, further strengthening its financial position ahead of the IPO. The planned offer-for-sale will provide investors access to a business that has become a major contributor to the Bonfiglioli Group’s global earnings, with a valuation exceeding $1 billion, thehindubusinessline.com reported.