The shares of Bondada Engineering were locked at 5% upper circuit on 11 January after the company announced the construction of an industrial park.

In its regulatory filing, the company said, “Bondada has laid the foundation stone for construction of “Bondada Industrial Park” at Rampally, Hyderabad, to cater global standard manufacturing facilities for its subsidiaries.”

The park has been constructed for the company’s subsidiaries, such as Bondada E&E Private Limited, which will manufacture LED lights; Atpole Technologies Private Limited, which will design and manufacture BLDC motors for electric vehicles; and SmartBrix Infra Technologies Private Limited, which will produce aluminium windows and UPVC profile extrusion plants, are housed in the industrial park that was constructed.

The company currently has orders worth Rs. 1245 crores and has an order book of Rs. 1695 crores. Moreover, the company had Rs. 235.5 crores are in its order book as of March 2023 for Telecom OFC EPC and O&M. The company entered the LED lights market through its wholly-owned subsidiary, and it has begun receiving orders.

Prior to this, the board of directors of the company had approved the purchase of 30,000 equity shares at a cost of Rs 10 each, which represented 60% of the paid-up equity share capital of Atpole the Technologies Pvt Ltd (ATPOLE).

By combining this acquisition with its current operations, the company hopes to quickly grow its market share in the BLDC motor business segment by providing services to manufacturers of all-electric vehicles.

At 3:30 pm, the shares of Bondada Engineering closed 5% higher at Rs 475.30 on NSE.