What Does Belrise Industries IPO GMP Indicate Ahead Of Its Opening On May 21
The latest grey market premium (GMP) for the Belrise Industries IPO stood at Rs 13 on May 20. Unlisted shares of Belrise Industries were trading at Rs 103 in the grey market.
Belrise Industries Ltd. is scheduled to launch its initial public offering (IPO) this week. The mainboard issue, aimed at raising Rs 2,150 crore, will open for subscription on May 21.
The company manufactures automotive components such as mirrors, suspension and polymer components. Those who want to bid for shares in this IPO can check the following details before investing.
Belrise Industries IPO: Key Details
Belrise Industries IPO is a book-building issue worth Rs 2,150 crore, comprising entirely a fresh issue of 23.89 crore shares.
The price band for the IPO has been set between Rs 85 to Rs 90 per share.
Retail investors can apply for a minimum lot size of 166 shares, requiring an investment of Rs 14,940. Small Non-Institutional Investors (sNII) can bid with a minimum lot size of 2,324 shares, amounting to an investment of Rs 2,09,160. Big Non-Institutional Investors (bNII) can invest with a minimum lot size of 11,122 shares, which is equivalent to Rs 10,00,980.
The Belrise Industries IPO will be open for subscription from May 21 to May 23. The allotment of shares is proposed to be finalised on May 26. Shares will be credited to the Demat accounts of successful bidders on May 27 and refunds for non-allottees will be done on the same day.
Shares of Belrise Industries are proposed to be listed on the BSE and NSE on May 28.
At least 35% of the issue is reserved for retail investors. The Qualified Institutional Buyers (QIBs) will get a maximum of 50% of the issue. NIIs are entitled to a minimum of 15% of the issue.
Axis Capital Ltd., HSBC Securities and Capital Markets Pvt., Jefferies India Pvt. and SBI Capital Markets Ltd. are the book running lead managers of the IPO. Link Intime India Pvt. is the registrar for the issue.
Belrise Industries IPO GMP Today
As per Investorgain, the latest grey market premium (GMP) for the Belrise Industries IPO stood at Rs 13 at 12:55 p.m. on May 20. It indicates a listing price of Rs 103 per share at a premium of 14.4%. A day earlier, the grey market premium (GMP) was Rs 4.25 on May 19 indicating a listing price of Rs 94.25 per share at a premium of 4.72%.
Note: GMP does not represent official data and is based on speculation.
Belrise Industries Business And Financials
Belrise Industries manufactures automotive products for two-wheelers, three-wheelers and four-wheeler passenger and commercial vehicles. Its portfolio includes metal processing, polymer processing and mirror systems. The company was established in 1988.
Use Of Proceeds
The company has proposed to use the proceeds from the IPO for general corporate purposes and paying off debts.
Financials
The company reported a 0.89% year-on-year decline in profit after tax (PAT) to Rs 310.9 crore in FY24 from Rs 313.7 crore in FY23. Revenue from operations rose 13.7% YoY to Rs 7,484.24 crore in FY24 from Rs 6,582.5 crore in FY23. For the nine-month period ending Dec. 31, 2024, its PAT stood at Rs 245.5 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
