Belrise Industries IPO GMP At 15.56% On Day 1 — Check Key Details
The Belrise Industries IPO subscription window is open from May 21 to May 23.
The initial public offering of Belrise Industries Ltd. is set to open for subscription on Wednesday. Ahead of the launch, the mainboard issue has caught the attention of the investors over its grey market premium (GMP).
The Pune-based company is a key player in the automotive components sector. It manufactures mirrors, suspension parts and various polymer-based components.
The automotive sheet metal manufacturer aims to raise Rs 2,150 crore from the primary market. The book-built issue consists solely of a fresh issuance of 23.89 crore equity shares.
The price band for Belrise Industries IPO has been set between Rs 85 and Rs 90 per share.
To participate, retail investors will need to apply for at least 166 shares, amounting to Rs 14,940. On the other hand, small Non-Institutional Investors (sNII) can apply for at least 14 lots of 2,324 shares (Rs 2,09,160), while big NIIs need to bid for at least 67 lots, or 11,122 shares (Rs 10,00,980).
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. MUFG Intime India Private Ltd. (formerly Link Intime India Pvt.) is the registrar for the issue.
Belrise Industries IPO GMP Today
Ahead of the launch of the IPO, Belrise Industries’ unlisted shares were trading at a premium in the grey market on Wednesday. According to Investorgain, Belrise Industries IPO latest GMP stood at Rs 14 per share at 12:33 p.m. The latest GMP indicates an estimated listing price of Rs 104 per share. The latest GMP reflects a listing gain of 15.56%.
Note: GMP does not represent official data and is based on speculation.
Belrise Industries IPO Listing Date
The IPO subscription window will close on May 23. The company is expected to finalise the IPO share allotment status on May 26. Successful bidders will receive shares in their Demat accounts by May 27, and refunds for non-allottees will also be processed on the same day.
The tentative listing date for the Shares of Belrise Industries has been fixed as May 28. Shares of Belrise Industries Ltd. will be listed on both the BSE and NSE.
Belrise Industries: Business And Financials
Belrise Industries makes automotive parts for passenger and commercial vehicles. The company is a leading player in the sector, with a 24% market share. The company achieved a 17.76% CAGR in revenue growth from FY22 to FY24.
The company’s revenue increased to Rs 7,555.67 crore in FY24 compared to Rs 6,620.78 crore in FY23. Belrise Industries reported a net profit of Rs 352.70 crore in FY24, marking a marginal drop compared to Rs 356.7 crore in FY23.
Use Of Proceeds
The company plans to use Rs 1,618 crore from the IPO proceeds to repay borrowings. The remaining Rs 532 crore will be allocated for general corporate purposes.
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.
