Belrise Industries Ltd. will launch its initial public offering on May 21 at a price band of Rs 85-90 per share.The IPO, which will be open till May 23, will raise Rs 2,150 crore via fresh issue of shares, as per the red herring prospectus. The company intends to use net proceeds from the issue towards repayment of outstanding borrowings, and for general corporate purposes.Notably, Belrise Industries filed the papers for its IPO with the capital markets regulator on Nov. 19, 2024. The company's promoters include Shrikant Shankar Badve, Supriya Shrikant Badve, and Sumesh Shrikant Badve.Axis Capital Ltd., HSBC Securities and Capital Markets (India) Pvt., Jefferies India Pvt., and SBI Capital Markets Ltd. are the book-running lead managers for the issue, whereas Link Intime India Pvt. is the registrar.Greaves Cotton's EV Unit Gets SEBI Nod For IPOAbout Belrise IndustriesBelrise Industries is an automotive component manufacturing company offering safety-critical systems and other engineering solutions for two-wheelers, three-wheelers, commercial vehicles and more. Their product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems, among others.The company reported revenue from operations of Rs 7,484.2 crore for fiscal 2024. Belrise's debt pile stands at Rs 2,167.2 crore as of Sept. 30, 2024.Meesho Parent Firm Fashnear Renamed To Align With Brand Ahead Of IPO