Belrise Industries Debuts At 11% Premium Over Issue Price On Dalal Street
Belrise Industries' IPO, which closed on May 23, was subscribed 41.3 times.
Shares of Belrise Industries Ltd. debuted on the National Stock Exchange at Rs 100 apiece, a premium of 11.11% over the issue price of Rs 90. Share price on BSE debuted at Rs 98.50, a premium of 9.44%.
"While institutional investor response was muted at 0.73 times in the QIB segment, the fully subscribed Rs 645-crore anchor book added credibility," said Gaurav Garg from Lemonn Markets Desk. The strong GMP and broad-based investor participation underscore positive market confidence in Belrise's future, he said.
Belrise Industries' IPO, which closed on May 23, was subscribed 41.3 times. Bids were led by institutional investors (108 times), retail investors (4.27 times), non-institutional investors (38.33 times). The offer consisted of an issue of fresh shares worth Rs 2,150 crore.
The company aims to utilise Rs 1,618.1 crore from the offer towards repayment of borrowings and the remaining towards general corporate purposes.
Axis Capital Ltd., HSBC Securities and Capital Markets (India) Pvt., Jefferies India Pvt., and SBI Capital Markets Ltd. were the book-running lead managers for the issue, whereas Link Intime India Pvt. was the registrar.
Business
Belrise Industries is an automotive component manufacturer offering a range of safety-critical systems and engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agricultural vehicles.
Its product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems. The company's products are largely agnostic to vehicle powertrain types, enabling it to serve both electric vehicles and internal combustion engine vehicles.
For the financial year 2024, the company reported revenue from operations of Rs 7,484.2 crore. As of March 31, 2025, the company's debt pile stood at Rs 255.8 crore.
