Belrise Industries files draft papers with SEBI to raise ₹2,150 crore via IPO

Belrise Industries Limited has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) on Tuesday, November 19. The company aims to raise ₹2,150 crore through a book-built initial public offering (IPO), which comprises a fresh issue of equity shares with a face value of ₹5 per share. 

The company plans to use the money raised from the public issue to fund its repayment or prepayment objectives, in full or in parts, of certain outstanding borrowings taken by Belrise Industries. The remaining amount will be used in general corporate purposes, according to the official filing.

According to the draft red herring prospectus (DRHP), the company plans to allocate not more than 50 per cent to the Qualified Institutional Buyers (QIBs) on a proportional basis; out of that, Belrise Industries may allocate 60 per cent of the QIB portion to the anchor investors. Not less than 15 per cent will be available for the Non-Institutional Investors (NIIs), and the remaining 35 per cent will be allocated to the retail investor segment. 

Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited, and SBI Capital Markets Limited are the book-running managers for the public issue, while Link Intime India Private Limited is the registrar for the offer.

About Belrise Industries

Belrise Industries Limited is an automotive original equipment manufacturer (OEM) parts maker based out of Pune, Maharashtra. Established in 1988, the company has a turnover of ₹7,484.2 crore, according to its official website. 

Belrise Industries specializes in making automotive systems for the two-wheeler, three-wheeler, and four-wheeler passenger and commercial vehicle segments. The company's product portfolio is diversified over metal processing, polymer processing, surface treatment, mirror systems, suspension systems, foundry, home appliances, security hardware, e-mobility and floriculture. 

The company also has more than 15 manufacturing facilities across seven states in India and employs more than 15,000 people. Belrise Industries also exports its parts to the United States, Japan, the United Kingdom, and China.