Upcoming IPO: Auto component maker Belrise Industries gets SEBI nod to raise ₹2,150 crore via public issue

Belrise Industries IPO: Belrise Industries Limited, on Tuesday, March 4, received the green light from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). The company submitted its preliminary draft papers on November 19, 2024. 

Belrise Industries Limited is an automotive original equipment manufacturer (OEM) component maker based in Pune, Maharashtra. The company was established in 1988 and has an annual turnover of ₹7,484.2 crore, according to its official website.

The company caters to making automotive systems for the two-wheeler, three-wheeler, and four-wheeler passenger and commercial vehicle segments.

Mint reported earlier that the company has over 15 manufacturing facilities across seven states in India and employs over 15,000 people. Belrise Industries also exports its manufactured parts to Austria, Slovakia, the United Kingdom, Japan and Thailand. 

Belrise Industries IPO Details

According to the company's draft papers, the auto component maker Belrise Industries is planning to raise ₹2,150 crore from the Indian stock market through an entirely fresh issuance of equity shares.

This initial public offer does not have an offer-for-sale (OFS) component.

The company plans to use the proceeds 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 for general corporate purposes, according to the official filing.

The auto parts maker plans to allocate not more than 50 per cent to the Qualified Institutional Buyers (QIBs); 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 investors, according to the DRHP data.

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

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