Market Debut! Belrise Industries shares list at ₹100 on NSE, a premium of 11.11% from issue price

Belrise Industries IPO listing: Shares of Belrise Industries IPO made a strong debut on the bourses on Wednesday, May 28, as they listed at ₹100 on NSE, a premium of 11.11 percent over the issue price of ₹90. Meanwhile, on BSE, it debuted at ₹98.50, up 9.44 per cent from issue price.

The IPO, valued at ₹2,150 crore, was open for subscription from May 21 to May 23.

The IPO concluded on an strong note, receiving bids amounting to 43.14 times the shares on offer over the three-day bidding period. A total of 721.33 crore shares were bid for, compared to the 16.72 crore shares available. The retail investor portion was subscribed 4.52 times, while the non-institutional investor (NII) category saw a subscription of 40.58 times. Meanwhile, the Qualified institutional buyers (QIBs) portion was booked 112.63 times.

About the IPO

Belrise Industries IPO was a completely fresh issue comprising 23.89 shares, with no offer-for-sale component. The minimum application size was set at 166 shares, requiring a minimum investment of ₹14,110 from retail investors.

Belrise Industries plans to utilise the net proceeds from its upcoming IPO primarily for two purposes. A significant portion, amounting to approximately ₹1618 crore, is earmarked for the repayment or pre-payment, either in full or in part, of certain outstanding borrowings availed by the company. The remaining funds will be allocated towards general corporate purposes, supporting the company’s overall business operations and strategic initiatives.

Belrise Industries IPO allocated not less than 20 per cent of the public issue for Qualified Institutional Buyers (QIBs), while Non-Institutional Investors (NIIs) were allotted up to 15 per cent. The remaining 35 per cent of the offer was earmarked for retail individual investors.

Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, Jefferies India Private Limited, and SBI Capital Markets Limited are serving as the book running lead managers for the Belrise Industries IPO. The role of registrar for the issue has been assigned to MUFG Intime India Private Limited (Link Intime).

About the Company

Belrise Industries Limited, established in 1988, is an Indian automotive component manufacturer that specialises in producing a wide range of safety-critical systems and engineering solutions. The company caters to two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles.

Belrise’s comprehensive product portfolio includes automotive sheet metal and casting parts, polymer components, suspension systems, mirror assemblies, body-in-white components, chassis systems, and exhaust systems. The company plays a key role in supplying essential components to the passenger and commercial vehicle segments across India.

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