Belrise Industries IPO closes for public subscription today

Today is the last day to subscribe to the initial public offering of Belrise Industries. The IPO, which has been subscribed 2.9 times so far. It has received a strong response from high networth individuals.

The ₹2,150-crore IPO is entirely a fresh issue, with no offer-for-sale component. Against an offer size of about 17.71 crore shares, the IPO received bids for 51.09 crore shares.

The price band for the offer has been pegged at ₹85-90 per share, and investors can bid for a minimum of 166 equity shares.

The offer is being made through the book-building process, wherein not more than 50 per cent of the offer will be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15 per cent for allocation to non-institutional bidders, and up to 35 per cent of the offer to retail investors.

While the quota for non-institutional investors, generally referred to as HNIs, was subscribed 8.96 times, the retail portion elicited bids for 1.54 times, and the institutional quota 0.69 times.

Ahead of the IPO, Belrise Industries on Tuesday garnered ₹645 crore from anchor investors. The company informed the bourses that it had allocated 71,666,665 shares at ₹90 per share to anchor investors.

The investors who participated in the anchor book include foreign institutions such as BlackRock, Capital Group, M&G, and Pinebridge, and domestic institutions such as ICICI Prudential MF, HDFC MF, Nippon India MF, ValueQuest, and Bajaj Allianz Life.

The proceeds from the fresh issue, to the extent of ₹1,618.13 crore, will be used for repayment or prepayment, in full or in part, of certain borrowings availed by the company, and for general corporate purposes.

Belrise Industries Ltd (BIL) is an automotive component manufacturing company, offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles. Its product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components, and exhaust systems, among others. BIL’s products are largely agnostic to vehicle powertrain types, reflecting its ability to cater to both electric vehicles and internal combustion engine vehicles, thus positioning it favourably to adapt to the growing electric vehicle market.

The company specialises in precision sheet metal pressing and fabrication (i.e., the process of joining sheet metal components to create unified structures for assembling vehicle subsystems and bodies), and had a market share of 24 per cent in the overall two-wheeler metal components segment in India as of March 31, 2024, in terms of revenue (Source: CRISIL Report).

Belrise has a long-standing relationship with OEMs such as Bajaj Auto Ltd, Honda Motorcycle & Scooter India Private Limited, Hero MotoCorp Ltd, Jaguar Land Rover Ltd, and Royal Enfield Motors Ltd, among others.

Belrise Industries’ revenue from operations increased by 13.70 per cent to ₹7,484.24 crore for the financial year 2024, from ₹6,582.50 crore for the financial year 2023, primarily attributable to an increase in product sales and higher prices of raw materials and components. Profit after tax for FY24 stood at ₹310.88 crore.

For the nine months ended December 31, 2024, revenue from operations stood at ₹6,013.43 crore, and profit after tax stood at ₹245.47 crore.

Axis Capital Limited, Jefferies India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, and SBI Capital Markets Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar to the issue

Published on May 23, 2025