7 hours ago
Pune-based auto-component manufacturer Belrise Industries Ltd. has set a price band of ₹85-90 per share for its initial public offering (IPO), which opens on May 21. Investors can bid for a minimum of 166 equity shares in one lot and its multiples thereafter.
Anchor bidding will commence on May 20, and the ₹2,150 crore maiden public issue will close for bidding on May 23.
This would be the third IPO in the mainboard segment in this financial year, after Ather Energy and Borana Weaves.
Belrise Industries IPO comprises of entirely fresh issue of 23.89 crore equity shares worth ₹2,150 crore, with no offer-for-sale component.
The company has set aside 50% of the net offer for qualified institutional bidders, while non-institutional investors will get 15% of the allocation. Retail investors will get a reserve of 35% in the public offer.
The main objective of the IPO is to reduce debt burden. The company will utilise ₹1,618.1 crore out of net IPO proceeds for repayment of debt, and the remainder for general corporate purposes.
"As of March 2025, we had total borrowings of ₹2,904.5 crore million on a consolidated basis which includes non-fund based borrowings and accrued interest on borrowings," it said in its draft papers.
On the financial front, Belrise Industries' profit for nine months period ended December last year declined 17.5% to ₹245.5 crore as against the year-ago period. Revenue during the same period rose 0.9% to ₹6,013.4 crore.
Belrise Industries is an automotive component manufacturing company in India offering a diverse range of safety critical systems. It is a manufacturing company in India that offers a diverse range of safety-critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles.
The company's customers include Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors, and Mahindra.
Axis Capital, Hsbc Securities & Capital Markets, Jefferies India, SBI Capital Markets are the book running lead managers of the Belrise Industries IPO, while Link Intime India is the registrar.
The allotment for the Belrise Industries IPO is expected to be finalised on May 26, 2025. Belrise Industries IPO will be listing on BSE, NSE with a tentative listing date fixed as May 28, 2025.
