Belrise Industries IPO: Price band set at Rs 85-90; issue opens on May 21

Pune-based auto component manufacturer Belrise Industries has fixed the price band for its Rs 2,150 crore initial public offering (IPO) at Rs 85–90 per share. The IPO will open for subscription on May 21 and close on May 23, with anchor bidding scheduled for May 20.

Investors can bid for a minimum of 166 equity shares and in multiples thereafter.

This will be the third mainboard IPO of the current financial year, following Ather Energy and Borana Weaves.

The entire issue comprises a fresh offer of 23.89 crore equity shares, with no offer-for-sale (OFS) component. Of the total offer, 50% is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.

Belrise plans to utilise Rs 1,618.1 crore from the net proceeds to repay debt, with the remainder allocated for general corporate purposes. As of March 2025, the company had total consolidated borrowings of Rs 2,904.5 crore, including non-fund-based borrowings and accrued interest, according to its draft red herring prospectus (DRHP).

In the nine months ended December 2024, Belrise reported a 17.5% decline in profit to Rs 245.5 crore, while revenue rose marginally by 0.9% to Rs 6,013.4 crore compared to the same period the previous year.Belrise manufactures safety-critical systems and engineering solutions for two-wheelers, three-wheelers, passenger cars, commercial vehicles, and agricultural vehicles. Its clients include Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors, and Mahindra.Also Read: Markets don’t lie! Stock tickers in Shenzhen, Mumbai expose Pakistan’s claims of victory in 4-day aerial fight

Axis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets are the book-running lead managers, while Link Intime India is the registrar for the issue.

The allotment for the Belrise Industries IPO is expected to be finalized on May 26, 2025. The shares are proposed to be listed on the BSE and NSE, with a tentative listing date of May 28, 2025.

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