The issue generated a demand of more than Rs 62,000 crore
MUMBAI, May 23 (The CONNECT)-The Initial Public Offering of Belrise Industries was subscribed 41.3 times on the third day of bidding.
The issue received bids of 7,31,22,94,024 shares against the offered 17,70,58,824 equity shares, at a price band of ₹85-90, according to the data available on the stock exchanges.
Non-Institutional investors and retail portions were subscribed 38.33 times and 4.26 times respectively, whereas Qualified Institutional Buyer segment was subscribed 108.35 times. Bids exceeding 25 lakh applications.
Analysts view the IPO success as a ceebration of the stockmarkets rebounding, beating the earlier nervousness over US bond crisis.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles.
Belrise holds a 24% market share in the two-wheeler metal components segment as of FY24 and has demonstrated healthy double-digit growth, supported by premiumisation and rising content per vehicle. Brokerages note the company’s focus on expanding into EVs and four-wheelers, and commend its track record in engineering excellence and manufacturing capabilities. The recent acquisition and strong product pipeline are seen as enablers of future growth.
Belrise Industries’ revenue from operations increased by 13.70% 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 sales of products and an increase in the prices of raw materials and components. Profit after tax for fiscal 2024 stood at Rs 310.88 crore. For the nine months ended December 31, 2024, revenue from operations stood at Rs 6,013.43 crore, and profit after tax stood at Rs 245.47 crore.
Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue.
