Belrise Industries Limited is a Tier-1 Automotive OEM Manufacturing Group based in India with a strong presence across the two-wheeler, three-wheeler, and four-wheeler passenger and commercial vehicle segments. The company reported a turnover of ₹7484.2 crore, showcasing its significant scale and influence in the automotive systems and component manufacturing sector.

Company Overview

Belrise Industries offers an extensive product portfolio that spans across multiple verticals:

• Metal Processing

• Polymer Processing

• Surface Treatment

• Mirror Systems

• Suspension Systems

• Foundry

• Home Appliances

• Security Hardware

• E-mobility Solutions

• Floriculture Products

This diversified product base reduces business risk and provides flexibility to tap into growing market segments, especially in the electric mobility and automotive innovation space.

IPO Details

• Issue Size: ₹2150 crore

• Type of Issue: 100 percent Fresh Issue of 2388.88 lakh equity shares

• Price Band: ₹85 to ₹90 per share

• Lot Size: 166 shares

• Retail Minimum Investment: ₹14940

• HNI Minimum Investment: 14 lots (2324 shares) worth ₹209160

• IPO Opens: May 21 2025

• IPO Closes: May 23 2025

• Allotment Date: May 26 2025 (Tentative)

• Listing Date: May 28 2025 (Tentative)

• Listing Exchanges: NSE and BSE

Lead Managers and Registrar

The IPO is managed by some of the most reputed firms in the industry:

• Axis Capital Limited

• HSBC Securities and Capital Markets

• Jefferies India Private Limited

• SBI Capital Markets Limited

The registrar of the issue is MUFG Intime India Private Limited.

Grey Market Premium

As of today the Grey Market Premium (GMP) for the Belrise Industries IPO is ₹9 indicating a potential listing gain of around 11.11 percent. Investors are advised that the GMP is unofficial and speculative based solely on demand and supply in the unorganised grey market.

Financial Performance

Belrise has demonstrated strong and consistent growth across major financial parameters:

• Revenue from Operations:

  • FY22: ₹5410.68 crore

  • FY23: ₹6620.78 crore

  • FY24: ₹7555.67 crore

  • 9M FY25: ₹6064.76 crore

• EBITDA:

  • FY22: ₹768.57 crore

  • FY23: ₹913.78 crore

  • FY24: ₹983.63 crore

  • 9M FY25: ₹796.75 crore

• Profit After Tax (PAT):

  • FY22: ₹261.84 crore

  • FY23: ₹313.66 crore

  • FY24: ₹310.87 crore

  • 9M FY25: ₹245.46 crore

These figures reflect stable operations high margins and healthy cash flows.

Valuation and Ratios

• Pre-issue EPS FY24: ₹4.82

• Post-issue EPS FY24: ₹3.33

• Annualised EPS: ₹5.36

• Pre-issue P E Ratio: 18.67x

• Post-issue P E Ratio: 27.06x

• Annualised P E Ratio: 16.79x

• Industry P E Ratio: 50x

• ROCE FY24: 14.83 percent

• ROE FY24: 14.18 percent

• RoNW FY24: 13.33 percent

Compared to industry standards the IPO valuation is reasonable and the returns on capital and equity are aligned with the long-term growth trend of the sector.

Leadership and Vision

The company is spearheaded by Shrikant Shankar Badve Managing Director who has over 28 years of experience in the automotive industry. He has been recognised by various national platforms including honours from the former Honble Prime Minister of India for his contributions to Indian industry and manufacturing excellence.

Market Capitalisation and Outlook

At the upper price band of ₹90 the market capitalisation of Belrise Industries Limited will be ₹8008.91 crore. The company’s scale combined with its leadership and diverse offerings make it a strong contender in the auto component sector.

Conclusion and Recommendation

Belrise Industries IPO offers investors a well-diversified manufacturing story backed by consistent growth competitive pricing and strong sectoral tailwinds. With a GMP of ₹9 pointing to potential listing gains of over 11 percent this issue is attractively positioned for listing-day gains.

Recommendation: Risk-taking investors may apply for listing gai

The Upcoming IPOs in this week and coming weeks are Scoda Tubes,Neptune Petrochemicals, Aegis Vopak Terminals, Schloss Bangalore, Astonea Labs, Nikita Papers, Prostarm Info Systems, Victory Electric Vehicles International, Blue Water Logistics, Wagons Learning.

The Current active IPO are Unified Data - Tech Solutions, Dar Credit and Capital, Belrise Industries.

The Closed IPOs are Borana Weaves.