Belrise Industries Limited is a prominent Tier-1 Automotive Original Equipment Manufacturer (OEM) in India, boasting a robust turnover of INR 7,484.2 Crores. The company has carved a niche by specializing in automotive systems catering to two-wheelers, three-wheelers, and four-wheelers, encompassing both passenger and commercial vehicle segments. Their diversified product portfolio extends beyond automotive systems, covering metal processing, polymer processing, surface treatment, mirror systems, suspension systems, foundry operations, home appliances, security hardware, e-mobility solutions, and floriculture. This diversification positions Belrise Industries as a key player in multiple related industries.

IPO Details & Subscription Timeline

Belrise Industries is launching a Book Built Issue (BBI) IPO with a total issue size of ₹2,150.00 Crores, entirely comprising a fresh issue of 2,388.88 lakh shares. The IPO opens for subscription on May 21, 2025, and closes on May 23, 2025. The allotment process is expected to be completed by May 26, 2025, with shares slated to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) around May 28, 2025.

The price band is fixed between ₹85 and ₹90 per equity share. At the upper band price of ₹90, the company’s market capitalization at the time of IPO will be approximately ₹8,008.91 Crores. Investors can apply in multiples of a lot size of 166 shares, making the minimum retail investment about ₹14,940. High Net Worth Individuals (HNIs) must apply for a minimum of 14 lots (2,324 shares), amounting to ₹2,09,160.

Anchor Investors & Lead Managers

Belrise Industries successfully raised ₹644.99 Crores from anchor investors who were allotted 7,16,66,665 equity shares at ₹90 each. The IPO is managed by a consortium of leading financial institutions, including Axis Capital Limited, HSBC Securities and Capital Markets, Jefferies India Private Limited, and SBI Capital Markets Limited. The registrar for the issue is MUFG Intime India Private Limited.

Financial Performance Snapshot

Belrise Industries has demonstrated steady financial growth over recent years, reflecting strong operational performance:

The pre-issue Earnings Per Share (EPS) stands at ₹4.82, while the post-issue EPS is estimated at ₹3.33 for FY24. The Price-to-Earnings (P/E) ratio pre-issue is 18.67x, increasing post-issue to 27.06x, which remains favorable compared to the industry P/E of 50x. Return on Capital Employed (ROCE) is 14.83%, Return on Equity (ROE) is 14.18%, and Return on Net Worth (RoNW) is 13.33%. These indicators suggest the IPO is priced fairly and represents an attractive investment opportunity in the automotive sector.

Grey Market Premium (GMP) and Listing Gains

The Grey Market Premium (GMP) for Belrise Industries IPO is currently around ₹9, indicating expected listing gains of approximately 11.11% on the upper price band of ₹90. While GMP provides a market sentiment indicator, investors should be cautious as GMP trading is unofficial and unregulated.

Live Subscription Status

As of the last subscription day, May 23, 2025, by 7:00 PM, the IPO was subscribed 41.30 times, highlighting strong investor interest across retail, institutional, and HNI categories.

IPO Allotment Status: How to Check

Investors can check the allotment status on or after May 26, 2025, through the registrar's website. The process involves:

• Visiting the IPO allotment status page.

• Selecting Belrise Industries Limited IPO from the dropdown list.

• Entering the application number, PAN, or DP Client ID.

• Submitting details to view allotment results.

Use of IPO Proceeds

Belrise Industries plans to deploy the IPO proceeds primarily for:

1. Repayment or prepayment of outstanding borrowings, estimated at ₹16,181.27 Million.

2. General corporate purposes to support business expansion and working capital needs.

Conclusion

Belrise Industries Limited's IPO presents an opportunity to invest in a diversified Tier-1 automotive OEM group with steady financial growth and reasonable valuation. The healthy subscription figures and positive GMP point toward strong market confidence. However, investors should consider their risk appetite carefully before applying.

For risk-tolerant investors, the listing gains projected by the GMP make this IPO an attractive proposition. The company's extensive product portfolio, leadership experience, and solid financial performance provide confidence in its long-term potential in the automotive and allied sectors.

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