The ₹2,150-crore initial public offering of Belrise Industries will open today for the public. The entire issue is a fresh issue by the company with no offer-of-sale component.

The IPO will close on May 23. The price band for the offer has been pegged at ₹85-90 a share and investors can bid for a minimum of 166 equity shares.

The offer is being made through the book-building process, wherein not more than 50 per cent of the offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15 per cent for allocation to non-institutional bidders, and up to 35 per cent of the offer to retail investors.

Ahead of the IPO, Belrise Industries on Tuesday garnered ₹645 crore from anchor investors. The company informed the bourses that it allocated 71,666,665 shares at ₹90 a share to anchor investors.

The investors who participated in the anchor book include foreign institutions like BlackRock, Capital Group, M&G, Pinebridge and domestic institutions such as ICICI Prudential MF, HDFC MF, Nippon India MF, ValueQuest, and Bajaj Allianz Life.

The proceeds from its fresh issuance, to the extent of ₹1,618.13 crore, will be used for repayment/prepayment, in full or in part, of certain borrowings availed by the company; and general corporate purposes.

Belrise Industries Ltd. (BIL) is an automotive component manufacturing company offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles. Its product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems, among others. BIL’s products are largely agnostic to vehicle powertrain types, reflecting its ability in catering to both electric vehicles and internal combustion engine vehicles, thus positioning it favourably to adapt to the growing electric vehicle market.

The company specialises in precision sheet metal pressing and fabrication (i.e., the process of joining sheet metal components to create unified structures for assembling vehicle subsystems and bodies), and has a market share of 24 pent in the overall two-wheeler metal components segment in India as of March 31, 2024, in terms of revenue (Source: CRISIL Report).

Belrise has a long-standing relationship with OEMs such as Bajaj Auto Limited, Honda Motorcycle & Scooter India Private Limited, Hero MotoCorp Limited, Jaguar Land Rover Limited and Royal Enfield Motors Limited, among others

Belrise Industries’ revenue from operations increased by 13.70 per cent 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 ₹310.88 crore.

For the nine months ended December 31, 2024, revenue from operations stood at ₹6,013.43 crore, and profit after tax stood at ₹245.47 crore.

Axis Capital Limited, Jefferies India Private Limited, HSBC Securities and Capital Markets (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.

Published on May 21, 2025