Belrise Industries IPO subscribed 67% on Day 1

New Delhi: The initial public offer of automotive components maker Belrise Industries got subscribed 67 per cent on the first day of bidding on Wednesday.

The initial share sale received bids for 11,82,49,436 shares against 17,70,58,824 shares on offer, according to the NSE data.

The non-institutional investors' portion was booked 1.44 times while the retail individual investors' category was subscribed 48 per cent. Qualified institutional buyers' part received 42 per cent subscription.

Belrise Industries on Tuesday garnered Rs 645 crore from anchor investors.

The Rs 2,150-crore IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the Red Herring Prospectus (DRHP).

The issue, with a price band of Rs 85-90 per share, will conclude on May 23.

Going by the prospectus, the company intends to utilise proceeds worth Rs 1,618 crore for the payment of debt. The company had borrowings of close to Rs 2,600 crore in its books as of December 2024.

Belrise Industries is an automotive components 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.

The company has a long-standing relationship with customers, including prominent multinational OEMs such as Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors.

Axis Capital, HSBC Securities and Capital Markets (India) Private Ltd, Jefferies India and SBI Capital Markets are the book running lead managers to the issue.