Belrise Industries shares jump over 8% in market debut trade

New Delhi: Shares of automotive components maker Belrise Industries Ltd ended with a premium of over 8 per cent against the issue price of Rs 90 on Wednesday.

The stock started the trade at Rs 98.50, rallying 9.44 per cent from the issue price on the BSE. During the day, it jumped 14.66 per cent to Rs 103.20. The stock ended at Rs 97.37 apiece, up 8.18 per cent.

On the NSE, the stock was listed at Rs 100, registering a premium of 11.11 per cent. Shares of the firm settled at Rs 97.41, a premium of 8.23 per cent.

The company's market valuation stood at Rs 8,664.75 crore.

The initial public offer of Belrise Industries got subscribed 41.30 times on the closing day of bidding on Friday, helped by encouraging participation from institutional buyers.

The Rs 2,150-crore initial share sale had a price band of Rs 85-90 per share.

Belrise Industries is an automotive components 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.

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