Belrise Industries Limited, a manufacturer of automotive safety components, is gearing up for its stock market debut with an initial public offering (IPO) worth ₹2,150 crores. The public issue, comprising a fresh issue of 23.89 crore shares, will be open for subscription from May 21 to May 23, 2025.
Priced between ₹85 to ₹90 per share with a lot size of 166 shares, the IPO offers a minimum investment of ₹14,110 for retail investors, making it an accessible entry point. The share allotment is expected by May 26, and the company is set to list on both the BSE and NSE on May 28, 2025. This IPO offers a chance to invest in a growing auto ancillary company positioned for expansion and long-term value creation.
Belrise Industries Limited IPO is a fundraise worth ₹2150 crores, an entirely fresh issue of 23.89 crore shares. The IPO will be available for subscription from May 21, 2025, to May 23, 2025, providing an opportunity for investors looking to gain a stake in the auto ancillary sector.
| Belrise Industries IPO date | May 21, 2025 - May 23, 2025 |
| Price band | ₹85 to ₹90 per share |
| Face value | ₹5 per share |
| Lot size | 166 shares |
| Issue type | Book-built issue IPO |
| Fresh issue | 23,88,88,888 shares amounting to ₹2,150 crores |
| Total issue size | 23,88,88,888 shares amounting to ₹2,150 crores |
| Listing at | BSE, NSE |
| Share holding post issue | 88,98,79,192 shares |
| Share holding pre issue | 65,09,90,304 shares |
The Belrise Industries Limited IPO opens for subscription on May 21, 2025, and closes on May 23, 2025, with allotment slated for May 26, 2025.
| IPO open date | May 21, 2025 (Wednesday) |
| IPO close date | May 23, 2025 (Friday) |
| Basis of allotment | May 26, 2025 (Monday) |
| Initiation of refunds | May 27, 2025 (Tuesday) |
| Credit of shares to demat account | May 27, 2025 (Tuesday) |
| Listing date on exchanges | May 28, 2025 (Wednesday) |
| Cut-off time for UPI mandate confirmation | 5 PM on MONTH DATE, 2025 (Friday) |
Established in 1988, Belrise Industries Limited is an automotive component manufacturing company specializing in safety-critical systems for the automotive sector. The company manufactures a comprehensive range of products including automotive sheet metal and casting parts, polymer components, suspension systems, mirror systems, body-in-white components, and exhaust systems specifically designed for two-wheel, three-wheel, and four-wheel passenger and commercial vehicles, as well as agri-vehicles.
With a strong market presence, Belrise Industries serves 27 OEMs globally as of June 2024, counting major automotive manufacturers like Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors, and Mahindra among its prestigious client base. The company operates 15 manufacturing facilities strategically located across nine cities in eight states, enabling it to maintain a robust production infrastructure to meet diverse automotive industry demands.
Belrise Industries Limited intends to allocate the net proceeds from its IPO primarily toward two strategic objectives: the substantial sum of ₹16,181.27 million will be directed toward full or partial repayment/pre-payment of certain outstanding company borrowings, while the remaining funds will be utilized for general corporate purposes, effectively restructuring the company's debt profile and strengthening its financial foundation for future operations.
The Belrise Industries Limited IPO showcases a healthy market capitalization of ₹8,008.91 crores. The key performance indicators, as on March 31, 2024, reflect the company's financial health, with a Return on Capital Employed (RoCE) of 14.83%, Return on Net Worth (RoNW) of 13.33%, and Debt-to-Equity ratio of 0.97. The Price-to-Book Value (P/BV) is seen at 2.50 and the PAT Margin is 4.36.
| Period Ended | December 31, 2024 | March 31, 2024 | March 31, 2023 | March 31, 2022 |
| Assets | 6,587.69 | 6,041.65 | 5,679.15 | 5,196.07 |
| Revenue | 6,064.76 | 7,555.67 | 6,620.78 | 5,410.68 |
| Profit After Tax | 245.47 | 352.70 | 356.70 | 307.24 |
| Net Worth | 2,577.55 | 2,331.92 | 2,038.20 | 1,734.45 |
| Reserves & Surplus | 2,252.24 | 2,014.43 | 2,024.16 | 1,715.31 |
| Total Borrowing | 2,599.80 | 2,440.98 | 2,271.40 | 2,597.96 |
Amount in ₹ crores
Belrise Industries Limited has established itself as a distinguished market leader in the precision sheet metal pressing and fabrication segment, commanding a 24% market share in India's two-wheeler metal components sector as of FY 2024. The company's success is built on innovation-driven development capabilities and vertically integrated manufacturing infrastructure spread across 15 facilities throughout India, enabling production of over 1,000 diverse automotive components. This strategic manufacturing approach enhances product quality, minimizes supplier dependence, and ensures a robust supply chain.
The company benefits from longstanding relationships with major automotive manufacturers developed through years of collaboration and value addition. Notably, Belrise Industries maintains an EV-agnostic product portfolio that positions it advantageously in both traditional and electric vehicle markets, with its EV product range growing at an impressive CAGR of 24.60%. The company's continued success is further supported by experienced promoters and a professional management team with strong automotive industry expertise, allowing it to adapt and thrive in the evolving automotive landscape.
Belrise Industries faces significant customer concentration risk, with its top 10 customers accounting for approximately 84.32% of total revenues in FY23 (reduced to 57.42% in Q1 FY 2024, but still substantial). This heavy reliance on a small customer base means that the loss or decreased business from even a single key client could substantially impact the company's financial performance. Additionally, the company's fortunes are directly tied to the automotive industry; any economic slowdown or waning demand for vehicles, particularly in the two-wheeler segment which constitutes their primary revenue source, could negatively affect business operations and profitability.
The company also faces operational vulnerabilities, with 7 of its 15 manufacturing facilities concentrated in Maharashtra, creating exposure to regional risks that could disrupt production. Fluctuations in raw material prices and potential supply chain disruptions represent another significant challenge that could affect manufacturing operations and profit margins. Furthermore, as an international operator with export activities, Belrise is exposed to currency exchange rate fluctuations, particularly between the Indian Rupee against the USD and Euro, which could impact financial stability if not adequately hedged.
The Belrise Industries Limited IPO presents a compelling opportunity for investors to gain early exposure to the auto ancillary sector. Entering at this stage could offer significant long-term potential, but it’s important to approach the investment with a clear understanding of the company’s fundamentals, market standing, and future growth prospects. Before investing, prospective investors should evaluate the opportunity in the context of their financial goals and risk appetite. Conducting thorough research can help turn this promising IPO into a well-informed, strategic investment choice aligned with personal financial objectives.
What is the Belrise Industries IPO?
The Belrise Industries Limited IPO is a main-board offering consisting of a fresh issue of 23.89 equity shares with a face value of ₹5 per share, aiming to raise a total of ₹2,150 crores. The share price is set between ₹85 and ₹90, with a minimum order quantity of 166 shares. This IPO will be open for subscription from May 21, 2025, to May 23, 2025. Link Intime India Private Limited is the registrar while Axis Capital Limited, HSBC Securities & Capital Markets Private Limited, Jefferies India Private Limited, SBI Capital Markets Limited are the book-running lead managers.
When will the Belrise Industries IPO open?
The Belrise Industries Limited IPO will open for subscription on May 21, 2025, and will close on May 23, 2025.
When is the Belrise Industries IPO listing date?
The tentative listing date for the Belrise Industries Limited IPO is Wednesday, May 28, 2025.
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