Belrise Industries Limited, a leading manufacturer of automotive components, has announced the price band of Rs 85 to Rs 90 per equity share (face value Rs 5 each) for its forthcoming initial public offering (IPO).
The IPO will open for subscription on Wednesday, 21 May 2025, and will close on Friday, 23 May 2025. Investors can bid for a minimum of 166 equity shares and in multiples of 166 thereafter.
This IPO is a completely fresh issue amounting to Rs 2,150 crore, with no offer-for-sale component. The proceeds, to the extent of Rs1,618.13 crore, will be used for repayment or prepayment (in full or in part) of certain borrowings availed by the company, and for general corporate purposes.
Belrise Industries provides a wide range of safety-critical systems and engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles. Its product offerings include metal chassis systems, polymer components, suspension systems, body-in-white components, and exhaust systems. Notably, the company's product portfolio is powertrain-agnostic, making it equally suited for electric vehicles (EVs) and internal combustion engine (ICE) vehicles—positioning it well for the evolving EV landscape.
Belrise's automotive portfolio consists of over 1,000 distinct products, including battery containers and steering columns. It enjoys long-standing relationships with major OEMs such as Bajaj Auto, Hero MotoCorp, Honda Motorcycle & Scooter India, Royal Enfield, and Jaguar Land Rover.
As of 31 December 2024, Belrise had a global presence, exporting to key international markets including Austria, Slovakia, the United Kingdom, Japan, and Thailand. The company serves a diversified customer base of 29 OEMs.
In March 2025, Belrise acquired H-One India Private Limited, formerly a subsidiary of Japan-based H-One Company Limited. As of 31 March 2025, Belrise operated 17 manufacturing facilities across 10 cities in 9 Indian states.
In FY24, Belrise's revenue from operations grew by 13.70 per cent to Rs 7,484.24 crore, up from Rs 6,582.50 crore in FY23. This was driven by increased product sales and higher raw material and component prices. Profit after tax stood at Rs 310.88 crore for FY24.
For the nine months ending 31 December 2024, the company posted revenue of Rs 6,013.43 crore and profit after tax of Rs 245.47 crore.
The IPO is managed by Axis Capital, HSBC Securities and Capital Markets (India), Jefferies India, and SBI Capital Markets as the book-running lead managers. MUFG Intime India is the registrar of the issue.
The offer is being made through the book-building process, with:
- not more than 50 per cent of the net offer allocated to Qualified Institutional Buyers (QIBs),
- not less than 15 per cent allocated to Non-Institutional Investors (NIIs), and
- not less than 35 per cent allocated to Retail Individual Investors (RIIs)
