Belrise Industries, a leading automotive component manufacturer, has announced the price range for its Initial Public Offering (IPO), setting it between Rs 85-90 per share. The company is looking to raise Rs 2,150 crore through this public offering.
The IPO will be open for public subscription from May 21 to May 23, with a one-day anchor investor bidding window on May 20. This offering consists solely of a fresh issue of equity shares, with no Offer for Sale (OFS) component, as per the Red Herring Prospectus (DRHP). As per the prospectus, the company plans to use Rs 1,618 crore of the proceeds to reduce its debt. Belrise Industries had total borrowings of approximately Rs 2,600 crore as of December 2024.
Belrise Industries, based in India, manufactures a wide range of safety-critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agricultural vehicles. The company has a presence in international markets, including Austria, Slovakia, the UK, Japan, and Thailand. The company maintains long-term relationships with top global OEMs like Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover, and Royal Enfield Motors.
As of December 2024, Belrise operates 17 manufacturing facilities across 10 states in India. For the financial year 2024, the company reported a 13.7% growth in revenue, reaching Rs 7,484.24 crore, compared to Rs 6,582.50 crore in the previous year. Its profit after tax stood at Rs 310.88 crore, slightly down from Rs 313.66 crore in the prior fiscal.
The IPO will allocate 50% of the shares to qualified institutional buyers, 35% to retail investors, and 15% to non-institutional investors. Investors can bid for a minimum of 166 shares, with subsequent bids in multiples of 166 shares. Axis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets are the lead managers for the offering.
With a robust portfolio that includes advanced battery systems, e-mobility solutions, and precision engineering products, Belrise is committed to supporting the transition to cleaner and more efficient transportation. Its state-of-the-art manufacturing facilities and emphasis on R&D enable the development of cutting-edge technologies tailored to meet diverse client needs. Guided by a vision for sustainable growth, Belrise Industries continues to enhance its global presence, playing a pivotal role in advancing the future of mobility.
