The Belrise Industries IPO is scheduled to open for subscription on May 21, 2025, and will close on May 23, 2025. The IPO will be listed on both BSE and NSE, with a tentative listing date of May 28, 2025, and allotment expected on May 26, 2025.
This book-built issue aims to raise ₹2,150 crore entirely through a fresh issuance of around 23.89 crore equity shares. The price band has been set between ₹85 to ₹90 per share, with a minimum application lot of 166 shares, requiring a retail investment of ₹14,110.
However, investors are advised to apply at the cutoff price, which amounts to ₹14,940, to improve allotment chances in case of oversubscription.
Financially, the company reported a revenue of ₹7,555.67 crore in FY2024, an increase from ₹6,620.78 crore in FY2023, while its net profit stood at ₹310.88 crore in FY2024, slightly lower than ₹313.66 crore in the previous year. Considering its revenue growth and consistent profitability, the IPO may be worth considering for long-term investors.
Belrise Industries Limited, founded in 1996, is a well-known automotive component manufacturing company in India. It specializes in providing a wide range of safety-critical and engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agricultural vehicles. The company’s product range includes chassis systems, body-in-white components, polymer parts, battery containers, exhaust systems, suspension systems, and steering columns.
Alongside its core manufacturing capabilities, Belrise also offers services like metal and polymer processing, mirror and suspension systems, surface treatment, coating, painting, foundry solutions, e-mobility components, and even ventures into home appliances and floriculture. One of its major strengths is its EV-agnostic product portfolio, which means its components are suitable for both electric and conventional internal combustion engine vehicles, making it future-ready.
With more than 30 years of industry experience, Belrise has built a strong manufacturing base across India. As of June 30, 2024, it operates 15 modern facilities in nine cities across eight states, supplying components to 27 original equipment manufacturers (OEMs) including Tata Motors, Mahindra, Honda, Hero, Bajaj, Royal Enfield, Jaguar Land Rover, and VE Commercial Vehicles. The company’s growth has been driven by its precision engineering capabilities, vertically integrated operations, strong customer relationships, and a visionary leadership team that is committed to innovation and quality.
Overview of Contents
Belrise Industries IPO Overview
| IPO Details | Information |
|---|---|
| Issue Type | Book Built Issue |
| Total Issue Size | 23,88,88,888 equity shares (₹2,150.00 Cr) |
| Fresh Issue | Entirely Fresh Issue of ₹2,150.00 Cr |
| Face Value Per Share | ₹5 |
| Price Band | ₹85 to ₹90 per share |
| Minimum Lot Size | 166 shares |
| Minimum Retail Investment | ₹14,110 (₹14,940 at cutoff price) |
| Post-Issue Shareholding | 88,98,79,192 shares |
| Pre-Issue Shareholding | 65,09,90,304 shares |
| Listing Exchanges | NSE and BSE |
| Retail Investor Quota | Not more than 35% |
| Qualified Institutional Buyers (QIB) | Not more than 50% |
| Non-Institutional Investors (NII) | Not more than 15% |
Belrise Industries IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Belrise Industries IPO Dates
| Event | Date (Day) |
|---|---|
| IPO Opening Date | May 21, 2025 (Wednesday) |
| IPO Closing Date | May 23, 2025 (Friday) |
| Basis of Allotment | May 26, 2025 (Monday) |
| Initiation of Refunds | May 27, 2025 (Tuesday) |
| Credit to Demat Account | May 27, 2025 (Tuesday) |
| Listing Date | May 28, 2025 (Wednesday) |
Belrise Industries IPO Lot Size
Investors applying for the Belrise Industries IPO can bid for a minimum of 166 shares and in multiples thereof. The table below shows the lot size and investment amount for retail and high net-worth individuals (HNI):
| Application Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 166 | ₹14,940 |
| Retail (Maximum) | 13 | 2,158 | ₹1,94,220 |
| S-HNI (Minimum) | 14 | 2,324 | ₹2,09,160 |
| S-HNI (Maximum) | 66 | 10,956 | ₹9,86,040 |
| B-HNI (Minimum) | 67 | 11,122 | ₹10,00,980 |
Objects of the Issue
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company; and
- General corporate purposes
Belrise Industries IPO Promoter Holding
Belrise Industries is promoted by Shrikant Shankar Badve, Supriya Shrikant Badve, and Sumedh Shrikant Badve. The promoter shareholding will change post-IPO as shown below:
| Shareholding | Percentage |
|---|---|
| Pre-Issue Shareholding | 99.81% |
| Post-Issue Shareholding | [To be updated] |
Belrise Industries IPO Review
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Belrise Industries IPO Financial Performance
Belrise Industries Limited has shown a consistent financial performance over the past few years, with growth in revenue and profits, a strong net worth base, and steady management of borrowings.
| Particulars | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 31 Dec 2024 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 5,410.68 | 6,620.78 | 7,555.67 | 6,064.76 |
| Profit After Tax (₹ Cr) | 307.24 | 356.70 | 352.70 | 245.47 |
| Assets (₹ Cr) | 5,196.07 | 5,679.15 | 6,041.65 | 6,587.69 |
| Net Worth (₹ Cr) | 1,734.45 | 2,038.20 | 2,331.92 | 2,577.55 |
| Reserves & Surplus (₹ Cr) | 1,715.31 | 2,024.16 | 2,014.43 | 2,252.24 |
| Total Borrowing (₹ Cr) | 2,597.96 | 2,271.40 | 2,440.98 | 2,599.80 |
Key Financial Ratios and Valuation Metrics of Belrise Industries for FY2024
Belrise Industries’ financial health and operational efficiency can be assessed through important valuation ratios and key performance indicators. These metrics provide insight into the company’s profitability, return on equity, leverage, and overall financial stability as it prepares for its IPO
| Metric | Value |
|---|---|
| Return on Equity (ROE) | 14.18% |
| Return on Capital Employed (ROCE) | 14.83% |
| EBITDA Margin | 12.54% |
| Profit After Tax (PAT) Margin | 4.15% |
| Debt-to-Equity Ratio | 0.97 |
| Earnings Per Share (EPS) – Basic | ₹4.78 |
| Price-to-Earnings (P/E) Ratio | Not Available |
| Return on Net Worth (RoNW) | 13.33% |
| Net Asset Value (NAV) | ₹35.94 |
Peer Group Comparison
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Income (₹ Cr.) |
|---|---|---|---|---|---|
| Bharat Forge Ltd | 20.43 | 65.02 | 13.84 | 153.90 | 15,682.07 |
| Endurance Technologies Ltd | 48.38 | 49.09 | 16.24 | 353.86 | 10,052.03 |
| Uno Minda Ltd | 15.36 | 65.01 | 21.68 | 91.71 | 13,910.36 |
Belrise Industries IPO Registrar
MUFG Intime India Private Limited
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
IPO Lead Managers aka Merchant Bankers
- Axis Capital Limited
- Hsbc Securities & Capital Markets Pvt Ltd
- Jefferies India Private Limited
- SBI Capital Markets Limited
Company Address
Belrise Industries Limited
Plot No D-39 MIDC
Area Waluj Aurangabad 431133
Maharashtra, India
Phone: +910240 255120
Email: [email protected]
Website: http://www.belriseindustries.com/
Belrise Industries IPO FAQs
When does the Belrise Industries IPO open and close?
The IPO opens on May 21, 2025, and closes on May 23, 2025.
What is the price band for the Belrise Industries IPO?
The price band is set between ₹85 and ₹90 per share.
What is the minimum lot size for applying to the Belrise Industries IPO?
Investors need to apply for a minimum of 166 shares per lot.
How many shares is Belrise Industries issuing in this IPO?
The company is issuing approximately 23.89 crore fresh shares, aggregating to around ₹2,150 crores.
On which stock exchanges will Belrise Industries be listed?
The IPO will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).