Belrise Industries IPO Day 1: Issue subscribed 67%; retail category sees 48% subscription, QIB portion subscribed 42%

The initial share sale received bids for 11,82,49,436 shares against 17,70,58,824 shares on offer, according to the NSE data.

The non-institutional investors' portion was booked 1.44 times while the retail individual investors' category was subscribed 48%. Qualified institutional buyers' part received 42% subscription.

Belrise Industries on Tuesday garnered ₹645 crore from anchor investors ahead of IPO.

The ₹2,150-crore IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component, according to the Red Herring Prospectus (DRHP).

The issue, with a price band of ₹85-90 per share, will conclude on May 23.

Going by the prospectus, the company intends to utilise proceeds worth ₹1,618 crore for the payment of debt. The company had borrowings of close to ₹2,600 crore in its books as of December 2024.

Belrise Industries has fixed price band of ₹85-90 per share and a retail investor can bid for minimum one lot of 166 shares up to maximum of 13 lots. At the upper end of the price band one lot of Belrise Industries shares is priced at ₹14,940.

The company has reserved 50% shares in the IPO for QIBs, 35% for retail individual investors and 15% for non-institutional investors.

Belrise Industries is an automotive components manufacturing company based in India, 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 such as Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors.

Axis Capital, HSBC Securities and Capital Markets (India) Private Ltd, Jefferies India and SBI Capital Markets are the book running lead managers to the issue.