Belrise Industries share price: Stock lists at 11% premium; here's how much investors made per lot

Belrise Industries share price: Shares of automotive components manufacturer Belrise Industries made a decent listing on the stock exchanges on Wednesday, May 28.

The stock is listed at ₹100 a share on the NSE, a premium of 11.11% over the issue price of 90 per unit. On the BSE, it debuted at ₹98.5 apiece, a premium of 9.44%

Belrise Industries share price: Here's how much investors earned per lot

As the minimum application size was 166 shares, investors who were allotted Belrise Industries IPO shares made ₹16,600 per lot (166 x 100).

The ₹2,150 crore initial share sale was a fresh issue of 23.89 crore shares. There was no offer-for-sale component. It had a price band of ₹85 to ₹90 per share.

As per the RHP, the company will utilise IPO proceeds to clear debt and for general corporate purposes.

The public offer was subscribed 41.30 times during the three-day bidding period. It received bids for 7,31,30,36,542 equity shares as against 17,70,58,824 shares on offer.

Qualified Institutional Buyers (QIBs) subscribed their portion 108.35 times, while the non-institutional investors (NII) quota was subscribed 38.33 times. The part for retail investors garnered 4.27 times the subscription.

Before the IPO, the company had fetched ₹645 crore from anchor investors.

The firm has a long-standing relationship with major original equipment manufacturers like Hero MotoCorp, Honda Motorcycle & Scooter India, Bajaj Auto, Royal Enfield Motors, and Jaguar Land Rover.

Axis Capital, Jefferies India, HSBC Securities and Capital Markets (India) Pvt Ltd, and SBI Capital Markets were the book-running lead managers for the issue.