Belrise Industries IPO
Open MainLineCurrent GMP
₹21 (+23.33%)
Price Band
₹ 85 – 90
Lot Size
166
Issue Size
₹2150 Cr
Minimum Investment
₹14940 (166 Shares)
Listing Date
28 May 2025
Subscription
41.3x
About the Company
Belrise Industries Limited is a leading automotive component manufacturer based in India, established in 1996. The company specializes in precision sheet metal pressing and fabrication, offering over 1,000 distinct products that cater to a wide range of vehicles including two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles. Its diverse product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white parts, exhaust systems, battery containers, and steering columns. Belrise’s components are largely agnostic to vehicle powertrain types, allowing it to effectively serve both electric vehicles and internal combustion engine vehicles—positioning the company well for the transition to electric mobility.
Belrise has experienced strong financial growth, with revenue from operations reaching ₹74,842.41 million in FY2024, up from ₹65,824.96 million in FY2023 and ₹53,968.54 million in FY2022, reflecting a CAGR of 17.76%. For the nine months ending December 31, 2024, revenue grew to ₹60,134.26 million, showing a slight year-on-year increase. The company holds a significant market share of 24% in the two-wheeler metal components segment in India and also operates in the three-wheeler and four-wheeler segments. It serves 29 original equipment manufacturers (OEMs) and exports to several international markets including Austria, Slovakia, the UK, Japan, and Thailand.
Belrise operates 17 manufacturing facilities across 10 cities in nine Indian states as of March 2025, following the acquisition of H-One India Private Limited. These facilities support both backward integration (such as tool making, tube bending, and press operations) and forward integration (system assembly, coating, and painting), enabling the company to maintain high production capacity and quality standards. The acquisition of H-One enhanced Belrise’s capabilities in four-wheeler metal stamping and complex tool design, further strengthening its position in the market.
With a strong focus on innovation and engineering, Belrise has a 159-member product development team specializing in design, simulation, prototyping, and testing. This capability has enabled the development of advanced and proprietary products, including patented suspension systems and high-precision steering columns. The company operates on a just-in-time inventory model, ensuring agile supply chain management and close collaboration with OEMs to meet evolving industry requirements. Belrise’s reputation for quality is reinforced by 31 awards received from customers and industry bodies, making it a preferred multi-product vendor in the automotive components industry.
Promoters
- Shrikant Shankar Badve
- Supriya Shrikant Badve
- Sumedh Shrikant Badve
Promoters Holding
Holding Pre Issue
99.81%
Holding Post Issue
73.01%
Objects of the Issue
The Company intends to utilise the Net Proceeds from the Issue towards funding the following objects (the “Objects”)
- Repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by our Company
- General corporate purposes
Address / Contact Info
Belrise Industries Limited
Plot No D-39 MIDC
Area Waluj
Aurangabad 431133
Maharashtra
Phone: +910240 255120
Email: complianceofficer@belriseindustries.com
Website: http://www.belriseindustries.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 21 May 2025
IPO Close Date
Friday, 23 May 2025
Basis of Allotment
Monday, 26 May 2025
Initiation of Refunds
Tuesday, 27 May 2025
Credit of Shares to Demat
Tuesday, 27 May 2025
Listing Date
Wednesday, 28 May 2025 — NSE & BSE
Important Dates
Open Date
21 May 2025
Close Date
23 May 2025
Basis Of Allotment
26 May 2025
Listing Date
28 May 2025
Financial Performance (₹ in Crores)
| Particular | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 6587.69 | 6041.65 | 5679.15 | 5196.07 |
| Revenue | 6064.76 | 7555.67 | 6620.78 | 5410.68 |
| Profit After Tax | 245.47 | 352.7 | 356.7 | 307.24 |
| Net Worth | 2577.55 | 2331.92 | 2038.2 | 1734.45 |
| Reserve & Surplus | 2252.24 | 2014.43 | 2024.16 | 1715.31 |
| Total Borrowings | 2599.8 | 2440.98 | 2271.4 | 2597.96 |
EPS Pre
5.42%
EPS Post
3.68%
P/E Pre
16.61
P/E (Post Issue)
24.47x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of Sun, Mar 31, 2024. |
|---|---|
| ROE % | 0 |
| ROCE % | 14.83 |
| Debt / Equity | 0.97 |
| RoNW % | 13.33 |
| PbW | 0 |
| Pat Margin % | 4.36 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 50588235 | 28.57 | 0 |
| Non-Institutional | 37941177 | 21.43 | 0 |
| BNII | 25294118 | 14.29 | 0 |
| SNII | 12647059 | 7.14 | 0 |
| Retail Investors | 88529412 | 50 | 0 |
| Total | 177058824 | 100 | 0 |
Subscription Status ( Fri, 23 May 25 01:36 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 50588235 | 5481123788 | 108.35x |
| Non-Institutional | 37941177 | 1454275536 | 38.33x |
| BNII | 25294118 | 1146626740 | 45.33x |
| SNII | 12647059 | 307648796 | 24.33x |
| Retail Investors | 88529412 | 377639376 | 4.27x |
| Total | 177058824 | 7313038700 | 41.3x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 166 | 14,940.00 |
| Retail (Max) | 13 | 2,158 | 194,220.00 |
| S-HNI (Min) | 14 | 2,324 | 209,160.00 |
| S-HNI (Max) | 66 | 10,956 | 986,040.00 |
| B-HNI (Min) | 67 | 11,122 | 1,000,980.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Axis Capital Limited
- Jefferies India Private Limited
- Hsbc Securities & Capital Markets Pvt Ltd
- SBI Capital Markets Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Belrise Industries IPO is a Book-building IPO worth ₹2150 crores. The price band is ₹85 to 90 per share. The IPO opens on Wed, May 21, 2025 and closes on Fri, May 23, 2025. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Belrise Industries IPO opens on Wed, May 21, 2025 and closes on Fri, May 23, 2025
Belrise Industries IPO Price Band is ₹85 to 90.
Belrise Industries IPO lot size is 166, and the minimum amount required for application is ₹14940.
The minimum investment for Belrise Industries IPO is approximately ₹14940 based on the upper price band.
To apply for the Belrise Industries IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, May 23, 2025. After submission, funds are blocked until the basis of allotment of Belrise Industries IPO is finalised.
Belrise Industries IPO issue size is ₹2150 crores.
Belrise Industries IPO allotment date is Sat, Jun 27, 2026.
The registrar for Belrise Industries IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Belrise Industries IPO through their official website or helpline.
The Belrise Industries IPO GMP (Grey Market Premium) is ₹21 as of Wed, May 28, 2025. Based on the upper price band of ₹90 per share, the estimated Belrise Industries IPO listing price is ₹111, indicating a potential listing gain of approximately 31% over the issue price.