Belrise IPO kicks off on May 21; Co. decides price band of Rs 85 to Rs 90

Chhatrapati Sambhajinagar: Belrise Industries Limited, a Pune-headquartered leading automotive components manufacturer, will launch its highly anticipated Initial Public Offering (IPO) on May 21. The company has announced a price band of ₹85 to ₹90 per equity share (face value ₹5 each) for the IPO, which closes on May 23.

According to a company statement, the IPO, an entirely fresh issue of up to ₹2,150 crore, with no offer-for-sale component, will allow investors to bid for a minimum of 166 equity shares and in multiples thereof.

Of the total proceeds, ₹1,618.13 crore will be allocated for repayment or prepayment of certain borrowings, while the remainder will go toward general corporate purposes.

Belrise Industries offers a diverse array of safety-critical systems and engineering solutions catering to two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles. Belrise’s automotive product range includes over 1,000 distinct item spanning metal chassis systems, polymer components, suspension systems, body-in-white components, battery containers, and exhaust systems. The company serves both electric vehicles (EVs) and internal combustion engine (ICE) vehicles.

Its prominent clients include Bajaj Auto, Honda Motorcycle and Scooter India, Hero MotoCorp, Jaguar Land Rover, and Royal Enfield.

The Belrise has presence in key international markets including Austria, Slovakia, the UK, Japan, and Thailand, and served a diversified customer base of 29 OEMs globally.

The company recorded a 13.7% growth in revenue to ₹7,484.24 crore in FY24, up from ₹6,582.50 crore in FY23. Profit after tax for FY24 stood at ₹310.88 crore.

Axis Capital, HSBC Securities and Capital Markets (India), Jefferies India, and SBI Capital Markets are the book-running lead managers, while MUFG Intime India is the registrar to the issue

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Belrise Industries, which made beginning as Badve Engineering in Chhatrapati Sambhajinagar way back in 1996, today operates 17 manufacturing facilities across 10 cities in nine Indian states. Speaking to LT, Belrise managing director Shrikant Badve said we are strongly committed to investor welfare and all the proceeds of the IPO will be used for the company growth.