(Belrise industries IPO)Belrise Industries Limited, a prominent Tier-1 automotive component manufacturer based in Pune, has launched its Initial Public Offering (IPO) from May 21 to May 23, 2025. The IPO aims to raise ₹2,150 crore through a fresh issue of equity shares, with a price band set at ₹85–₹90 per share. Investors can bid in lots of 166 shares, requiring a minimum investment of ₹14,940 at the upper price band.

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IPO Details at a Glance  

IPO Dates: May 21–23, 2025

Issue Size: ₹2,150 crore (fresh issue)

Price Band: ₹85–₹90 per share

Lot Size: 166 shares

Minimum Investment: ₹14,940

Grey Market Premium (GMP): ₹13–₹14, indicating a 14–16% premium over the upper price band

Listing Exchanges: BSE and NSE

Registrar: Link Intime India Pvt. Ltd

Lead Managers: Axis Capital, HSBC Securities, Jefferies India, SBI Capital Markets.

About Belrise Industries

Established in 1996, Belrise Industries specializes in manufacturing a diverse range of automotive components, including metal chassis systems, polymer components, suspension systems, body-in-white components, and exhaust systems. The company operates 15 manufacturing facilities across India and employs over 15,000 people. Belrise serves major Original Equipment Manufacturers (OEMs) such as Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover, and Royal Enfield Motors. 
Financial Performance

In the fiscal year 2023–24, Belrise reported:

• Revenue: ₹7,484.2 crore, a 13.7% increase from the previous year

• Net Profit: ₹310.9 crore, slightly down from ₹313.7 crore in FY23

• EBITDA: ₹924.5 crore, with a margin of 12.35%  

The company plans to utilize ₹1,618 crore from the IPO proceeds to repay debt, aiming to improve its debt-equity ratio and reduce interest expenses.  

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Strategic Acquisition: H-One India

In April 2025, Belrise completed the acquisition of H-One India, a subsidiary of Japan-based H-One Co., Ltd. This strategic move enhances Belrise’s design and manufacturing capabilities, particularly in high-tensile steel components, and strengthens its position as a supplier of chassis systems and body-in-white parts in the Indian automotive market.   

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📈 Market Sentiment and Subscription Status

On the first day of the IPO, Belrise Industries achieved a 67% overall subscription rate. Notably, the portion allocated to non-institutional investors (NIIs) was fully subscribed at 1.44 times.  The Grey Market Premium (GMP) stands at ₹13–₹14, indicating positive investor sentiment and the potential for a favorable listing.   

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🧠 Investment Considerations

Pros:

• Strong relationships with major OEMs

• Diversified product portfolio across multiple vehicle segments

• Strategic acquisition enhancing capabilities and market reach

• Positive market sentiment reflected in GMP 

Cons:

• Slight decline in net profit despite revenue growth

• EBITDA margin contraction indicating potential operational challenges

• Highly competitive automotive components industry 

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Conclusion

Belrise Industries’ IPO presents an opportunity to invest in a well-established automotive component manufacturer with a diversified product portfolio and strong industry relationships. The strategic acquisition of H-One India positions the company for future growth. However, potential investors should consider the company’s recent financial performance and the competitive landscape of the industry. Given the positive market sentiment and the company’s strategic initiatives, the IPO may be suitable for investors with a medium to long-term investment horizon.