Belrise files Rs 2,150 cr IPO, UPL announces Rs 3,377 cr rights issue

Automotive component manufacturing company Belrise Industries has filed its draft red herring prospectus (DRHP) with markets regulator, the Securities and Exchange Board of India (Sebi), for an initial public offering (IPO) of Rs 2,150 crore.

 

The company is considering a pre-IPO placement of up to Rs 430 crore. If the pre-IPO goes through, the amount so raised will be reduced from the general purposes portion of the issue. The IPO is a fresh issue, and the company intends to utilise proceeds worth Rs 1,618 crore to repay debts.

 

Belrise is an automotive component manufacturing company offering a diverse range of safety-critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles. Its product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems, among others.

 

The company markets its products both domestically and internationally, with operations extending to several key global markets, including Austria, Slovakia, the United Kingdom, Japan and Thailand.  

 

The company's customers include prominent auto manufacturers like Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors.

 

Meanwhile, agrochemical manufacturer UPL on Wednesday announced its plans for a rights issue worth Rs 3,377 crore. The company is planning to issue 9.38 crore shares. The company has priced its issue at Rs 360 per share at a 34 per cent discount to its current market price of Rs 547. So far in 2024, the stock of UPL has declined by 7 per cent. Till October 2024, 17 companies have raised Rs 17,728 crore.

 

Till October 2024, 68 firms raised Rs 103,197 crore from IPOs, the highest since 2021.