Belrise Industries IPO subscribed 41.3 times on last day of offer

The initial public offer of automotive components maker Belrise Industries got subscribed 41.30 times on the closing day of bidding on Friday, helped by encouraging participation from institutional buyers.

The Rs 2,150-crore initial share sale received bids for 7,313,036,542 shares against 177,058,824 shares on offer, according to data available with the NSE.  The category for Qualified Institutional Buyers (QIBs) received 108.35 times subscription while the quota for non-institutional investors got subscribed 38.33 times. The portion for Retail Individual Investors (RIIs) fetched 4.27 times subscription.

Belrise Industries on Tuesday garnered Rs 645 crore from anchor investors.

The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).

The issue has a price band of Rs 85-90 per share.

Going by the prospectus, the company intends to utilise proceeds worth Rs 1,618 crore for the payment of debt. The company had borrowings of close to Rs 2,600 crore as of December 2024.

Belrise Industries is an automotive components 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.

The company has a long-standing relationship with customers, including prominent multinational OEMs such as Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors.

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

NSDL reports ₹83 cr net profit for Q4 

IPO-bound National Securities Depository (NSDL) reported a consolidated net profit of ₹83.29 crore in January to March quarter 2025, up 5 per cent year-on-year (Y-o-Y). However, on a Q-o-Q basis there was a 3 per cent decline.  The firm’s revenue from operations surged to ₹363.6 crore in Q4FY25 from ₹334 crore in Q4FY24. Earlier this month, the depository updated its DRHP, trimming the offer size from 57.26 million shares to 50.15 million.