Belrise Industries raises Rs 645 crore from anchor investors ahead of IPO

BlackRock, Capital Group, HDFC MF, and others invest in Belrise ahead of its Rs 2,150 crore IPO, which opens Wednesday and aims to repay debt through fresh issue

Auto component manufacturer Belrise Industries, whose initial public offering (IPO) opens on Wednesday, has raised Rs 645 crore from anchor investors.

 

Some of the marquee names that participated in the anchor book include BlackRock, Capital Group, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Nippon India Mutual Fund, ValueQuest, and Bajaj Allianz Life, among others. 

 

Belrise has priced its IPO in the range of Rs 85 to Rs 90 per share. The Rs 2,150 crore IPO is an entirely fresh issue. The offering will open on Wednesday and close on Friday. The company plans to use the proceeds primarily for debt repayment.

 

 

Belrise’s automotive product portfolio includes over 1,000 components across chassis systems, exhaust systems, body-in-white parts, polymer components, battery containers, suspensions, and steering columns.