Belrise Industries IPO
Belrise Industries IPO — date, price band, lot size & details 2025
Belrise Industries listed on 28 May 2025 at ₹100, 11.1% above the ₹90 issue price.
Belrise Industries makes safety-critical automotive components for two-wheelers, three-wheelers, four-wheelers and commercial vehicles. It served 27 OEMs from 15 manufacturing facilities on 30 June 2024.
Stock price
Belrise Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 10 November.
- Open 21 May 2025
- Close 23 May 2025
- Allotment 26 May 2025
- Refund/credit 27 May 2025
- Listing 28 May 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 21 to 23 May, 2025 |
|---|---|
| Price Band | ₹85 – ₹90 |
| Face Value | ₹5 |
| Lot Size | 166 Shares |
| Issue Size | ₹2150 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,940 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 166 shares at the ₹90 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 166 | ₹14,940 |
| Retail (max) | 13 | 2,158 | ₹1,94,220 |
| S-HNI (min) | 14 | 2,324 | ₹2,09,160 |
| S-HNI (max) | 66 | 10,956 | ₹9,86,040 |
| B-HNI (min) | 67 | 11,122 | ₹10,00,980 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 5,410.68 crore in FY2022 to Rs 7,555.67 crore in FY2024.
- 02The whole Rs 2,150 crore issue was fresh capital, and Rs 1,618.13 crore of it was for repaying debt.
- 03The company served 27 OEMs on 30 June 2024, including large two-wheeler and passenger vehicle makers.
- 04Net worth rose from Rs 1,734.45 crore on 31 March 2022 to Rs 2,577.55 crore on 31 December 2024.
- 05Return on capital employed was 14.83% and return on net worth was 13.33%.
Risks · 7
- 01Total borrowing was Rs 2,599.80 crore on 31 December 2024, slightly above net worth of Rs 2,577.55 crore.
- 02The latest financials cover only the nine months to 31 December 2024, with total income of Rs 6,064.76 crore.
- 03Profit after tax barely moved, at Rs 356.70 crore in FY2023 and Rs 352.70 crore in FY2024, while income rose.
- 04The PAT margin was thin at 4.36%.
- 05The P/E was 24.47 at the upper band of Rs 90, based on post-issue EPS of Rs 3.68.
- 06Debt to equity was 0.97 on the figures at the source.
- 07Promoter holding fell from 99.81% before the issue to 73.01% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Belrise Industries offer document.
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 6,587.69 | 6,041.65 | 5,679.15 | 5,196.07 |
| Total Income | 6,064.76 | 7,555.67 | 6,620.78 | 5,410.68 |
| Profit After Tax | 245.47 | 352.70 | 356.70 | 307.24 |
| NET Worth | 2,577.55 | 2,331.92 | 2,038.20 | 1,734.45 |
| Reserves and Surplus | 2,252.24 | 2,014.43 | 2,024.16 | 1,715.31 |
| Total Borrowing | 2,599.80 | 2,440.98 | 2,271.40 | 2,597.96 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Belrise Industries RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Belrise Industries IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹5.42 | ₹3.68 |
| P/E Ratio (x) | 16.61 | 24.47 |
| Market Cap at Offer Price (₹ Cr) | ₹4,076.07 | ₹6,003.34 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹90 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹2,150.01 Cr of the issue is earmarked to named objects.
Belrise Industries IPO Anchor Investors
27 anchor investors across 20 fund houses committed ₹644.99 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
The products are largely independent of powertrain type, so they can be used in both electric and petrol or diesel vehicles.
Customers include Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors and Mahindra. On 30 June 2024 the company served 27 OEMs from 15 manufacturing facilities in nine cities across eight states.
The IPO was a fresh issue of Rs 2,150 crore. Rs 1,618.13 crore of it was planned for repaying borrowings.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Belrise Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
HSBC Securities & Capital Markets (India) Pvt. Ltd.
13 issues handledBest listing: Tenneco Clean Air India (+27.2%). Weakest: Canara HSBC Life Insurance Co (0.0%).
SBI Capital Markets Ltd.
23 issues handledBest listing: Indo-MIM (+44.3%). Weakest: Ajax Engineering (-8.4%).
Axis Capital
40 issues handledBest listing: Moneyview (+61.8%). Weakest: Clean Max Enviro Energy Solutions (-8.8%).
Jefferies India Private Limited
16 issues handledBest listing: Dhoot Transmission (+37.8%). Weakest: Turtlemint Fintech Solutions (-10.4%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Belrise Industries?
The current Grey Market Premium is ₹21, or 23% over the issue price.
What is the Belrise Industries IPO price band?
₹85 to ₹90, on a face value of ₹5.
When is the allotment?
The basis of allotment is 26 May 2025, with listing on 28 May 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
