Belrise Industries IPO Bidding Opens Today: Check GMP, Key Dates & Other Details

Belrise Industries Ltd IPO: The primary market is gaining heightened investor attention again. The bidding period for Belrise Industries starts today and will conclude on May 23, 2025 (Friday). The price band for the initial public offering (IPO) is set at Rs 85 to Rs 90 per equity share.

The public offering consists entirely of a fresh issue with no offer-for-sale (OFS) and is planning to raise Rs 2,150 crore. The company specialises in component manufacturing for the automotive and white goods industries. Belrise Industries was incorporated in 1988 and offers a diversified product portfolio, including automotive sheet metal and casting parts.

The mainboard IPO will get listed on the National Stock Exchange and the Bombay Stock Exchange on May 28, 2025 (Wednesday). Bidders can apply for the IPO in lots and one lot includes 166 company shares. Retail investors are required to invest a minimum amount of Rs 14,110.

Belrise Industries Ltd IPO GMP

The grey market premium (GMP) refers to the price level at which the shares of a company trade in the grey market before getting officially listed on the bourses. As of 11:30 am, the shares of Belrise Industries Ltd. were trading at a GMP of Rs 15, commanding a premium of over Rs 16.6%.

SBI Capital Markets, Axis Capital, HSBC Securities and Capital Markets, Jefferies India are the book-running lead managers of the Belrise Industries IPO.

Should You Subscribe?

Belrise Industries' revenue from operations stood at Rs 74,842.41 million in FY24, increasing from Rs 65,824.96 million recorded in the previous fiscal.

"At the upper band, the company is valued at 26x its FY24 EPS. Following the issuance of equity shares, the company's market capitalisation stands at Rs 80,089 million, with a market cap-to-sales ratio of 1.07 based on its FY24 earnings," Anand Rathi brokerage firm said in its report.

"The company is focusing on increasing its content per vehicle, along with focusing on EVs, 4 Wheelers and commercial vehicles. We believe that the issue is fairly priced and recommend 'Subscribe – Long Term' rating to the IPO," the brokerage firm added.

However, the company's manufacturing facilities are mainly concentrated in Maharashtra (7 out of 17), which poses a regional risk. On top of this, a big chunk of their revenue comes from the top 10 customers.