Belrise IPO: A Strong Start in Automotive Component Market!
Belrise Industries' IPO witnessed a promising start, getting 67% subscription on its first bidding day. The Rs 2,150 crore IPO, without an Offer For Sale component, aims to raise Rs 1,618 crore to reduce its debts. The IPO closes on May 23 with notable lead managers onboard.
- Country:
- India
Belrise Industries, an Indian automotive components manufacturer, launched its IPO with encouraging results, securing subscriptions for 67% of the shares on the opening day of bidding.
The company, specializing in safety-critical systems for vehicles, aims to raise Rs 2,150 crore through this IPO, which is entirely composed of fresh equity shares.
Belrise plans to use Rs 1,618 crore of the proceeds to pay down existing debt, having had borrowings around Rs 2,600 crore as of December 2024. The IPO, concluding on May 23, has Axis Capital and Jefferies India among its lead managers.
(With inputs from agencies.)
- READ MORE ON:
- Belrise
- IPO
- automotive
- shares
- investment
- India
- equity
- AnchorInvestors
- Debtreduction
- AxisCapital
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