Belrise Industries IPO: A Revving Success on Day Two

The initial public offering of Belrise Industries, a notable player in the automotive components sector, saw a robust response on its second day of bidding, achieving a 2.88 times subscription rate. The Rs 2,150-crore IPO observed bids for over 51 million shares, against the 17.7 million shares available, according to data from NSE.

The segment designated for non-institutional investors drew an impressive 8.96 times subscription, while the retail individual investors' category saw a 1.54 times subscription rate. Meanwhile, qualified institutional buyers accounted for 69 percent of their segment's allocated shares. Prior to this, Belrise Industries had secured Rs 645 crore from anchor investors.

The IPO, entirely composed of fresh equity shares without any offer for sale component, priced between Rs 85-90 per share, ends on May 23. The funds are intended to cover Rs 1,618 crore of the company's debt as of December 2024. Belrise Industries specializes in manufacturing safety-critical systems and engineering solutions for a range of vehicles and maintains partnerships with major OEMs such as Bajaj Auto and Hero MotoCorp.

(With inputs from agencies.)