Belrise Industries Makes a Strong Debut on Stock Market
Belrise Industries Ltd, an automotive components manufacturer, saw its shares list with a significant premium on the stock market. The stock opened above the issue price and experienced strong investor demand, particularly from institutional buyers, during its initial public offering.
- Country:
- India
On Wednesday, Belrise Industries Ltd, a manufacturer of automotive components, debuted with significant growth on the stock market, listing at a premium of over 11% above its issue price of Rs 90.
Opening the trade at Rs 98.50, the stock surged by 9.44% on the BSE and later extended its gains to 14.66%, closing at Rs 103.20. At the NSE, the stock opened at Rs 100, marking an 11.11% premium.
The company's market valuation reached Rs 8,262.53 crore, showing strong demand during its initial public offering, which was subscribed 41.30 times. Belrise Industries offers a variety of safety-critical systems and engineering solutions for multiple vehicle types, maintaining relationships with major OEMs such as Bajaj Auto and Honda.
(With inputs from agencies.)
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