Belrise Industries Shares Surge 8% on Market Debut
Belrise Industries Ltd's shares soared over 8% above their issue price of Rs 90, debuting on the stock exchange on Wednesday. On its first trading day, the company's shares saw enthusiastic market reception, with a market valuation of Rs 8,664.75 crore, fueled by high subscription rates.
- Country:
- India
Shares of Belrise Industries Ltd, an automotive components manufacturer, closed with an impressive 8% premium over the issue price on their market debut on Wednesday.
The stock commenced trading at Rs 98.50 on the BSE, a 9.44% hike from their initial issue price of Rs 90. Peaking at Rs 103.20 during the day's session, it ultimately closed at Rs 97.37. On the NSE, the stock listed at Rs 100, marking an 11.11% premium, and ended at Rs 97.41, an 8.23% premium.
Belrise Industries, valued at Rs 8,664.75 crore, attracted significant investor interest, with its initial public offering subscribed 41.30 times, largely thanks to institutional buyers. The company offers a range of automotive components and maintains partnerships with major OEMs like Bajaj Auto and Jaguar Land Rover.
(With inputs from agencies.)
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