Belrise Industries IPO 2025: Key Insights, Dates, and Investment Analysis
India’s primary market continues to offer a mix of established companies and emerging players, and Belrise Industries Limited has now entered the arena with its much-anticipated ₹2,150 crore IPO. As an established automotive component manufacturer, Belrise is attracting investor attention not only for its financial stability but also due to its alignment with the evolving EV ecosystem.
The IPO is scheduled to open on 21st May 2025 and will close on 23rd May 2025, with a tentative listing date of 28th May 2025 on the NSE and BSE. Let’s break down everything you need to know to make an informed investment decision.
📌 IPO Overview: Belrise Industries Limited
| Particulars | Details |
|---|---|
| Issue Type | Book Building |
| Face Value | ₹5 per share |
| Issue Size | ₹2,150 crore (Fresh Issue) |
| Shares Offered | 23,88,88,888 |
| Price Band | ₹85 to ₹90 |
| Lot Size | 166 shares |
| Listing Exchanges | NSE, BSE |
| IPO Open Date | 21st May 2025 |
| IPO Close Date | 23rd May 2025 |
| Allotment Finalisation | 26th May 2025 |
| Refund Initiation | 27th May 2025 |
| Listing Date | 28th May 2025 |
💼 IPO Quota Allocation
The Securities and Exchange Board of India (SEBI) mandates reserved portions for different investor categories. Here’s how the net issue is divided:
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Qualified Institutional Buyers (QIB): <50%
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Non-Institutional Investors (NII): >15%
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sNII (small NII) and bNII (big NII) included
-
-
Retail Investors: >30%
This division ensures broad participation from diverse investor groups, enhancing liquidity post-listing.
💹 GMP (Grey Market Premium) Trend
The GMP for Belrise Industries IPO is currently hovering at ₹10 over the upper band of ₹90, suggesting a tentative listing price of ₹100.
| Date | GMP (₹) | Trend |
|---|---|---|
| 17 May 2025 | 10 | Increasing |
| 16 May 2025 | 10 | Increasing |
| 15 May 2025 | 10 | Increasing |
Note: GMP is not a guaranteed indicator of listing price. It reflects market sentiment and demand before listing.
🔍 Financial Performance Snapshot
| Metric | FY 2023-24 | FY 2022-23 | FY 2021-22 |
|---|---|---|---|
| Revenue (₹ Cr.) | 7,555.67 | 6,620.78 | 5,410.68 |
| Net Profit (₹ Cr.) | 352.70 | 356.70 | 307.24 |
| Net Worth (₹ Cr.) | 2,331.92 | 2,038.20 | 1,734.45 |
| Borrowings (₹ Cr.) | 2,440.98 | 2,271.40 | 2,597.96 |
Despite a minor decline in PAT in FY24 (-1.12%), the company has consistently grown revenue, a sign of operational strength. Net worth has risen steadily, indicating robust internal accruals.
📈 Valuation Metrics
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| PE Ratio | 16.61 | 24.47 |
| EPS (₹) | 5.42 | 3.68 |
| PB Ratio | 2.50 | – |
| Return on Equity (ROE) | 14.83% | – |
| Market Cap (Est.) | ₹8,008.91 Cr | – |
The pre-issue valuation appears fair, especially when compared to listed peers with significantly higher PE ratios. The moderate PE offers headroom for potential listing gains.
⚖ Peer Comparison
| Company | PE Ratio | EPS (₹) | Revenue (₹ Cr.) |
|---|---|---|---|
| Belrise Industries | 16.61 | 4.78 | 6,064.76 |
| Bharat Forge | 58.94 | 20.43 | 15,909.00 |
| Uno Minda | 62.19 | 15.36 | 14,065.00 |
| Motherson Sumi Wiring | 39.42 | 1.44 | 8,335.00 |
| JBM Auto | 45.52 | 15.12 | 5,030.00 |
| Endurance Technologies | 44.76 | 48.38 | 10,326.00 |
Belrise trades at a significant discount to peers, indicating undervaluation — a potentially attractive proposition for long-term investors.
🏭 Business Overview: Belrise Industries Limited
Founded in 1988, Belrise Industries is a tier-1 supplier of:
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Automotive sheet metal and casting parts
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Polymer components
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Mirror systems
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Suspension systems
Clientele Includes: Tata Motors, Bajaj Auto, Hero MotoCorp, Honda, Jaguar Land Rover, Royal Enfield, Mahindra, VE Commercial Vehicles, and others.
Competitive Strengths:
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EV-agnostic portfolio: Future-ready product line for ICE and EV platforms
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Vertically integrated facilities: Improves cost control and efficiency
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Long-standing OEM partnerships: Reflects reliability and product quality
🎯 IPO Objectives
The net proceeds of ₹2,150 crore will be used for:
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Repayment of certain borrowings
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General corporate purposes
Reducing debt is expected to strengthen the balance sheet and improve the debt-equity ratio, enhancing future fundraising capacity.
🧾 Bidding Details
| Investor Category | Min Lots | Shares | Investment (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 166 | ₹14,940 |
| Retail (Max) | 13 | 2,158 | ₹1,94,220 |
| S-HNI (Min) | 14 | 2,324 | ₹2,09,160 |
| B-HNI (Min) | 67 | 11,122 | ₹10,00,980 |
Each lot comprises 166 shares. Investors should ensure mandate approval via UPI/net banking to complete the application.
🖥️ How to Apply for Belrise Industries IPO
Steps to Apply:
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Open a Demat Account (if not already opened)
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Visit broker’s IPO section
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Select Belrise Industries IPO
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Choose quantity and bid price
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Approve UPI mandate
Ensure funds are maintained until allotment finalisation on 26th May.
📌 How to Check Allotment Status?
Through BSE:
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Select Equity, then Belrise Industries
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Enter PAN or application number
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Click submit
Through Registrar (Link Intime):
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Visit https://linkintime.co.in
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Go to IPO Allotment section
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Enter PAN/app number, check status
⚠️ Pros & Cons
✅ Pros:
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Diversified and EV-compatible product base
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Promoter experience and established OEM clientele
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Strong YoY revenue growth
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Vertically integrated operations
❌ Cons:
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Rising debt levels
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Slightly declining PAT
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Cyclical exposure to automotive demand
🧠 Expert View
Analysts currently remain neutral without published ratings but highlight strong fundamentals and listing potential driven by:
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Reasonable valuation
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Industry tailwinds (EV adoption, domestic auto growth)
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Institutional interest (QIB quota allocation likely to attract FIIs)
🔚 Conclusion
Belrise Industries IPO emerges as a strong mid-cap opportunity in the auto component space. With sound financials, a visionary product strategy, and a compelling valuation compared to peers, the IPO may offer substantial listing gains and long-term potential, especially amid India’s ongoing EV revolution.
Yet, investors should assess personal risk appetite, monitor daily GMP, and be aware of macro volatility before committing capital.
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