The ₹2,150 crore initial public offering (IPO) of Belrise Industries concludes today, May 23, 2025, after witnessing significant investor interest over its three-day subscription period. As of 11:36 AM on the final day, data from the Bombay Stock Exchange (BSE) showed the IPO was oversubscribed 5.56 times, with total bids reaching 98.48 crore shares against 17.70 crore shares on offer.
Among the investor segments, non-institutional investors (NIIs) led the charge with a 10.40 times oversubscription in their allocated portion. Retail investors followed with 2.35 times subscription, while qualified institutional buyers (QIBs) remained more cautious, subscribing at 0.80 times.
Belrise’s IPO comprises a fresh issue of equity shares, with no offer-for-sale (OFS) component. The price band has been fixed at ₹85–90 per share, with a lot size of 166 shares. At the upper end of the price band, retail investors needed a minimum of ₹14,940 to bid for one lot. The maximum retail investment allowed was up to ₹1,94,220 for 13 lots.
Grey Market Premium Reflects Strong Sentiment
Investor sentiment appears buoyant as Belrise Industries shares continue to trade at a solid premium in the grey market. According to sources tracking unofficial market activity, the IPO’s grey market premium (GMP) stood at around ₹23, or 25.56% above the upper issue price of ₹90, pushing the grey market price to ₹113 per share on the final day of bidding.
The IPO has received positive reviews from leading brokerage firms, including Choice Broking, ICICI Securities, and Anand Rathi, all of whom have recommended subscribing to the offer. The market buzz, combined with strong demand from retail and non-institutional segments, has further fueled optimism around the company’s listing prospects.
Investors now await key post-IPO events. The share allotment is expected to be finalized on Monday, May 26, with credit to demat accounts scheduled for Tuesday, May 27. Belrise Industries shares are likely to list on both BSE and NSE on Wednesday, May 28, 2025.
IPO Objectives and Company Profile
The proceeds from the Belrise Industries IPO are aimed at repaying or prepaying certain borrowings, in addition to funding general corporate purposes. The company has appointed MUFG InTime India (formerly Link InTime India) as the registrar, while the lead managers for the issue include Axis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets.
Belrise Industries is a key Indian player in the automotive components sector, specializing in safety-critical and precision-engineered parts for two-, three-, and four-wheelers, along with commercial and agricultural vehicles. In FY24, the company held a 24% market share in the two-wheeler metal components segment. Its product range includes chassis systems, suspension parts, body-in-white structures, and exhaust systems, catering to both electric and internal combustion engine vehicles.
With robust fundamentals and rising investor interest, Belrise Industries is set for a promising debut on the Indian stock exchanges.
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