Belrise Industries IPO
- IPO Date21 May, 2025 to 23 May, 2025
- Listing Date28 May, 2025
- Face Value₹5 per share
- Issue Price₹85 to ₹90 per share
- Lot Size166 Shares
- Minimum Investment₹14,940
- Listing AtBSE, NSE
- Total Issue Size23,88,88,888 Shares
(aggregating up to ₹2150.00 Cr) - Fresh Issue23,88,88,888 Shares
(aggregating up to ₹2150.00 Cr)
- Offer for Sale-
- Issue TypeBookbuilding IPO
- Share holding pre issue65,09,90,304
- Shareholding post issue88,98,79,192
IPO Dates
Closing Date
23 May, 2025
Initiation of Refunds
27 May, 2025
Listing Date
28 May, 2025
21 May, 2025
Opening Date
26 May, 2025
Basis of Allotment
27 May, 2025
Credit of Shares
Belrise Industries Lot Size
Investors can bid for a minimum of 166 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 166 | ₹14,940 |
| B-HNI (Min) | 67 | 11122 | ₹10,00,980 |
| Retail (Max) | 13 | 2158 | ₹1,94,220 |
| S-HNI (Max) | 66 | 10956 | ₹9,86,040 |
| S-HNI (Min) | 14 | 2324 | ₹2,09,160 |
Belrise Industries Promoter Holding
Shrikant Shankar Badve, Supriya Shrikant Badve and Sumedh Shrikant Badve are the company promoters.
| Pre Issue Share Holding | Post Issue Share Holding |
|---|---|
| 99.81% | - |
Belrise Industries COMPANY INFORMATION
Belrise Industries IPO is a bookbuilding of ₹2,150.00 crores. The issue is entirely a fresh issue of 23.89 crore shares. Belrise Industries IPO opens for subscription on May 21, 2025 and closes on May 23, 2025. The allotment for the Belrise Industries IPO is expected to be finalized on Monday, May 26, 2025. Belrise Industries IPO will be list on BSE, NSE with a tentative listing date fixed as Wednesday, May 28, 2025. Belrise Industries IPO price band is set at ₹85 to ₹90 per share. The minimum lot size for an application is 166. The minimum amount of investment required by retail investors is ₹14,110. But it is suggested to the investor to bid at the cutoff price to avoid the oversubscription senerio, which is about to ₹14,940. The minimum lot size investment for sNII is 14 lots (2,324 shares), amounting to ₹2,09,160, and for bNII, it is 67 lots (11,122 shares), amounting to ₹10,00,980. Axis Capital Limited, Hsbc Securities & Capital Markets Pvt Ltd, Jefferies India Private Limited, SBI Capital Markets Limited are the book running lead managers of the Belrise Industries IPO, while Link Intime India Private Ltd is the registrar for the issue. Refer to Belrise Industries IPO RHP for detailed information.
Incorporated in 1988, Belrise Industries Limited manufactures Automotive Sheet Metal and casting parts, Polymer components, Suspension, and mirror systems specifically for Two-Wheel, Three-Wheel, and Four-Wheel Passenger and Commercial vehicles.
The company is an automotive component manufacturing company in India offering a diverse range of safety critical systems.
Belrise Industries is a manufacturing company in India that offers a diverse range of safety-critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles.
The company's product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components, and exhaust systems.
The company's customers include Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors, and Mahindra.
As of June 30, 2024, the company services a total of 27 OEMs globally. The company have established 15 manufacturing facilities across nine cities in eight states, as of June 30, 2024.
Competitive Strength:
- Distinguished market leader in the high-growth field of precision sheet metal pressing and fabrication within a large and growing automotive component industry.
- enabled, innovation-driven development and process engineering capabilities.
- Vertically integrated manufacturing facilities offering a diverse range of products.
- Longstanding customer relationships are developed through years of collaboration and value addition.
- Largely EV- agnostic product portfolio, strategically positioned to scale in tandem with burgeoning electric vehicle market in India.
- Experienced promoters and management team.
In-Depth Analysis of the Belrise Industries IPO
The IPO of Belrise Industries Limited (formerly Badve Engineering Ltd) is generating considerable attention in the Indian capital market. A major player in the auto components sector, Belrise is now seeking public investment to accelerate its growth trajectory. Let’s examine the details, strengths, risks, and prospects of this IPO in a structured, human-readable, and SEO-optimized manner.
Belrise Industries IPO Company Overview
Belrise Industries is a renowned manufacturer of automotive components with a presence in key vehicle segments: two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agricultural vehicles. The company has 17 manufacturing facilities across India, with a concentration in Maharashtra.
Its diversified product portfolio includes:
Metal chassis systems
Suspension systems
Polymer components
Exhaust systems
Body-in-white components
Belrise caters to both ICE and electric vehicles, making it future-ready and adaptable to evolving industry trends.
Belrise Industries IPO Objectives of the IPO
Use of Proceeds
The company aims to raise up to ₹21,500 million through the public issue. Key utilizations include:
Prepayment of borrowings including interest
Funding capital expenditure requirements
General corporate purposes
Strategic Importance
Reducing debt will enhance the company's financial health and potentially improve return ratios. Investment in capex will support expansion and innovation, ensuring future competitiveness.
Belrise Industries IPO Financial Performance Snapshot
Revenue and Profit Trends
Total income for FY 2024: ₹79,925 million
Net profit FY 2024: ₹3,108.79 million
EBITDA margin: Consistently healthy
EPS (FY 2024): ₹4.78
Return on Net Worth (RoNW): 13.33%
Belrise has showcased robust financials with steady top-line and bottom-line growth, a sign of strong operations and demand resilience.
Belrise Industries IPO Industry Landscape
The Indian auto component market is on the rise, supported by increasing domestic demand and exports. Electrification, emission norms, and lightweighting trends benefit companies like Belrise due to their adaptable product range.
Belrise Industries IPO Risks Involved
Business Concentration Risk
7 out of 17 plants are in Maharashtra, increasing regional exposure risk.
Customer Dependency
Top 10 customers contributed 63.82% of revenue (9M FY24), indicating dependency on a limited client base.
Regulatory and Legal Challenges
GST and VAT investigations have occurred in the past. Although resolved, similar issues in the future could affect operations.
Belrise Industries IPO Pros and Cons
Pros
Strong presence in multiple vehicle segments
Robust financials and steady profitability
Experienced promoters and long-standing industry relationships
Product agnosticism (ICE & EV compatible)
Strategic capex and debt reduction plans
Cons
Heavy reliance on a few key customers
Geographic concentration of manufacturing units
Industry cyclicality could impact volumes
Past regulatory scrutiny, though settled
Summary of the Belrise IPO
Belrise Industries’ IPO stands on a solid foundation of consistent growth, diversified offerings, and strategic vision. Its readiness for the EV wave, combined with an ambitious expansion plan, makes it a compelling proposition—albeit with manageable risks related to customer and geographic concentration.
FAQs About Belrise Industries IPO
Belrise Industries IPO will open on 21 May, 2025 and close on 23 May, 2025. Investors must apply within this period to participate.
The Belrise Industries IPO price band is set between ₹85.00 and ₹90.00 per share. The minimum lot size is 166, requiring an investment of at least ₹14940.00.
The Belrise Industries IPO shares are expected to be listed on 28 May, 2025, subject to regulatory approvals and final allotment.
You can track your Belrise Industries IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Belrise Industries IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.
Unlike many peers, Belrise offers a future-oriented product line that caters to both internal combustion and electric vehicles, positioning it for long-term industry shifts.
Yes, a significant number of its facilities are located in Maharashtra, which may pose regional risk if there are local disruptions or regulatory changes.
Belrise has strategically aligned its offerings to support both EV and ICE platforms, including lightweight chassis and high-precision polymer components that suit next-gen vehicles.
A substantial portion will go towards debt repayment, thereby improving the company’s leverage ratio and freeing up capital for expansion.
Yes, there was a tax-related investigation which has been resolved, but future issues of a similar nature remain a risk factor.
Except for FY 2023, Belrise has not paid dividends in recent years. Future dividends will depend on earnings, cash flows, and capital needs.
Promoters hold a substantial stake, acquired at low average costs (as low as ₹0.23 to ₹1.31 per share), indicating a strong vested interest in the company’s performance.