Belrise Industries IPO will open on May 21, 2025, and close on May 23, 2025. Founded in 1988, Belrise Industries Limited (earlier known as Badve Engineering Limited) manufactures automotive components which are used in 2-wheelers, 3-wheelers, 4-wheelers, and commercial vehicles.
In terms of revenue, Belrise comes in the list of top 3 companies in the 2-wheeler metal components segment with a market share of 24% as of March 31, 2024. So, let’s deep dive into the Belrise Industries IPO details, lot size, minimum investment, financial performance, and peer analysis.
Belrise Industries IPO Date
The key pointers for the Belrise Industries IPO dates are:
- Bidding Opening Date: May 21, 2025
- Bidding Closing Date: May 23, 2025
- Basis of Allotment Date: May 26, 2025
- Initiation of Refunds (in case of less or no allotment): May 27, 2025
- Shares Credited to Your Demat Account: May 27, 2025
- IPO Listing Date: May 28, 2025
- Listing on Exchange: BSE and NSE
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- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
Belrise Industries IPO Issue Size
Belrise Industries IPO valuation, as denoted by the market capitalization, stood at ₹8,008.91 crores.
Here are the important Belrise Industries IPO details:
- Belrise Industries IPO Price Band: ₹85 – ₹90 per share
- Face Value: ₹5 per share
- Lot Size: 166 Shares
- Issue Size and Amount: 23.88 crore shares (amounting to ₹2,150 crores)
- Fresh Issue Size and Amount: 23.88 crore shares (amounting to ₹2,150 crores)
Belrise Industries IPO Proceeds Usage
Belrise Industries Limited IPO proceeds will be used for the following purposes:
- Loan Repayment: ₹1,618.13 will be used for repayment or pre-payment of outstanding loans.
- Others: For other corporate requirements.
Belrise Industries IPO Reservations
Belrise Industries IPO reservations to different investors are:
- For QIBs: Not more than 50% of the issue
- For NIIs: Not less than 15% of the issue
- For Retail Investors: Not less than 35% of the issue
- Belrise Industries IPO Shareholder Quota: There is no provision for shareholder quota in this IPO.
Belrise Industries IPO Lot Size
Belrise Industries IPO lot size is 166 shares, wherein bidding can be done in further multiples. The minimum and maximum of the lot size that each category of investor can apply for in this IPO are:
| Applicant Type | Lot Size | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail (Min) | 1 | 166 | ₹14,940 |
| Retail (Max) | 13 | 2,158 | ₹1,94,220 |
| S-HNI (Min) | 14 | 2,324 | ₹2,09,160 |
| S-HNI (Max) | 66 | 10,956 | ₹9,86,040 |
| B-HNI (Min) | 67 | 11,122 | ₹10,00,980 |
Belrise Industries IPO Details: Promoter Holding
Shrikant Shankar Badve, Sumedh Shrikant Badve, and Supriya Shrikant Badve are the promoters of Belrise Industries Limited. The pre-IPO shareholding of the promoters in the company is 90.30%.
Belrise Industries Limited IPO: Company Overview
Belrise Industries Limited is a key player in the automotive component manufacturing sector. Its product basket includes over 1000 products such as chassis systems, battery containers, polymer components, suspension systems, body-in-white components, and exhaust systems.
The company is also focused on precision sheet metal pressing and fabrication for 2-wheelers, 3-wheelers, and 4-wheelers. Its operations span globally, including the UK, Japan, Thailand, Austria, etc.
Its clientele base includes top OEM players such as Bajaj Auto, Hero MotoCorp, Jaguar Land Rover, and Royal Enfield. The company has 15 manufacturing facilities in eight states in India, which are equipped with both backward and forward integration. After the acquisition of H-One India Private Limited, its manufacturing units increased to 17 in a total of 9 states as on March 31, 2025.
Belrise Industries Limited’s key strengths include: market leader in the precision sheet metal pressing and fabrication, technology-driven innovation, vertically integrated manufacturing facilities, EV-adaptive product portfolio, and long-standing relationship with clients.
Focusing on the industry analysis, the global 2-wheeler metal components market is expected to grow by a CAGR of 3.29% from ₹1,453.85 billion in 2023 to ₹1,767.28 billion in 2029. The overall 2-wheeler metal products market is estimated to grow at a CAGR of 11%-13% in the next five years till FY30.
Belrise Industries Limited IPO: Financial Performance
Belrise Industries Limited’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | % Change (FY24 – FY23) |
|---|---|---|---|---|
| Revenue | 6,064.76 | 7,555.67 | 6,620.78 | 14.12% |
| Revenue from Exports | 278.13 | 262.78 | 285.88 | -8.08% |
| Profit After Tax | 245.47 | 352.70 | 356.70 | -1.12% |
| EBITDA | 767.04 | 938.36 | 897.66 | 4.53% |
| Net Worth | 2,577.55 | 2,331.92 | 2,038.20 | 14.41% |
| Cash Flow from Operations | 315.65 | 582.35 | 789.49 | -26.24% |
| Total Borrowing | 2,599.80 | 2,440.98 | 2,271.40 | 7.47% |
| Assets | 6,587.69 | 6,041.65 | 5,679.15 | 6.38% |
WHY SMC
- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
- In FY24, Belrise Industries Limited’s total revenue rose by 14% to ₹7,555.67 crores, while revenue from exports fell by 8% to ₹262.78 crores.
- The profit after tax was at ₹352.70 crores and EBITDA grew by 4.53% to ₹938.36 crores, highlighting its stable operational performance.
- The net worth rose by 14% YoY to ₹2,331.92 crores in FY24.
- The cash flow from operations dropped by 26% YoY in FY24, but rose to ₹315.65 crores in the nine months ended 2024.
- The total borrowings rose by 7.47% to ₹2,440.98 crores while assets also increased by 6.38% YoY to ₹6,041.65 crores.
Belrise Industries Limited IPO: Peer Analysis
Here are the key ratios of Belrise Industries Limited in comparison to its peers:
- Belrise Industries Limited’s EPS is only ₹4.78, which means it is making less money on each share as compared to competitors.
- Belrise Industries has a competitive EBITDA margin and PAT margin of 12.54% and 4.15%, respectively.
- Both RoAE (Return on Average Equity) and RoACE (Return on Average Capital Employed) are at the healthy level of around 14%.
Belrise Industries IPO Risk Factors
Belrise Industries IPO GMP is ₹17 as of May 17, 2025 (5:55 AM). It is expected to list at an 18.89% gain at a price of ₹107. However, GMP is not a safe or assured criterion to bid for an IPO.
Belrise Industries Limited is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Seven (out of a total of 17) manufacturing units are in Maharashtra, which exposes the company’s operations to regional disruptions.
- More than 60% of the revenue is generated from the top 10 customers, and failure to maintain the customers can impact the financial performance.
- Inability to maintain the current levels of capacity utilization of the manufacturing units can reduce operational efficiency and margins.
- The risk of termination of contractual agreements with OEM customers or reduction in the production requirements can impact the business.
- An increase in the cost of materials or a disruption in the quality of raw materials can impact the operations and cash flows.
- The stoppage or non-availability of subsidies such as the Maharashtra Industrial Promotion Subsidy Policy 2013 can increase the cost or reduce profitability.
- Any pricing pressure from OEM customers can directly affect the profits, cash flows, and operations.
- Over 60% of the revenue is earned from the sales of 2-wheeler components, and a decrease in demand for 2-wheelers can reduce the earnings of the company.
Belrise Industries IPO Details: Contact Details
Here are details of the registered address and registrar name of Belrise Industries Limited:
- Registered Office Address: Plot No D-39 MIDC Area, Waluj, Aurangabad 431133, Maharashtra, India
- Email: complianceofficer@belriseindustries.com
- Company Website: http://www.belriseindustries.com/
- Registrar Name: MUFG Intime India Private Limited
For all the insights on Belrise Industries IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for this IPO easily on the SMC ACE App by opening free demat account now.
Frequently Asked Questions – FAQs
1. What does Belrise Industries do?
Belrise Industries Limited is an automotive component manufacturer with a product portfolio spanning metal processing, home appliances, polymer processing, and surface treatment. Today, 1 out of 3 domestic 2-wheelers have frame assembly manufactured by Belrise Industries.
2. Who owns Belrise Industries?
Mr. Shrikant Shankar Badve is the managing director (MD) of Belrise Industries Limited and has more than 28 years of experience in the field of engineering, finance, and management.
3. What is the price of Belrise Industries IPO?
The price band of Belrise Industries Limited IPO is ₹85 to ₹90 per share, with a minimum investment of ₹14,940.
4. What is the turnover of Belrise?
From just ₹2,500 crores of turnover in 2016, the Belrise Industries turnover has currently increased by approximately 3x to ₹7,484 crores.
References:
https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=3&ssid=15&smid=11
https://www.investorgain.com/gmp/belrise-industries-ipo-gmp/1247/
Author: All Content is verified by SMC Global Securities.
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