Belrise Industries ₹2,150-crore IPO opens on May 21: Check price band, lot size & more details ahead of launch

Auto component maker Belrise Industries will launch its ₹2,150-crore initial public offering (IPO) on May 21. The IPO will remain open for subscription till May 23. The IPO is a complete fresh issue of over 23.8 crore shares worth ₹2,150 crore.

Incorporated in 1996, Belrise Industries Limited is an Indian automotive component manufacturing company that offers a comprehensive range of 1,000+ distinct automotive products spanning multiple categories. Its core product lineup includes metal chassis systems, polymer components, suspension systems, body-in-white components, and exhaust systems.

Belrise Industries IPO details

Belrise Industries IPO aims to raise ₹2,150 crore through its public issue. The issue is 100% book-built and made up entirely of a fresh issuance of 23.8 lakh shares, with no offer-for-sale (OFS) component.

The company has fixed the price band of the issue at ₹85 to ₹90 per share. The lot size, or the minimum bid quantity to apply for the issue, is 166 shares. This equates to a minimum investment amount of ₹14,940 per lot at the upper end of the price band for retail investors.

Belrise Industries has appointed Axis Capital, Jefferies India Private Limited, HSBC Securities & Capital Markets, and SBI Capital Markets as book-running lead managers of the IPO, while Link Intime India Private Ltd is the registrar for the issue.

Belrise Industries IPO: Important dates

Belrise Industries' IPO will remain open for bidding from 21 to 23 May. After the bidding is closed, the allotment of shares is expected to be finalised on May 26.

Successful bidders can expect the shares to be credited to their demat accounts by May 27, with others receiving refunds on the same day. Belrise Industries shares are scheduled to list on the BSE and NSE on May 28.

Belrise Industries IPO objective

Belrise Industries plans to raise ₹2,150 crore. The money raised from the IPO will be used towards the following objectives:

• Repayment or prepayment of borrowings: The company will use ₹1618 crore to repay or prepay some of its outstanding borrowings.
• General corporate purposes: Rest of net IPO proceeds will be used for general corporate purposes.

About the company

Pune-based Belrise Industries is one of India’s leading auto component manufacturers. The company operates 17 manufacturing facilities strategically located across 10 cities in 9 Indian states, including 2 facilities recently acquired from H-One in March 2025. This extensive manufacturing network processes over 60,000 tonnes of steel annually, demonstrating the significant scale of the company's operations.

The company has cultivated long-standing relationships with 29 global original equipment manufacturers (OEMs) across various vehicle segments. The company's prestigious client roster includes prominent brands such as Bajaj Auto Limited, Honda Motorcycle & Scooter India Private Limited, Hero Motocorp, Jaguar Land Rover Limited, and Royal Enfield Motors Limited.

The company has a 24% market share in terms of revenue in India’s 2-wheeler metal components segment. Belrise Industries' diversified product portfolio across multiple vehicle types and component categories reduces single-segment dependency, positioning it to capitalise on favourable market trends, particularly the 2-wheeler metal products market's projected 11-13% CAGR through FY30.

Financial snapshot

Strengths

• The company leverages advanced automation, robotics, IoT, and in-house engineering expertise across metal, polymer, and suspension systems to deliver high-precision, innovative automotive components.
• The company maintains longstanding relationships with 29 global OEMs, including Bajaj Auto, Honda, Tata Motors, and Jaguar Land Rover, supported by proximity-based manufacturing, multi-product supply capabilities, and reserved production lines.
• The company’s largely EV-agnostic portfolio accounted for 56% of FY24 revenue, with dedicated EV product revenue growing at a 24.6% CAGR between FY22 and FY24.

Risks and threats

• Seven out of the 17 of the company's manufacturing facilities are located in Maharashtra, exposing it to regional risks like natural disasters or economic changes.
• The company is heavily dependent on some of its customers for a large share of its revenue (63.82% for 9MFY25).
• The cyclical nature of the automotive industry can cause fluctuations in demand for Belrise's products.
• Growing adoption of electric vehicles may decrease revenue from products used in internal combustion engines. The company's limited experience and potential inability to adopt new technologies in EV components may hinder its ability to offset this decrease, adversely impacting its financials.