Belrise Industries IPO Opens Tomorrow: GMP, Price, Review, and 10 Key Facts You Must Know

Published: May 20, 2025 | 12:15 PM IST

Belrise Industries IPO Opens Tomorrow GMP, Price, Review

India’s auto component giant Belrise Industries Limited is gearing up for its Initial Public Offering (IPO), which opens for public subscription on Wednesday, May 21, 2025. With a total issue size of ₹2,150 crore, this IPO is expected to be one of the most closely watched listings of the month.

If you’re an investor eyeing this public issue, here are the 10 most important things to know about the Belrise Industries IPO, including price band, lot size, grey market premium (GMP), objectives, and expert review.

📌 1. IPO Subscription Dates

The Belrise Industries IPO will be open from May 21 (Wednesday) to May 23 (Friday). The anchor investor portion opened on May 20, a day ahead of the public issue.

💰 2. IPO Price Band

The IPO price band has been fixed at ₹85 to ₹90 per share. At the upper price band, the stock is valued at 26 times FY24 earnings per share (EPS).

📦 3. Lot Size and Minimum Investment

Retail investors can bid in lots of 166 shares, requiring a minimum investment of ₹14,110. Applications can be made in multiples of this lot size.

💸 4. Total Issue Size

The company aims to raise ₹2,150 crore through a fresh issue of 23.89 crore equity shares. There is no Offer for Sale (OFS) component, ensuring that all funds go directly to Belrise Industries.

🎯 5. IPO Objectives

The net proceeds from the IPO will be used for:

  • Repayment or pre-payment of certain borrowings.

  • General corporate purposes to strengthen the company’s operations and balance sheet.

📈 6. Company Financials

Belrise Industries has shown consistent growth:

  • FY24 Revenue: ₹7,484 crore (up from ₹6,582 crore in FY23 and ₹5,397 crore in FY22).

  • CAGR: 17.76% (FY22–FY24)

  • FY24 Profit After Tax: ₹311 crore
    The profit remained relatively stable compared to ₹314 crore in FY23, and higher than ₹261 crore in FY22 (6% CAGR).

🧾 7. Belrise Industries IPO GMP (Grey Market Premium)

As of May 20, the GMP stands at ₹4.25. This suggests that shares are trading at ₹94.25 in the grey market, indicating a 4.7% premium over the upper IPO price. However, this is lower than the 19% premium observed two days ago, showing some volatility in investor sentiment.

⭐ 8. Analyst Review and Rating

Leading brokerage Anand Rathi has rated the IPO as “Subscribe – Long Term.”

Why?

  • Belrise ranks among India’s top 3 suppliers of metal components for two-wheelers with a 24% market share.

  • Strong presence in precision sheet metal fabrication, with opportunities in electric vehicles (EVs), commercial vehicles, and exports.

  • At the upper price band, the company’s market cap will be ₹8,008.9 crore with a Price-to-Sales ratio of 1.07 (based on FY24 revenue).

📚 9. Book Running Lead Managers (BRLMs)

The IPO is managed by a consortium of top investment banks:

  • Axis Capital

  • HSBC Securities & Capital Markets

  • Jefferies India

  • SBI Capital Markets

Link Intime India Pvt Ltd is the registrar for the public issue.

🏭 10. About Belrise Industries

Belrise Industries is a leading Indian automotive component manufacturer, catering to:

  • Two-wheelers

  • Three-wheelers

  • Four-wheelers

  • Commercial and agricultural vehicles

Product Portfolio:

  • Chassis systems

  • Suspension components

  • Polymer and metal body parts

  • Exhaust systems

  • Body-in-white parts

Importantly, Belrise’s products are powertrain-agnostic, making them suitable for both electric vehicles (EVs) and internal combustion engine (ICE) vehicles—a major growth advantage in today’s evolving automotive landscape.

✅ Should You Invest in Belrise Industries IPO?

If you’re a long-term investor looking to gain exposure to India’s booming automotive and EV supply chain, Belrise Industries offers a promising opportunity. The company’s consistent revenue growth, strategic positioning in the EV space, and strong industry reputation make it worth a close look.

However, the volatile GMP indicates that short-term listing gains may be modest, so approach accordingly if you’re a trader.

Disclaimer: This article is for informational purposes only and not investment advice. Please consult a certified financial advisor before investing.