We are only a month into the Financial Year 2025–26, and the IPO buzz is already picking up pace. On May 21, Belrise Industries opened subscriptions for its initial public offering worth ₹2,150 Crores.
Established in 1988, Belrise Industries manufactures automotive components. Its product portfolio includes polymer components, casting parts, sheet metals, and mirror systems. The company’s strength lies in its strong customer portfolio, which features 27 noted OEMs, including Tata Motors, Jaguar Land Rover, VE Commercial Vehicles, and Mahindra & Mahindra.
At present, the company operates through 15 manufacturing facilities located in nine cities of eight different states.
Belrise Industries IPO Details
Belrise Industries is making its market debut. It intends to use the proceeds for partial and full repayment of its debt obligations amounting to around ₹1618.13 crores and for general corporate purposes. Here is an insight into the IPO:
Important IPO Timeline
| IPO Open Date | May 21, 2025 |
| IPO Close Date | May 23, 2025 |
| Allotment Date (Tentative) | May 26, 2025 |
| Initiation of Refunds | May 27, 2025 |
| Credit of Shares to Demat | May 27, 2025 |
| Listing Date (Tentative) | May 28, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 23, 2025 |
Key IPO Details
Here is the table on the Belrise Industries IPO Review:
| Face Value | ₹5 per share |
| Issue Price Brand | ₹85 to ₹90 per share |
| Lot Size | 166 Shares |
| Total Issue Size | 23,88,88,888 shares (aggregating up to ₹2,150 Cr) |
| Fresh Issue | 23,88,88,888 shares (aggregating up to ₹2,150 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing at | BSE, NSE |
| Shareholding Pre-issue | 65,09,90,304 shares |
| Shareholding Post Issue | 88,98,79,192 shares |
Lot Size Of Belrise Industries IPO
Here is the table of lot sizes for each category of investors:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 166 | ₹14,940 |
| Retail (Max) | 13 | 2158 | ₹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 Subscription Details
As of May 21, 1:34 PM, the company has received 1,58,066 applications for subscription across various categories. The Belrise Industries IPO has been subscribed 0.42 times, as detailed in the table below.
| Investor Category | Subscription (times) | Shares Offered | Shares bid for |
| Qualified Institutions | 0.41 | 4,77,77,779 | 1,96,03,604 |
| Non-Institutional Buyers | 0.67 | 3,58,33,333 | 2,38,86,072 |
| bNII (bids above ₹10L) | 0.68 | 2,38,88,889 | 1,62,21,852 |
| sNII (bids below ₹10L) | 0.64 | 1,19,44,444 | 76,64,220 |
| Retail Investors | 0.31 | 8,36,11,111 | 2,63,02,534 |
| Total | 0.42 | 16,72,22,223 | 6,97,92,210 |
Belrise Industries Financials Review
As of FY 24, Belrise Industries has an estimated market cap of ₹8,008.91 crore. The company’s profit margin after tax stands at 4.36%, while the return on capital employed is around 14.83%. Not only that, with a decent debt-to-equity ratio of 0.97 and a Price-to-Book Value of 2.50x, Belrise Industries reflects a healthy financial position.
Here is a quick snapshot of how the company has performed over the last few financial years.
Key Company Financials
| Period Ended | 31 Dec 2024
(Crores) |
31 Mar 2024
(Crores) |
31 Mar 2023
(Crores) |
31 Mar 2022
(Crores) |
| Assets | ₹6,587.69 | ₹6,041.65 | ₹5,679.15 | ₹5,196.07 |
| Revenue | ₹6,064.76 | ₹7,555.67 | ₹6,620.78 | ₹5,410.68 |
| Profit After Tax | ₹245.47 | ₹352.70 | ₹356.70 | ₹307.24 |
| Net Worth | ₹2,577.55 | ₹2,331.92 | ₹2,038.20 | ₹1,734.45 |
| Reserves and Surplus | ₹2,252.24 | ₹2,014.43 | ₹2,024.16 | ₹1,715.31 |
| Total Borrowing | ₹2,599.80 | ₹2,440.98 | ₹2,271.40 | ₹2,597.96 |
Top Upcoming IPOs to Watch (23rd–27th June 2025)
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Final Take
Belrise Industries IPO presents an attractive investment opportunity due to its strong market position in the automotive components sector, strategic focus on EV components, and long-standing OEM partnerships. The company’s expansion plans and debt repayment through IPO proceeds could enhance profitability. However, potential risks include high dependence on the Indian market, limited exports, and concerns over related-party transactions.
Stock market investments carry inherent risks. It is important for you, as an investor, to research and evaluate your investment options before putting your capital.
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