Belrise Industries listing in focus: Belrise Industries’ share price had a healthy debut on Dalal Street today, May 28, as the scrip listed at a premium of 11.11% at ₹100 apiece on the NSE, compared to the issue price of ₹90. On the BSE, it was listed at a 9.44% premium at ₹98.5 apiece.
Following the healthy listing on the exchanges, the stock moved slightly higher to touch the day’s high of ₹102 but couldn’t sustain that level and is now trading around ₹96 as of noon (4% lower than the listing price). The issue received a stellar response from all categories of investors, with an overall subscription of 41.30 times during the bidding period from May 21 to May 23.
Following Belrise Industries’ market debut, Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd., said the listing was well below street expectations due to a subdued market environment. He noted that the IPO had received an overwhelming response, with overall subscription reaching over 41 times, significantly surpassing expectations.
He advised that, given the current market momentum and associated risks, long-term investors who received allotments should continue to hold, despite expected volatility in the short to medium term. For conservative investors, he suggested booking profits on the listing day.
Gaurav Garg, Lemonn Markets Desk said Belrise Industries made a strong debut on May 28, listing at ₹100 on the NSE (an 11.11% premium) and ₹98.5 on the BSE (a 9.44% premium) against its issue price of ₹90. He added that the IPO saw robust demand, with QIBs subscribing 108.35 times, NIIs 38.33 times, and retail investors 4.27 times.
He noted that Belrise is a key supplier of safety-critical components and engineering solutions for two-, three-, and four-wheelers, as well as commercial and agricultural vehicles.
The company partners with major OEMs such as Hero MotoCorp, Bajaj Auto, and Jaguar Land Rover. According to Garg, its strong OEM relationships and focus on future-ready segments make it a promising candidate for medium- to long-term investors.
About Belrise Industries
Belrise Industries is an Indian automotive component manufacturer offering a wide range of safety-critical systems and engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agricultural vehicles.
As of March 31, 2024, the company holds a 24% market share in the overall two-wheeler metal components segment in India (by revenue), making it one of the top three players in the segment. With rising product sales and a growing international presence, Belrise has shown strong revenue growth.
Its product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components, and exhaust systems. Major clients include Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors, and Mahindra.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
