Belrise Industries, the Pune-based automotive components manufacturer, has raised Rs 645 crore from several institutional investors on May 20, a day before the public issue opening subscription.
The IPO will open for retail and non-retail investors on May 21 and close on May 23.
The Badve family-owned company aims to raise Rs 2,150 crore via initial public offering which comprises of solely fresh issue. The price band for the offer is Rs 85-90 per share.
According to the filing to exchanges, the company has finalised allocation of 7,16,66,665 equity shares to anchor investor at a price of Rs 90 per share.
Marquee investors acquired shares of Belrise Industries via anchor book are Blackrock, Smallcap World Fund, Prudential Assurance Company, Pinebridge Global Funds, BNP Paribas, and Tocu Europe.
Among other participants, ICICI Prudential Mutual Fund, HDFC MF, Nippon Life India, Valuequest India, Kotak Iconic Fund, Bajaj Allianz Life Insurance, Edelweiss, Mahindra Manulife MF, and Bharti Axa Life Insurance also invested in the company.
"Out of the total allocation of 7.17 crore equity shares to anchor investors, 3.06 crore shares were allocated to 5 domestic mutual funds, which have applied through a total of 10 schemes," the company said.
Belrise Industries that competes with listed competitors like Bharat Forge, Uno Minda, Motherson Sumi Wiring India, JBM Auto, Endurance Technologies, and Minda Corporation will utilise Rs 1,618.1 crore out of fresh issue proceeds for repayment of its debt. As at March 2025, it had total borrowings of Rs 2,904.5 crore.
The remainder IPO funds will be used for general corporate purposes.
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The automotive parts manufacturing company, which seeks valuation of over Rs 8,000 crore, provides safety critical systems and other engineering solutions for vehicles including metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems.
On the financial front, the company recorded profit at Rs 296 crore for the nine months period ended December 2024, declining 2.6 percent compared to same period last financial year, and revenue at Rs 7,484.2 crore, growing 13.7 percent YoY. Profit in the financial year ending March 2024 at Rs 245.6 crore declined 13.5 percent, and revenue at Rs 6,013.4 crore grew by 0.9 percent compared to previous fiscal.
Axis Capital, HSBC Securities and Capital Markets (India), Jefferies India, and SBI Capital Markets are handling Belrise Industries IPO.
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