Belrise Industries shares listed on the exchanges at a premium on Wednesday, following a robust response to its Rs 2,150-crore initial public offering (IPO), which was subscribed 41.30 times.
Shares of Belrise Industries listed at Rs 100 per share on the NSE, a premium of 11.11 percent from its IPO price of Rs 90. The total market valuation of the company post listing of shares stood at Rs 8,678.10 crore.
On the BSE, the shares of the company were listed at Rs 98.50 per share, a premium of 9.4 percent.
The IPO, which consisted entirely of a fresh issue of equity shares with no offer-for-sale (OFS) component, was offered in a price band of Rs 85 - 90 per share.
The company is known for its process engineering and manufacturing excellence, with a growing focus on increasing content per vehicle and expanding into electric vehicles (EVs), four-wheelers and commercial vehicles.
Gaurav Garg, Lemonn Markets Desk, noted "Belrise Industries made a strong market debut on May 28, listing at Rs 100 on the NSE (11.11% premium) and Rs 98.5 on the BSE (9.44% premium) against its issue price of Rs 90."
"The company, a key supplier of safety-critical components and engineering solutions for two-, three-, four-wheelers, and commercial/agri vehicles, partners with top OEMs like Hero MotoCorp, Bajaj Auto, and Jaguar Land Rover. Its strong OEM ties and focus on future-ready segments make it a promising pick for medium- to long-term investors," he added.
Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Wealth, said "The IPO was fairly priced and reiterated a 'Subscribe – Long Term' stance, advising investors to hold the stock post listing for long-term wealth creation."
"For investors who received allotment, it would be wise to hold the stock for the medium to long term," said Mahesh M. Ojha, AVP – Research and Business Development at Hensex Securities. "Those looking to enter post listing should wait for price stability. If the stock retraces toward the Rs 100–105 zone and fundamentals stay intact, it could offer a good entry opportunity," he added.
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