Subscribe for Belrise Industries Ltd IPO; Anand Rathi

Anand Rathi, Belrise Industries Ltd

Belrise Industries Limited is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, fourwheelers, commercial vehicles and Agri-vehicles. Their product portfolio includes metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems, among others. The company’s products are largely agnostic to vehicle powertrain types, reflecting their ability in catering to both electric vehicles and internal combustion engine vehicles, thus positioning us favorably to adapt to the growing electric vehicle market.

Valuation and Outlook

The company is focusing on increasing its Content per Vehicle along with focusing on EV’s, 4 Wheelers as Commercial Vehicles. We believe that the issue is fairly priced and recommend “Subscribe – Long Term” rating to the IPO.