Belrise Industries IPO Price: ₹85 to ₹90 per share
IPO Dates: 21st May 2025 – 23rd May 2025
Company Overview
Belrise Industries Limited, formerly known as Badve Engineering Pvt. Ltd., was incorporated in 1996. It transitioned into a public limited company in 2008 under the name Badve Engineering Ltd., and later rebranded as Belrise Industries Limited in 2022. Headquartered in India, Belrise is a leading manufacturer of automotive components, offering a wide array of safety-critical systems and engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agri-vehicles.
Product Portfolio
Belrise Industries offers a wide and diversified portfolio of automotive components tailored for a broad range of vehicles including two-wheelers, three-wheelers, passenger cars, commercial vehicles, and agricultural vehicles. Its product range includes metal chassis systems, polymer components, suspension systems, body-in-white parts, exhaust systems, casting components, and mirror assemblies.
With over 1,000 distinct products in its portfolio, the company addresses critical safety and performance needs across the entire vehicle ecosystem. Notably, its product development approach is powertrain-agnostic, allowing the company to seamlessly cater to both electric vehicle (EV) and internal combustion engine (ICE) platforms. This positions Belrise as a forward-looking supplier ready to meet the dynamic demands of a transitioning auto industry.
Manufacturing and Production Capacity
Belrise Industries has built an extensive manufacturing network that supports its high-volume, high-quality production capabilities. As of March 31, 2025, the company operates 17 manufacturing facilities strategically located across 10 cities in 9 Indian states. These facilities are vertically integrated, enabling Belrise to control key aspects of the manufacturing process and deliver consistent quality across product lines.
Collectively, the company processes approximately 60,000 tons of steel annually—an indicator of its substantial scale and operational strength. Earlier, as of June 30, 2024, Belrise had 15 facilities across nine cities in eight states, reflecting its recent capacity expansion to meet growing domestic and international demand.
Global Presence and Clientele
Belrise Industries markets its products both within India and across several international geographies. Its global footprint includes major automotive hubs such as Austria, Slovakia, the United Kingdom, Japan, and Thailand. As of December 31, 2024, the company served 29 original equipment manufacturers (OEMs) worldwide. These include leading multinational brands such as Bajaj Auto Ltd., Honda Motorcycle & Scooter India Pvt. Ltd., Hero MotoCorp, Jaguar Land Rover, Royal Enfield Motors, VE Commercial Vehicles, Tata Motors, and Mahindra. These longstanding partnerships underscore the company’s ability to meet the stringent quality and innovation standards required by top-tier automotive brands.
Industry Position and Recognition
Belrise Industries markets its products both within India and across several international geographies. Its global footprint includes major automotive hubs such as Austria, Slovakia, the United Kingdom, Japan, and Thailand. As of December 31, 2024, the company served 29 original equipment manufacturers (OEMs) worldwide. These include leading multinational brands such as Bajaj Auto Ltd., Honda Motorcycle & Scooter India Pvt. Ltd., Hero MotoCorp, Jaguar Land Rover, Royal Enfield Motors, VE Commercial Vehicles, Tata Motors, and Mahindra. These longstanding partnerships underscore the company’s ability to meet the stringent quality and innovation standards required by top-tier automotive brands.
Innovation and Intellectual Property
The company emphasizes innovation-driven development, supported by its advanced process engineering capabilities. It has been granted one patent for its suspension designs and has filed five additional patents related to electric vehicle technologies, including electric motors, motor controllers, and vehicle control units.
Competitive Strengths
Belrise Industries holds a leading position in India’s automotive supply chain. As of March 31, 2024, it commands a 24% market share in the two-wheeler metal components segment, placing it among the top three companies in the sector. Its core strengths include:
- Leadership in precision sheet metal pressing and fabrication
- Vertically integrated manufacturing and process control
- EV-agnostic product portfolio aligned with future mobility trends
- Strong R&D orientation with ongoing IP development
- Long-standing, trust-based relationships with major OEMs
- An experienced promoter group and management team with proven execution capabilities
- Together, these advantages ensure that Belrise is strategically positioned to benefit from both current automotive industry trends and future shifts toward electric and sustainable mobility solutions.
Bidding Starts In
Belrise Industries IPO Specifics:
| IPO Date | May 21, 2025 to May 23, 2025 |
| Listing Date | Wednesday, May 28, 2025 |
| Face Value | ₹5 per share |
| Price Band | ₹85 to ₹90 per share |
| Lot Size | 166 Shares |
| Total Issue Size | 23,88,88,888 shares (aggregating up to ₹2,150.00 Cr) |
| Fresh Issue | 23,88,88,888 shares (aggregating up to ₹2,150.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 65,09,90,304 shares |
| Share Holding Post Issue | 88,98,79,192 shares |
Belrise Industries IPO Timetable (Important Dates)
| IPO Open Date | Wednesday, May 21, 2025 |
| IPO Close Date | Friday, May 23, 2025 |
| Basis of Allotment | Monday, May 26, 2025 |
| Initiation of Refunds | Tuesday, May 27, 2025 |
| Credit of Shares to Demat | Tuesday, May 27, 2025 |
| Listing Date | Wednesday, May 28, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on May 23, 2025 |
Belrise Industries IPO Lot Size
Bidders have the opportunity to bid for a minimum of 166 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 166 | ₹14,940 |
| Retail (Max) | 13 | 2,158 | ₹1,94,220 |
| S-HNI (Min) | 14 | 2,324 | ₹2,09,160 |
| S-HNI (Max) | 67 | 10,956 | ₹9,86,040 |
| B-HNI (Min) | 68 | 11,122 | ₹10,00,980 |
Belrise Industries IPO Reservation
| QIB Shares Offered | Not more than 50% of the Net offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
Belrise Industries Limited IPO Financial Information
| Period Ended | 31 Mar 2022 | 31 Mar 2023 | 31 Mar 2024 | 31 Dec 2024 |
|---|---|---|---|---|
| Assets | 5,196.07 | 5,679.15 | 6,041.65 | 6,587.69 |
| Revenue | 5,410.68 | 6,620.78 | 7,555.67 | 6,064.76 |
| Profit After Tax | 307.24 | 356.70 | 352.70 | 245.47 |
| Net Worth | 1,734.45 | 2,038.20 | 2,331.92 | 2,577.55 |
| Reserves and Surplus | 1,715.31 | 2,024.16 | 2,014.43 | 2,252.24 |
| Total Borrowing | 2,597.96 | 2,271.40 | 2,440.98 | 2,599.80 |
Key Performance Indicator – Belrise Industries IPO
| KPI | Values |
|---|---|
| Market Cap | ₹ 8,008.91 Cr |
| EPS | ₹5.42 |
| P/E (x) | 16.61 |
| ROCE | 14.86% |
| Debt/ Equity | 0.97 |
| RoNW | 13.33% |
Objects of the Issue:
Belrise Industries plans to utilise the net proceeds from its upcoming IPO for the following purposes:
- To repay or prepay, either fully or partially, certain outstanding borrowings of the company.
- To fund general corporate requirements and support overall business operations.
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
