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Belrise Industries ' IPO is into Day 2, and it's still warming up. As of early hours, the overall subscription stands at around 67 per cent. Not blazing hot, but not cold either — just enough to keep market watchers curious.
What's holding sentiment steady is the grey market premium (GMP), which is hovering at Rs 17, a 19 per cent mark-up over the upper end of the issue price. That's a sign there's still confidence in this auto components player, even if retail interest hasn't taken off yet.
What the company does
Belrise Industries is a Pune-based Tier-1 auto component supplier with a 35-year legacy. It makes critical safety and precision parts — suspension systems, mirror assemblies, plastic and metal components — for everything from scooters to trucks.
With 15 plants in India and a footprint in markets like Japan, the US, UK and China, it serves both traditional and EV players. The company is banking on increased content per vehicle and global demand to drive growth.
Belrise Industries IPO snapshot
| Item | Details |
|---|---|
| Issue size | Rs 2,150 crore (entirely fresh issue) |
| Price band | Rs 85-Rs 90 per share |
| Lot size | 166 shares (Rs 14,940 minimum) |
| IPO dates | May 21-23, 2025 |
| Expected listing | May 28, 2025 |
| GMP (May 22 morning) | Rs 17 (approx. 19 per cent premium) |
Subscription status (start of Day 2)
-
Overall
: 67 per cent
-
Retail investors
: 48 per cent
-
Non-institutional investors (HNIs)
: 1.44x
- QIBs : 42 per cent
The retail category is yet to catch fire. Most of the action so far is from HNIs who've come in early, likely sensing opportunity. QIBs tend to come in late, so Day 3 will be key.
What the street is saying
Despite the slow start, brokerages remain constructive. Most recommend subscribing, but with a long-term view.
-
ICICI Securities
expects PAT to grow to Rs 500 crore by FY27, backed by operating leverage and capex.
-
Anand Rathi
believes the IPO is fairly valued.
-
Geojit
likes the global exposure and product mix.
- Choice Broking points to the rising content-per-vehicle trend as a structural tailwind.
What it means for investors
Belrise offers a solid play on India's auto and EV evolution, with exports as a bonus kicker.
The IPO isn't flying off the shelves yet. But it's not stalling either. And that GMP? It's doing a good job of keeping the buzz alive.
For you: Belrise IPO opens flat. Will the ride pick up speed?
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
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