Sebi Link: https://www.sebi.gov.in/
Belrise Industries, an automotive component manufacturing company offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles has received final observation from the capital markets regulator, Securities and Exchange Board of India (SEBI), to raise Rs 2,150 crore through an initial public offering (IPO).
The Company had filed its IPO papers with Sebi on November 19, 2024.
The IPO with the face value of ₹ 5 per equity share, is entirely a fresh issue of up to ₹ 2,150 Crore with no offer for sale component.
The company, in consultation with the lead managers, consider a pre-ipo placement of specified securities, up to ₹ 430 crore. The amount raised pursuance to the pre-IPO placement will be reduced from the general corporate purpose portion of the issue. If undertaken, will be at a price to be decided by the company in consultation with the Brlms. The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the issue.
The company intend to utilize a portion of the net proceeds to the extent of Rs 1,618.08 crore for repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company.
Belrise Industries Limited was incorporated in 1996, have since diversified its customer base to 27 OEMs, as of June 30, 2024.
Product portfolio of the company includes metal chassis systems, polymer components, suspension systems, body-in-white components and exhaust systems, among others. Its products are largely agnostic to vehicle powertrain types, reflecting our ability in catering to both electric vehicles and internal combustion engine vehicles, thus positioning us favorably to adapt to the growing electric vehicle market.
The Company’s automotive product portfolio comprises over 1,000 distinct products across chassis systems, exhaust systems, body-in-white parts, polymer components, battery containers, suspensions and steering columns, among others. As of June 30, 2024, it marketed its products both domestically and internationally, with operations extending to several key global markets including Austria, Slovakia, the United Kingdom, Japan and Thailand.
The Company has a long-standing relationship with customers, including prominent multinational OEMs such as Bajaj Auto Limited, Honda Motorcycle & Scooter India Private Limited, Hero MotoCorp Limited, Jaguar Land Rover Limited and Royal Enfield Motors Limited, among others.
As of June 30, 2024, the company service a total of 27 OEMs globally, for a range of critical automotive components. It has 15 manufacturing facilities across nine cities in eight states, as of June 30, 2024 and expanded its manufacturing capabilities through both backward and forward integration.
Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited and SBI Capital Markets Limited are the book-running lead managers and Link Intime India Private Limited is the registrar to the issue.
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