Belrise Industries Limited IPO: 10 Key Things to Know Before Investing

Belrise Industries is a key player in India’s automotive component manufacturing space, specializing in safety-critical systems for two-wheelers, passenger vehicles, and commercial vehicles. Its product range-like chassis systems, suspension parts, body-in-white components, and exhaust systems-is engine-agnostic, making it suitable for both EVs and ICE vehicles.

The company holds a 24% market share in the domestic two-wheeler metal components market and supplies parts to 29 global OEMs, including names like Bajaj Auto, Honda, Tata Motors, Jaguar Land Rover, and more. With 17 manufacturing facilities across 9 Indian states, Belrise is strongly placed to capitalize on both domestic and international automotive demand.

Here are the key details of the IPO:

•    IPO dates: May 21st – May 23rd, 2025
•    Listing date: May 28th, 2025
•    Price band: ₹85–₹90 per share
•    Total issue size: ₹2,150 Cr (Fresh Issue only)
•    Face value: ₹5 per share
•    Listing Exchange: BSE, NSE
•    Lot Size: 166 Shares
•    Promoters: Shrikant Shankar Badve, Supriya Shrikant Badve, and Sumedh Shrikant Badve

The minimum investment to apply for Belrise Industries IPO is ₹14,110, based on the lot size of 166 shares at the lower price band of ₹85 per share. To increase your chances of allotment, applying at the upper price band would require ₹14,940 (166 shares at ₹90 per share).

Incorporated in 1996 and based in Pune, Belrise manufactures precision automotive components across:

•    Product range: Metal chassis, body-in-white parts, plastic and suspension systems, and exhaust assemblies
•    Customers: Supplies to OEMs like Hero MotoCorp, Royal Enfield, and Jaguar Land Rover
•    Operations: 17 plants in 10 cities with 60,000-tonne steel processing capacity
•    Global reach: Presence in Austria, Slovakia, UK, Japan, and Thailand
 

Belrise’s strength lies in its ability to cater to both EV and traditional fuel vehicle segments with an R&D-driven, tech-enabled manufacturing approach.

The primary objectives of the Belrise IPO are:

•    Repayment or pre-payment of certain borrowings to reduce debt
•    General corporate purposes, including strategic growth and operational improvements

Though the exact reservation breakup has not been disclosed, typical IPO structures follow this format:

•    QIB Shares Offered: Not less than 50% of the issue
•    Retail Shares Offered: Not more than 35% of the issue
•    NII (HNI) Shares Offered: Not more than 15% of the issue

Strengths:
•    Market leader in precision sheet metal pressing for two-wheelers
•    Advanced tech integration: IoT, automation, in-house R&D
•    Strong OEM partnerships: Bajaj Auto, Tata Motors, Honda, etc.
•    Engine-agnostic product mix with high EV potential
•    24.6% CAGR in EV-specific revenue since FY22
 

Risks:
•    High dependence on 10 key customers for revenue (50–64%)
•    Regional concentration: 7 of 17 plants in Maharashtra
•    Reliance on related-party manufacturing
•    Sensitive to capacity utilization, labor issues, and supply chain disruptions
•    Vulnerable to customer-side production cuts due to requirement-based contracts

The company has shown consistent growth across key financial metrics (INR Cr):

•    Basis of allotment: May 26, 2025
•    Refund initiation: May 27, 2025
•    Shares credited to demat accounts: May 27, 2025
•    Listing date: May 28, 2025

Belrise Industries offers a solid opportunity to invest in India’s growing auto component industry, backed by a strong OEM client base, advanced manufacturing capabilities, and an EV-agnostic product portfolio. However, investors must assess customer concentration risks, regional dependencies, and operational vulnerabilities.

If you're bullish on the automotive and EV transition in India, and you're looking for a fundamentally strong, tech-enabled manufacturer with global exposure - Belrise may be worth considering. 
 

Always match the opportunity with your risk appetite and investment goals before applying.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before investing.