Belrise Industries IPO listing: Shares debut at 11% premium over issue price

Shares of Belrise Industries made a positive debut on the domestic bourses on Wednesday, in an otherwise weak broader market. The shares of the auto components manufacturer listed at ₹100 on the NSE, a premium of 11.11% over the IPO price of ₹90 apiece. On the BSE, the stock kicked off trading at ₹98.50 per share, up 9.4% over the issue price.

Meanwhile, the equity benchmark indices, the BSE Sensex and the NSE Nifty were trading lower by 0.2% each, undermining firm cues from global peers.  

The listing of Belrise Industries was below Street expectations as the stock was commanding a grey market premium (GMP) of ₹21 in the unlisted market, indicating listing to be around ₹111, up 23.33%.

This is the second mainboard IPO of FY26 to make its debut on the domestic bourses, after Ather Energy, a leading electric scooter manufacturer, raised ₹2,981 crore by publicly listing on May 6, 2025. So far this calendar year, 11 mainboard IPOs have garnered a total of around ₹19,000 crore, with the first 10 listing in the first two months of CY25.

Belrise Industries’ IPO subscribed 41x

The ₹2,150-crore IPO of Belrise Industries, which opened for subscription between May 21-23, garnered an overwhelming response from investors, with the issue being subscribed 41.3 times. The public issue received bids for over 731 crore shares, as against the offer size of 17.70 crore shares.

The issue of the automotive components maker, having a price band of ₹85-90 per share, received a massive response from qualified institutional buyers (QIBs) as the quota reserved for them was booked by a whopping 108.35 times. The portion set aside for non-institutional investors (NII) was subscribed 38.33 times, while the retail investors’ quota received 4.27 times bidding. Exchange data showed that the Belrise Industries IPO received over 25 lakh applications worth around ₹62,000 crore.  

Most brokerages such as Anand Rathi, ICICI Direct, Ventura Securities, GEPL Capital, SMIFS, Eureka Securities, Marwadi Financial Service, BP Wealth, and Choice Broking had given a “Subscribe” rating to the issue, highlighting the company’s strong positioning as a leading automotive components manufacturer with a diverse portfolio catering to two-wheelers, three-wheelers, four-wheelers, commercial and agri vehicles. Belrise holds a 24% market share in the two-wheeler metal components segment as of FY24 and has demonstrated healthy double-digit growth, supported by premiumisation and rising content per vehicle.

Ahead of the IPO, the company raised ₹645 crore from anchor investors on May 20. The company allocated 71,666,665 equity shares at the upper end of the price band at ₹90 per share to anchor investors. The investors who participated in the anchor book include foreign institutions like BlackRock, Capital Group, M&G, Pinebridge and domestic institutions like ICICI Prudential MF, HDFC MF, Nippon India MF, ValueQuest, and Bajaj Allianz Life.

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