Belrise Industries IPO: MD speaks on growth and future plans

Belrise Industries, an auto component manufacturer, on Friday announced a price band of ₹85-90 per share for its ₹2,150-crore IPO, which is entirely a fresh issue of 23.89 crore shares. In an interaction with Fortune India, MD Shrikant Shankar Badve discussed the company's humble beginnings, succession plan, and future growth strategies.

At a time when many companies have deferred their IPO plans due to weak investor sentiment, Belrise Industries has decided to go ahead with its listing plans. Badve said, “Staying on long term is the right perspective. And for that point of view, anytime is right time.”

“Now, investor is one of the stakeholders, and we want very strong commitment to grow the company. Hence, all money is coming into company, which will be used for growth and expansion plans.”

On acquisition plans, Badve said, “Till now, we have not done any acquisitions, but I think there will be some for sure, but those will be not out of proportion and within the country. We would like to do something which is very safe and in our core area as we don’t like to do any diversification. Will do something into our core areas, our core activity, which is in subject of our understanding, and where we can add a value and create a growth for the company.”