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Belrise Industries IPO Opens for Subscription, Aiming to Raise ₹2,150 Crore

The Pune-based auto component manufacturer plans to use proceeds to reduce debt and fund corporate growth, with shares priced between ₹85–90.

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IPO
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Overview

  • The IPO, entirely a fresh issue, opened on May 21 and will close on May 23, offering 23.89 crore equity shares.
  • Proceeds will primarily be used to repay ₹1,618.1 crore in debt, with the rest allocated to general corporate purposes.
  • Anchor investors, including Blackrock and HDFC Mutual Fund, have already contributed ₹645 crore at the upper price band of ₹90 per share.
  • The grey market premium (GMP) suggests a potential listing price of up to ₹102, indicating a 13.33% premium over the upper price band.
  • Share allotment is scheduled for May 26, with listing on the BSE and NSE expected on May 28.