Belrise Industries Limited, a prominent automotive components manufacturer, is preparing for its Belrise Industries Limited IPO to raise approximately ₹2,150 crore through a fresh issue of equity shares. As of now, specific details such as the IPO dates, price band, and lot size have not been officially announced.
IPO Overview
- Issue Size: Approximately ₹2,150 crore (Fresh Issue)
- Face Value: ₹5 per equity share
- Issue Type: Book Built Issue
- Listing Exchanges: BSE and NSE
- Retail Quota: 35%
- QIB Quota: 50%
- NII Quota: 15%
- IPO Price Band: To be announced
- Market Lot Size: To be announced
Important Dates (Tentative)
| Event | Date |
|---|---|
| IPO Open Date | To be announced |
| IPO Close Date | To be announced |
| Basis of Allotment Finalization | To be announced |
| Refunds Initiation | To be announced |
| Credit to Demat Accounts | To be announced |
| Listing Date | To be announced |
Grey Market Premium (GMP)
As of now, the Grey Market Premium (GMP) for Belrise Industries IPO is not available. Investors are advised to monitor financial news platforms for updates on GMP trends.
Company Profile
Established in 1996, Belrise Industries Limited specializes in manufacturing automotive components, offering a diverse range of safety-critical and engineering solutions for two-wheelers, three-wheelers, four-wheelers, and commercial vehicles.
Their product portfolio metal chassis systems, polymer components, suspension systems, body-in-white components, and exhaust systems.
The company serves 27 global Original Equipment Manufacturers (OEMs), including Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover, and Royal Enfield Motors.
Promoters of Belrise Industries Limited
The promoters of Belrise Industries Limited are:
- Shrikant Shankar Badve
- Supriya Shrikant Badve
- Sumedh Shrikant Badve
Belrise Industries Limited is a leading Indian automotive components manufacturer, currently preparing for its ₹2,150 crore Initial Public Offering (IPO).
The company is promoted by the Badve family, who collectively hold a significant majority of the company’s equity.
Promoters of Belrise Industries Limited
As of the latest disclosures, the primary promoters of Belrise Industries Limited are:
- Shrikant Shankar Badve: Holds 53,00,36,384 equity shares, representing 81.42% of the paid-up equity capital.
- Supriya Shrikant Badve: Holds 4,33,33,920 equity shares, accounting for 6.66% of the paid-up equity capital.
- Sumedh Shrikant Badve: Holds 1,45,05,120 equity shares, amounting to 2.23% of the paid-up equity capital.
Collectively, these three promoters own 58,78,75,424 equity shares, which is 90.3% of the company’s paid-up equity capital.
Promoter Group Entities
In addition to the individual promoters, the promoter group includes the following entities:
- Shankar Prabhakar Badve HUF: Holds 20,160 equity shares.
- Swastid Shrikant Badve: Holds 20,16,000 equity shares (0.31%).
- Creative Tools and Press Components Pvt Ltd: Holds 3,83,040 equity shares (0.06%).
- Badve Autocomps Private Limited: Holds 10,88,640 equity shares (0.17%).
- Sumedh Tools Private Limited: Holds 5,83,43,040 equity shares (8.96%).
These promoter group entities collectively hold 6,18,50,880 equity shares, representing 9.5% of the paid-up equity capital.
Overall Shareholding Summary
| Category | No. of Shares | % of Paid-Up Equity Capital |
|---|---|---|
| Promoters | 58,78,75,424 | 90.3% |
| Promoter Group | 6,18,50,880 | 9.5% |
| Total | 64,97,26,304 | 99.81% |
Post-IPO, the shareholding pattern is expected to change, with the promoters’ and promoter group’s combined stake likely to decrease, depending on the number of new shares issued and subscribed.
However, specific details regarding the post-IPO shareholding structure will be available once the final prospectus is filed and the IPO is completed.
Belrise Industries Limited IPO Promoter Holding
Collectively, they hold approximately 90.3% of the company’s paid-up equity capital. The detailed shareholding is as follows:
- Shrikant Shankar Badve: 81.42%
- Supriya Shrikant Badve: 6.66%
- Sumedh Shrikant Badve: 2.23%
Belrise Industries Limited IPO Share Price
As of May 10, 2025, Belrise Industries Limited has not yet announced the price band for its upcoming Initial Public Offering (IPO). The IPO is expected to raise approximately ₹2,150 crore through a fresh issue of equity shares. However, the specific share price range and lot size remain undisclosed.
The company has received approval from the Securities and Exchange Board of India (SEBI) and is working with book-running lead managers—Axis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets—to determine the final pricing.
About Belrise Industries Limited
Belrise Industries Limited, formerly known as Badve Engineering Ltd., is a prominent Tier-1 automotive Original Equipment Manufacturer (OEM) manufacturing group based in India.
Established in 1988 by Mr. Shrikant Badve, the company has evolved from a small automotive fastener manufacturer into a diversified conglomerate with a significant presence in the automotive components industry.
Company Overview
- Founded: 1988
- Founder: Mr. Shrikant Shankar Badve
- Headquarters: Pune, Maharashtra, India
- Revenue: INR 7,484.2 crore (as of 2023)
- Workforce: Over 15,000 employees
- Manufacturing Facilities: 15+ plants across 7 Indian states
- Export Markets: United States, Japan, United Kingdom, and China
Product Portfolio
Belrise Industries specializes in manufacturing automotive systems for two-wheelers, three-wheelers, and four-wheeler passenger and commercial vehicles. The company’s product portfolio includes:
- Metal Processing: Chassis & Body-in-White (BIW) parts, exhaust systems, press parts, seating parts, cross car beams
- Polymer Processing: Two-wheeler fairings, seat and side covers, luggage boxes, helmets, headlight housings
- Surface Treatment: Tri Hexavalent Nickel Chrome plating for mild steel and stainless steel components
- Mirror Systems: Outer and inner rear-view mirrors for passenger and commercial vehicles
- Suspension Systems: Front forks for two-wheelers, shock absorbers, semi-trailing arms, wishbone assemblies
- Foundry Products: Clutch & pressure plates, flywheels, control arms, crankshafts, housings, hubs, calipers
- Home Appliances Components: Refrigerator vegetable trays, freezer grills, fridge baskets, thermostat parts
- Security Hardware: Household locks and bolts
- E-Mobility Components: Components and subsystems for electric vehicles
- Floriculture: Rose plantation initiatives
The company maintains long-standing relationships with major Indian and global OEMs, supplying components to 27 global OEMs, including Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover, and Royal Enfield Motors.
Achievements and Recognitions
- TPM Excellence Awards: Belrise Industries has been honored with the ‘Award for TPM Excellence’ by the Japan Institute of Plant Maintenance (JIPM) for its Khalumbre, Pune, and Pantnagar, Uttarakhand plants.
- Make in India Ambassador: Mr. Shrikant Badve serves as a Brand Ambassador for the Government of India’s ‘Make in India’ initiative and the Maharashtra Industrial & Economic Development Association (MIEDA).
Financial Highlights
| Fiscal Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | EBITDA Margin | PAT Margin | Return on Net Worth (RoNW) | Debt-to-Equity Ratio |
|---|---|---|---|---|---|---|
| 2022 | 5,410.68 | 261.85 | 14.15% | 4.85% | 15.10% | 1.48 |
| 2023 | 6,620.78 | 313.66 | 13.64% | 4.77% | 15.39% | 1.06 |
| 2024 | 7,555.67 | 310.88 | 12.54% | 4.15% | 13.33% | 0.97 |
| Q1 2025 | 1,791.97 | 71.58 | — | 4.02% | — | — |
Financial Performance
Belrise Industries has demonstrated consistent growth over the years. For the financial year ending March 2023, the company reported:
- Revenue: INR 7,484.2 crore
- EBITDA Margin: Approximately 14.15%
- Profit After Tax (PAT) Margin: Approximately 4.85%
- Return on Net Worth (RoNW): Approximately 15.10%
These figures reflect the company’s strong financial health and operational efficiency.
Key Performance Indicators (KPI)
| Metric | Value |
|---|---|
| Revenue from Operations | ₹7,484.2 crore |
| EBITDA | ₹1,059.6 crore |
| EBITDA Margin | 14.15% |
| Profit After Tax (PAT) | ₹363.3 crore |
| PAT Margin | 4.85% |
| Return on Net Worth (RoNW) | 15.10% |
| Debt-to-Equity Ratio | 1.48 |
| Net Worth | ₹2,406.7 crore |
| Asset Turnover Ratio | 1.87x |
| Interest Coverage Ratio | 3.72x |
| Number of Manufacturing Facilities | 15+ |
| Export Markets | 4 countries |
| Client Base | 27 Global OEMs |
| Employees | Over 15,000 |
| Product Segments | 10+ |
Objects of the Issue
The Objects of the Issue for the upcoming Initial Public Offering (IPO) of Belrise Industries Limited are as follows:
1) Repayment/Pre-payment of Borrowings:
- The company plans to utilize a portion of the net proceeds to repay or prepay, in full or in part, certain outstanding borrowings availed by the company. This will help in reducing the debt burden and improving the debt-equity ratio.
2) General Corporate Purposes:
- The remaining funds will be used for general corporate purposes, which may include funding capital expenditure requirements, strengthening the company’s marketing initiatives, and enhancing its brand visibility.
Strengths of Belrise Industries Limited IPO
1) Market Leadership in Automotive Components:
- Belrise is a prominent player in the Indian automotive components sector, particularly in precision sheet metal pressing and fabrication. The company supplies to major Original Equipment Manufacturers (OEMs) like Hero MotoCorp, Bajaj Auto, and Honda Motorcycle & Scooter India.
2) Diversified Product Portfolio:
- The company offers a wide range of products, including chassis systems, body-in-white components, polymer components, and suspension systems. Notably, in 2024, products suitable for both electric vehicles and internal combustion engine applications constituted 74.22% of the company’s revenue.
3) Strategic Acquisition Enhancing Capabilities:
- Belrise’s acquisition of H-One India from Japanese H-One Co. has bolstered its design and manufacturing capabilities, especially in high-tensile steel technologies crucial for vehicle safety and efficiency.
4) Strong Financial Performance:
- For the financial year ending March 2023, Belrise reported revenue of ₹7,484.2 crore, EBITDA of ₹1,059.6 crore, and a PAT margin of 4.85%, indicating robust financial health.
Risks of Belrise Industries Limited IPO
1) Geographical Concentration of Facilities:
- Out of its 15 manufacturing facilities, seven are located in Maharashtra. This concentration exposes the company to regional risks, including infrastructure disruptions and local regulatory changes.
2) Client Concentration Risk:
- The company relies heavily on its top ten customers, primarily OEMs, for a significant portion of its revenue. For instance, the top two customers account for approximately 30% of total revenue from operations. Loss of any major client could adversely affect the company’s financials.
3) Capacity Utilization Challenges:
- Belrise’s manufacturing facilities may face challenges like machinery breakdowns or industrial accidents, affecting capacity utilization. Notably, a fire at the Aurangabad Facility II in May 2023 impacted operations.
4) Dependence on Raw Material Suppliers:
- The company depends on over 150 suppliers for raw materials, which constitute more than 60% of total expenses. Fluctuations in raw material prices can impact profitability, especially if the company cannot pass on increased costs to customers.
Investors should carefully consider these strengths and risks when evaluating the Belrise Industries Limited IPO. For detailed information, refer to the company’s Draft Red Herring Prospectus (DRHP) available on the official website.
Belrise Industries Limited IPO Contact Details
Corporate Office
- Address:
Cello Platina, 501 & 502, 5th Floor, F.C. Road, Shivaji Nagar, Pune – 411005, Maharashtra, India
kaustubhp26.sg-host.com+2belriseindustries.com+2belriseindustries.com+2 - Email:
career@belriseindustries.com
Registered Office
- Address:
Plot No. D-39, MIDC Area, Waluj, Aurangabad – 431136, Maharashtra, India
Additional Contact Information
- Phone:
+91 20 9955 9922 01
kaustubhp26.sg-host.com - Email:
info@belriseindustries.com
Belrise Industries Limited IPO Registrar
The Registrar to the Belrise Industries Limited IPO is Link Intime India Private Limited. They are responsible for managing the allotment process, handling investor queries, and maintaining records of share transactions.
Registrar Contact Details
- Company Name: Link Intime India Private Limited
- Address: C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400083, Maharashtra, India
- Phone: +91-22-4918 6270
- Website: linkintime.co.in
Investors can use the registrar’s website to check the IPO allotment status by entering their PAN number or application ID. Additionally, the registrar provides facilities for address changes, ECS mandates, and other post-issue services.
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