New Delhi, May 28 (H.S.): Automotive parts manufacturer Belrise Industries made an impressive debut in the stock market today, initially exciting its IPO investors. The shares were issued at ₹90, opening at ₹98.50 on both BSE and NSE, which marked an 11% premium. They briefly rose to ₹102.40 but soon faced profit-booking pressure. By 10:30 AM, shares were trading at ₹93.31, reflecting a modest gain of 3.68%. The company’s ₹2,150 crore IPO, open for subscription from May 21 to 23, saw overwhelming investor response, with an overall subscription rate of 43.14 times.

The QIB segment was notably oversubscribed at 112.63 times, while the NII portion was 40.58 times, and retail investors subscribed 4.52 times. A total of 23,88,88,888 new shares with a face value of ₹5 were issued. The raised funds will aid in repaying debts, fulfilling working capital needs, and general corporate purposes. Financially, the company has shown resilience with minor fluctuations. It reported a net profit of ₹307.24 crore for the financial year 2021-22, which increased to ₹356.70 crore in 2022-23, followed by a slight decline to ₹352.70 crore in 2023-24, with significant revenue growth.

Hindusthan Samachar / Jun Sarkar