Automotive component maker Belrise Industries files papers to raise Rs 2,150 crore via IPO <meta name="twitter:card" content="summary_large_image"> <meta name="twitter:site" content="@ManashjyotiS"> <meta name="twitter:title" content="Automotive component maker Belrise Industries files papers to raise Rs 2,150 crore via IPO"> <meta name="twitter:description" content="<p style="text-align: justify;">New Delhi: Automotive component maker <a href="https://economictimes.indiatimes.com/markets/ipos/fpos/automotive-component-maker-belrise-industries-files-papers-to-raise-rs-2150-crore-via-ipo/articleshow/115520361.cms?from=mdr" target="_blank" rel="noopener"><strong>Belrise Industries</strong> has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,150 crore through an initial public offering (IPO)</a>. The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).</p> <p style="text-align: justify;"><strong>ALSO READ: <a class="fw-bold" href="../moglix-acquires-khatema-fibres-to-expand-manufacturing-footprint-boost-production-capacity" target="_blank" rel="noopener">Moglix Acquires Khatema Fibres To Expand Manufacturing Footprint, Boost Production Capacity</a></strong></p> <p style="text-align: justify;">The company may consider raising up to Rs 430 crore through a pre-IPO placement. If this is carried out, the issue size will be reduced. As per the draft papers filed on Tuesday, the company intends to utilise proceeds worth Rs 1,618 crore for payment of debt. The company has a borrowing of Rs 2,463 crore in its books as of June 2024. Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles.</p> <p><img class="img-responsive" style="display: block; margin-left: auto; margin-right: auto;" title="sebi.jpeg" src="../storage/app/public/post/inner-photo/blobid1732190498469.jpg" alt="" width="454" height="256"></p> <div class="flex max-w-full flex-col flex-grow"> <div class="min-h-8 text-message flex w-full flex-col items-end gap-2 whitespace-normal break-words [.text-message+&]:mt-5" dir="auto" data-message-author-role="assistant" data-message-id="1b711203-560b-4d49-9a1a-cc583b04dcd8" data-message-model-slug="gpt-4o"> <div class="flex w-full flex-col gap-1 empty:hidden first:pt-[3px]"> <div class="markdown prose w-full break-words dark:prose-invert light"> <p style="text-align: center;"><span style="font-size: 8pt;"><em>Belrise Industries plans ₹2,150 crore IPO to repay debt, expand operations, and strengthen global automotive partnerships.</em></span></p> </div> </div> </div> </div> <div class="mb-2 flex gap-3 empty:hidden -ml-2"> <div class="items-center justify-start rounded-xl p-1 flex"> </div> </div> <p style="text-align: justify;"><strong>Company Reports 13.7 pc  Revenue Growth in FY24, Maintains Strong Partnerships with Global OEMs</strong></p> <p style="text-align: justify;">As of June 2024, it marketed its products both domestically and internationally, with operations extending to several markets, including Austria, Slovakia, the UK, Japan and Thailand. The company has a long-standing relationship with customers, including prominent multinational OEMs (original equipment manufacturers) such as Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors. It has 15 manufacturing facilities in eight states as of June 30, 2024.</p> <p style="text-align: justify;"><strong>ALSO READ: <a class="fw-bold" href="../rbi-fake-videos-warning" target="_blank" rel="noopener">ৰাজ্যপাল শক্তিকান্ত দাসৰ ভুৱা ভিডিঅ’ ছ’চিয়েল মিডিয়াত ভাইৰেল হৈ পৰিছে, কেন্দ্ৰীয় নাগৰিকক সকীয়াই দিছে বেংকে</a></strong></p> <p style="text-align: justify;">On the financial front, the company's revenue from operations rose 13.7 per cent to Rs 7,484.24 crore in FY24, from Rs 6,582.50 crore in the preceding financial year. Profit after tax was at Rs 310.88 crore in FY24 from Rs 313.66 crore in the previous fiscal. For the three months ended June 30, 2024, revenue from operations stood at Rs 1,780.97 crore and profit after tax stood at Rs 71.58 crore. Axis Capital, HSBC Securities and Capital Markets (India) Private Ltd, Jefferies India and SBI Capital Markets are the book-running lead managers to the issue.</p>"> <meta name="twitter:image" content="https://business-northeast.com/image-compress.php?imgpath=https://www.business-northeast.com/storage/app/public/post/feature-img/519451732190636.jpeg"> <meta property="og:image" content="https://business-northeast.com/image-compress.php?imgpath=https://www.business-northeast.com/storage/app/public/post/feature-img/519451732190636.jpeg">

Automotive component maker Belrise Industries files papers to raise Rs 2,150 crore via IPO

BNE News Desk ,

November 21, 2024

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New Delhi: Automotive component maker Belrise Industries has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,150 crore through an initial public offering (IPO). The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).

ALSO READ: Moglix Acquires Khatema Fibres To Expand Manufacturing Footprint, Boost Production Capacity

The company may consider raising up to Rs 430 crore through a pre-IPO placement. If this is carried out, the issue size will be reduced. As per the draft papers filed on Tuesday, the company intends to utilise proceeds worth Rs 1,618 crore for payment of debt. The company has a borrowing of Rs 2,463 crore in its books as of June 2024. Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles.

Belrise Industries plans ₹2,150 crore IPO to repay debt, expand operations, and strengthen global automotive partnerships.

Company Reports 13.7 pc Revenue Growth in FY24, Maintains Strong Partnerships with Global OEMs

As of June 2024, it marketed its products both domestically and internationally, with operations extending to several markets, including Austria, Slovakia, the UK, Japan and Thailand. The company has a long-standing relationship with customers, including prominent multinational OEMs (original equipment manufacturers) such as Bajaj Auto, Honda Motorcycle & Scooter India, Hero MotoCorp, Jaguar Land Rover and Royal Enfield Motors. It has 15 manufacturing facilities in eight states as of June 30, 2024.

ALSO READ: ৰাজ্যপাল শক্তিকান্ত দাসৰ ভুৱা ভিডিঅ’ ছ’চিয়েল মিডিয়াত ভাইৰেল হৈ পৰিছে, কেন্দ্ৰীয় নাগৰিকক সকীয়াই দিছে বেংকে

On the financial front, the company's revenue from operations rose 13.7 per cent to Rs 7,484.24 crore in FY24, from Rs 6,582.50 crore in the preceding financial year. Profit after tax was at Rs 310.88 crore in FY24 from Rs 313.66 crore in the previous fiscal. For the three months ended June 30, 2024, revenue from operations stood at Rs 1,780.97 crore and profit after tax stood at Rs 71.58 crore. Axis Capital, HSBC Securities and Capital Markets (India) Private Ltd, Jefferies India and SBI Capital Markets are the book-running lead managers to the issue.