Belrise Industries Limited, established in 1996 and formerly known as Badve Engineering, is a leading automotive components manufacturer in India. The company specializes in safety-critical and engineering solutions for two-wheelers, three-wheelers, and four-wheelers, offering a wide range of products such as chassis systems, exhaust systems, polymer components, and suspension systems. Belrise Industries is launching a ₹2,150 crore IPO, consisting entirely of a fresh issue, with proceeds primarily earmarked for debt reduction and general corporate purposes.
₹23
₹90
₹100
Expert Opinions
Belrise Industries IPO is drawing strong attention amid positive sentiment for India’s automotive sector, supported by the company’s robust financials and diversified product portfolio. Belrise’s strengths include its powertrain-agnostic engineering solutions, long-standing relationships with major OEMs, and a significant export presence, with over 15 manufacturing plants and a 24% market share in two-wheeler metal components.
However, the company faces challenges such as moderate profit margins (PAT margin 4.15% in FY2024), exposure to shifts in EV adoption, and ongoing regulatory and tax-related risks. For FY2024, Belrise posted a Return on Equity of 14.18%, ROCE of 14.83%, and a Net Asset Value of ₹35.94 per share, reflecting steady but not extraordinary capital efficiency. From a long-term perspective, Belrise’s focus on debt reduction, capacity expansion, and technological innovation positions it well to benefit from the evolving automotive landscape, though investors should monitor execution risks and sector transitions closely.
Investor Considerations
Belrise Industries IPO has shown consistent performance, with FY2024 revenue rising to ₹7,555.67 crore and a PAT margin of 4.15%, indicating stable profitability and operational scale. The company’s fundamentals are supported by an EBITDA margin of 12.54%, Return on Equity (ROE) of 14.18%, and a Net Asset Value (NAV) of ₹35.94, while the debt/equity ratio stands at 0.97-reflecting moderate leverage and effective capital management.
The Indian automotive sector is poised for strong growth, projected at an 8.8% CAGR through 2034, driven by rising EV adoption, government incentives, and expanding domestic demand. Belrise’s growth prospects are bolstered by its diversified product portfolio, expanding presence in EV components, and strong OEM relationships. Key risks include moderate profit margins, exposure to sector shifts, regulatory changes, and execution challenges. While short-term volatility is possible, long-term investors may benefit if the company successfully adapts to industry trends and maintains prudent financial discipline.
| Date | GMP | Trend |
|---|---|---|
| 27 May 2025 19.10 | ₹23 | Down |
| 26 May 2025 11.33 | ₹25 | --- |
| 25 May 2025 11.09 | ₹25 | Up |
| 24 May 2025 11.07 | ₹23 | --- |
| 23 May 2025 17.48 | ₹23 | Up |
| 22 May 2025 18.52 | ₹20 | Up |
| 21 May 2025 18.34 | ₹15 | --- |
| 20 May 2025 19.27 | ₹15 | Up |
| 19 May 2025 10.51 | ₹5 | Down |
| 18 May 2025 12.09 | ₹15 | --- |
| 17 May 2025 11.36 | ₹15 | --- |
| 16 May 2025 11.26 | ₹15 | --- |
FAQs
The Grey Market Premium showed moderate accuracy in predicting Belrise Industries IPO’s listing performance. While the GMP of ₹23 predicted a premium of 25.56% over the issue price, the stock delivered a more modest gain of 11.11%. With a prediction error of 11.50%, the GMP correctly predicted the positive listing direction but significantly overestimated the magnitude of gains, demonstrating partial reliability as a directional indicator in this case.
Belrise Industries IPO Current GMP is ₹23.
Belrise Industries IPO Expected Returns is 25.55%.
Belrise Industries IPO estimated listing price is ₹113.