Belrise Industries Restricted has submitted its Draft Pink Herring Prospectus (DRHP) to the Securities and Trade Board of India (SEBI) on Tuesday, November 19. The corporate goals to lift ₹2,150 crore by means of a book-built preliminary public providing (IPO), which contains a recent subject of fairness shares with a face worth of ₹5 per share.
The corporate plans to make use of the cash raised from the general public subject to fund its reimbursement or prepayment goals, in full or in components, of sure excellent borrowings taken by Belrise Industries. The remaining quantity can be used generally company functions, in keeping with the official submitting.
In line with the draft purple herring prospectus (DRHP), the corporate plans to allocate no more than 50 per cent to the Certified Institutional Patrons (QIBs) on a proportional foundation; out of that, Belrise Industries could allocate 60 per cent of the QIB portion to the anchor buyers. Not lower than 15 per cent can be obtainable for the Non-Institutional Traders (NIIs), and the remaining 35 per cent can be allotted to the retail investor section.
Axis Capital Restricted, HSBC Securities and Capital Markets (India) Non-public Restricted, Jefferies India Non-public Restricted, and SBI Capital Markets Restricted are the book-running managers for the general public subject, whereas Hyperlink Intime India Non-public Restricted is the registrar for the provide.
About Belrise Industries
Belrise Industries Restricted is an automotive authentic tools producer (OEM) components maker based mostly out of Pune, Maharashtra. Established in 1988, the corporate has a turnover of ₹7,484.2 crore, in keeping with its official web site.
Belrise Industries makes a speciality of making automotive programs for the two-wheeler, three-wheeler, and four-wheeler passenger and industrial car segments. The corporate’s product portfolio is diversified over metallic processing, polymer processing, floor therapy, mirror programs, suspension programs, foundry, house home equipment, safety {hardware}, e-mobility and floriculture.
The corporate additionally has greater than 15 manufacturing amenities throughout seven states in India and employs greater than 15,000 individuals. Belrise Industries additionally exports its components to the USA, Japan, the UK, and China.
