Belrise IPO: Auto component maker Belrise Industries has a good listing. Today it has entered BSE at Rs 98.50 and NSE at Rs 98.50, that is, IPO investors have got a listing gain of about 11 per cent. The company has raised Rs 2150 crore through this IPO. Prior to the issue, the promoter holdings in the company were 99.80 per cent. After the issue, this holding has come down to 73 percent.
IPO money will be used in re-payment and pre-payment of loans of Rs 1618 crore. Apart from this, these money will also be used in normal corporate objectives. This IPO is full 43 times. Its QIB portion is 113 times and the retail share is 4.5 times.
75 percent money received from IPO will be used to repay the debt
Talking about the company’s functioning and further plans after the list, the company’s managing director Srikanth Shankar Badway and Promoter Sumedh Srikanth Badway said that the IPO full fresh issue. The company has all the money. 75 percent of the money received from this IPO will be used to repay the debt. 25 percent of the money will be used for normal corporate purpose.
2 wheeler will be more focused on the industry
The management says that there will be more focus on 2 wheeler industry. Further 4 wheelers and CV will focus. A Japanese company has been acquired. Acquisition will further increase business capacity. The company’s listing is at a discount against the industry. The company has received great response in the IPO. The focus of the company will remain on the value.
The company expects good growth ahead
The management of Bellariz Industries further said that further growth of the company is expected. Growth will increase according to market growth. There will be benefit of increase in rural demand. The company’s orderbook is constantly strengthened. The company is getting all the payment on time. The management further said that the work of the company is in the frame, not in replacement. 4 are already working in wheelers. Will focus more in the premium segment.
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What does Belrise Ind do
Belarize Industries makes components for automotive. The company also makes components for the White Goods segment. Its product portfolio includes metal and casting parts. It also produces polymer components, sepension and mirror systems.
