Shares of Belrise Industries will make their debut on Wednesday after having seen bidding over 40 times, indicating strong interest from investors. The allotment for Belrise Industries was completed on Monday, May 26, and investors who have received the shares will be hoping for a bumper debut for the public issue.

The company planned to raise Rs 2,150 crore through the IPO, which was entirely a fresh issue of 23.89 crore equity shares.

Belrise Industries IPO received a good response from all types of investors. By the end of the three-day bidding period on May 23, it was subscribed 43.14 times. The retail category was subscribed 4.52 times, while qualified institutional buyers (QIBs) booked 112.63 times the shares reserved for them. Non-institutional investors (NIIs) showed solid interest too, with a subscription of 40.58 times.

The price band for the IPO was set between Rs 85 and Rs 90 per share.

LISTING DATE AND GMP

The grey market premium (GMP) has fallen after increasing in the past few days. As of the morning of May 28, the last reported GMP for Belrise Industries IPO was Rs 21.

With the upper price band at Rs 90, the estimated listing price is around Rs 111 per share. This means the shares could list at a premium of about 23.33% over the issue price, depending on market conditions.

Belrise Industries, formerly known as Badve Engineering, was established in 1988. The company is a key supplier of automotive components in India. It manufactures sheet metal parts, casting components, polymer products, suspension systems, and mirror assemblies. These parts are used in two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agricultural vehicles.