IPO
Autocomp maker Belrise Industries’ Rs.2,150-Cr IPO subscribed 41.3 times
The INR 2,150 crore initial public offer of Pune-based automotive components maker Belrise Industries was subscribed 41.30 times. The category for Qualified Institutional Buyers (QIBs) received 108.35 times subscription while the quota for non-institutional investors got subscribed 38.33 times. The portion for Retail Individual Investors (RIIs) fetched 4.27 times subscription. Earlier, Belrise Industries raised INR 645 crore from anchor investors.The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component. The price band was fixed at INR 85-90 per share. The company intends to use proceeds for the payment debt.Axis Capital, HSBC Securities and Capital Markets (India) Pvt Ltd, Jefferies India and SBI Capital Markets are the book running lead managers to the issue.
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