Today, May 28, is the date of Belrise Industries’ initial public offering. Analysts predict a respectable share debut in the Indian stock market ahead of Belrise Industries’ IPO GMP today.
IPO Listing for Belrise Industries:
Following the completion of its initial public offering (IPO), Belrise Industries shares are scheduled to debut on the Indian stock market today. Today, May 28, is the date of Belrise Industries’ initial public offering.
The public offering, valued at ₹2,150 crore, was available from May 21 to May 23. Belrise Industries’ IPO listing date is May 28, and the IPO allocation was set on May 27. The BSE and NSE stock markets will both list Belrise Industries’ shares.
Investors anticipate the Belrise Industries IPO listing price by tracking changes in the grey market premium prior to today’s IPO listing. Analysts predict that Belrise Industries will list its shares today, according to the IPO GMP.
Today’s Belrise Industries IPO GMP
In the unlisted market, Belrise Industries’ shares are displaying a bullish trend and a positive grey market premium (GMP). According to stock market watchers, Belrise Industries’ IPO GMP is ₹24 per share ahead of the share listing today.
This indicates that Belrise Industries’ shares are trading ₹24 more on the gray market than their issue price of ₹90 per.
The IPO listing price of Belrise Industries
The expected listing price of Belrise Industries IPO shares is ₹114 per share, which is 25% more than the IPO price of ₹90 per share, taking into account the company’s IPO GMP today.
Following high demand for its IPO, analysts also anticipate that Belrise Industries’ shares will list at a respectable premium.
Belrise Industries’ expected listing price is between 20 and 25 percent more than the ₹90 issue price. Investor interest is still high. Belrise’s wide range of products, focus on the EV and commercial vehicle markets, and alliances with OEMs are what are fueling this excitement,” stated Mahesh M. Ojha, AVP-Research and Business Development at Hensex Securities Pvt Ltd.
Prashanth Tapse, Senior VP Research and Research Analyst at Mehta Equities Ltd., predicts a listing premium of 20% to 25% above the issue price due to the strong oversubscription and the current market attitude.
The company’s solid fundamentals and robust subscription numbers support this expectation. By providing shares at a fair price, Belrise has drawn interest from investors and established itself as a desirable prospect in the car manufacturing industry. The company’s dominant position in the two-wheeler metal components market in India is demonstrated by its around 24% market share. Belrise has also shown steady and robust revenue growth, which strengthens its allure for investors, according to Tapse.
Details about Belrise Industries’ IPO
The Belrise Industries initial public offering (IPO) subscription period ran from Wednesday, May 21, to Friday, May 23. Belrise Industries’ IPO listing date is today, May 28, and the IPO allocation was concluded on May 26. The BSE and NSE will list Belrise Industries’ shares.
Belrise Industries’ ₹2,150-crore IPO was a brand-new offering of 23.89 crore equity shares. A price range of ₹85 to ₹90 per share was used to raise the money.
The IPO of Belrise Industries was extremely well-received, as seen by the 41.30 subscriptions made overall. Retail subscribers subscribed 4.27 times, Qualified Institutional Buyers (QIBs) subscribed 108.35 times, and Non Institutional Investors (NII) subscribed 38.33 times for the public offering.
The IPO registrar is Link Intime India Private Ltd, and the book running lead managers for the Belrise Industries IPO are Axis Capital, HSBC Securities & Capital Markets Pvt Ltd, Jefferies India, and SBI Capital Markets.
