Belrise Industries has received the Securities and Exchange Board of India’s (SEBI's) approval to raise Rs 2,150 crore through an initial public offering (IPO). Rs 2,150 crore IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component.
The company intends to utilise proceeds worth Rs 1,618 crore for payment of debt. Axis Capital, HSBC Securities and Capital Markets (India), Jefferies India and SBI Capital Markets are the book-running lead managers to the issue.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles.
