Belrise Industries Makes a Strong Debut on Stock Market

Belrise Industries Ltd, an automotive components manufacturer, saw its shares list with a significant premium on the stock market. The stock opened above the issue price and experienced strong investor demand, particularly from institutional buyers, during its initial public offering.

On Wednesday, Belrise Industries Ltd, a manufacturer of automotive components, debuted with significant growth on the stock market, listing at a premium of over 11% above its issue price of Rs 90.

Opening the trade at Rs 98.50, the stock surged by 9.44% on the BSE and later extended its gains to 14.66%, closing at Rs 103.20. At the NSE, the stock opened at Rs 100, marking an 11.11% premium.

The company's market valuation reached Rs 8,262.53 crore, showing strong demand during its initial public offering, which was subscribed 41.30 times. Belrise Industries offers a variety of safety-critical systems and engineering solutions for multiple vehicle types, maintaining relationships with major OEMs such as Bajaj Auto and Honda.

(With inputs from agencies.)