The ₹2,150 crore initial public offering (IPO) of Belrise Industries Limited was fully subscribed on Day 2 of bidding, with overall subscription reaching 1.05 times as of 10:45 AM on May 22, 2025.
According to data from the stock exchanges, the Non-Institutional Investors (NII) category witnessed strong demand, being subscribed 2.66 times. Within this, bids from high-net-worth individuals (bNII) applying for more than ₹10 lakh came in at 2.84x, while small NIIs (sNII) bidding between ₹2 lakh to ₹10 lakh were subscribed 2.30x.
However, the Qualified Institutional Buyers (QIB) segment remained underwhelming, with only 0.43 times subscription so far. Retail Individual Investors (RIIs) also showed limited enthusiasm, subscribing 0.71 times their allocated quota.
IPO details:
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IPO size: ₹2,150 crore (entirely fresh issue of 23.89 crore shares)
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Price band: ₹85–₹90 per share
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Minimum lot: 166 shares
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Retail investment: ₹14,110 at lower band; suggested cutoff price investment: ₹14,940
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Listing date (tentative): May 28, 2025
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Allotment date: May 26, 2025
Lead Managers:
Axis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets are the book running lead managers. Link Intime is the registrar to the issue.
With one day left for bidding, market watchers expect increased QIB participation in the final hours to strengthen overall subscription numbers.
