Belrise Industries IPO fully subscribed on Day 2; NIIs lead with 2.66x bids
By Aditya Bhagchandani Published on May 22, 2025, 10:51 IST
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: IPO size : ₹2,150 crore (entirely fresh issue of 23.89 crore shares)
Price band : ₹85–₹90 per share
Minimum lot : 166 shares
Retail investment : ₹14,110 at lower band; suggested cutoff price investment: ₹14,940
Listing date (tentative) : May 28, 2025
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.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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