Trilegal advised on the initial public offering of equity shares (IPO) by Belrise Industries Limited (Belrise Industries), comprising a fresh issue of equity shares aggregating to ₹21,500 million.
Belrise Industries is an automotive component manufacturing company offering a diverse range of safety critical systems and other engineering solutions. It specializes in precision sheet metal pressing and fabrication and has a diversified customer base globally, including Bajaj Auto, Jaguar Land Rover and Tata Motors. The IPO was oversubscribed 41 times and the equity shares saw ~11% listing premium.
The IPO proceeds will be used for repayment and/or prepayment of debt and general corporate purposes.
Trilegal advised a syndicate of book running lead managers, which comprised Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, Jefferies India Private Limited and SBI Capital Markets Limited.
The Trilegal Capital Markets team advising on the matter was led by Richa Choudhary and Murtaza Zoomkawala, Partners, and comprised Ritika Khare and Shivayana Balodia, Senior Associates; and Rainika Malhotra, Anushri Maskara, Siddhant Mishra, and Ritvik Mishra, Associates.
