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Pune-based auto component manufacturer Belrise Industries has fixed the price band for its Rs 2,150 crore initial public offering (IPO) at Rs 85–90 per share. The IPO will open for subscription on May 21 and close on May 23, with anchor bidding scheduled for May 20.Investors can bid for a minimum of 166 equity shares and in multiples thereafter.This will be the third mainboard IPO of the current financial year, following Ather Energy and Borana Weaves.The entire issue comprises a fresh offer of 23.89 crore equity shares, with no offer-for-sale (OFS) component. Of the total offer, 50% is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.Belrise plans to utilise Rs 1,618.1 crore from the net proceeds to repay debt, with the remainder allocated for general corporate purposes. As of March 2025, the company had total consolidated borrowings of Rs 2,904.5 crore, including non-fund-based borrowings and accrued interest, according to its draft red herring prospectus (DRHP).In the nine months ended December 2024, Belrise reported a 17.5% decline in profit to Rs 245.5 crore, while revenue rose marginally by 0.9% to Rs 6,013.4 crore compared to the same period the previous year.Belrise manufactures safety-critical systems and engineering solutions for two-wheelers, three-wheelers, passenger cars, commercial vehicles, and agricultural vehicles. Its clients include Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors, and Mahindra.Also Read: Markets don’t lie! Stock tickers in Shenzhen, Mumbai expose Pakistan’s claims of victory in 4-day aerial fightAxis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets are the book-running lead managers, while Link Intime India is the registrar for the issue.The allotment for the Belrise Industries IPO is expected to be finalized on May 26, 2025. The shares are proposed to be listed on the BSE and NSE, with a tentative listing date of May 28, 2025.(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Amid rising heat on Türkiye and Azerbaijan over their support for Pakistan during the recent military conflict with India, business leaders from over 24 Indian states gathered in Delhi on Friday to take a final call on ending trade with both nations. BJP MP and Secretary General of the Confederation of All India Traders (CAIT), Praveen Khandelwal, said the meeting will lead to a clear decision. “They will make the final decision to end our trade relations with Türkiye and Azerbaijan,” he told ANI.He added that Indian traders completely support PM Modi. “Just like other citizens, traders stand with PM Modi. They will not do business with any country that is against India,” Khandelwal said.CAIT is India’s leading trade body, representing 80 million traders and over 40,000 trade associations nationwide. It is also the world’s largest MSME organisation focused on the non-corporate sector.Meanwhile, Delhi's Azadpur Mandi, Asia’s largest wholesale market for fruits and vegetables, has announced it will stop importing Turkish apples—a staple in its fruit supply chain. “We’ve decided to halt all new imports from Turkey. While existing orders will be honoured, there will be no future trade in Turkish apples or other produce,” Meetha Ram Kriplani, chairman of the Azadpur Fruit Mandi, told PTI on Friday. Kriplani said the decision came after reviewing the diplomatic situation. Turkish apples had long been a priority at the mandi, with imports reaching 1.16 lakh tonnes in 2024. However, recent political developments have left traders “disappointed,” he added. “We supported Turkish trade for years, but given the current scenario, we cannot continue. We’re already looking at alternative sources to meet our apple demand,” Kriplani said.Elsewhere in the national capital, trader associations have launched protests, demanding a blanket ban on Turkish goods. Leaders say Türkiye’s political stance has offended national sentiments.