Next-Gen Power Shift: Badve Sons Drive Belrise into a Bold New Era with ₹2,150 Cr IPO
- BILKULONLINE
- By Rafat Quadri
Ahmedabad, May 18: What began in a 150 square foot shed with three machines, two workers, and a seed capital of ₹20,000 has today become a ₹7,484 crore automotive systems giant—Belrise Industries Limited. As the company gears up to launch its ₹2,150 crore Initial Public Offering (IPO) on May 21, the story of its founder, Shrikant Shankar Badve, stands out as a testament to grit, vision, and relentless entrepreneurship.
The IPO, with a price band of ₹85–₹90 per share, will remain open until May 23, with a listing planned on the BSE and NSE on May 28. The entire issue is a fresh offering of 23.89 crore equity shares, and proceeds will largely go towards debt reduction and general corporate purposes.
But beyond numbers lies the story of a first-generation entrepreneur who overcame systemic challenges to build one of India’s most respected automotive OEM suppliers.
A Journey Fuelled by Vision and Determination
“In 1988, I made a choice to build something of my own—not just for me, but for everyone who believed in perseverance over privilege,” reflects Shrikant Badve, Managing Director of Belrise Industries. “The early days were incredibly tough. No collateral meant no bank support, but I had belief. That belief is now Belrise.”
Badve’s journey began with manufacturing automotive fasteners and evolved over decades into a multinational company specializing in chassis systems, suspension parts, exhaust systems, polymer components, and even floriculture.
- Today, Belrise operates 17 manufacturing facilities across 10 Indian cities, with exports reaching Austria, Slovakia, UK, Japan, Thailand, China, and the US. The company supplies 29 major OEMs, including Bajaj Auto, Hero MotoCorp, Honda Motorcycle & Scooter India, Jaguar Land Rover, and Royal Enfield.
Leadership That Grew With the Company
The IPO comes at a time when Belrise is expanding both geographically and vertically. Executive Director Supriya Badve underlined the company’s technological edge:
“Over 15 years ago, we introduced industrial robotics. Today, we lead with fully integrated in-house systems—stamping to fabrication—all under one roof. It’s our people and our ability to adapt that defines Belrise.”
Sumedh Badve, President (Strategy), added, “What sets us apart is our innovation culture. We’re not just part of the automotive sector—we’re shaping its future, from e-mobility to intelligent systems and sustainable design.”
Swastid Badve, GM (Head Strategy), emphasized the importance of legacy and long-term vision, “We’re proud of where we started, but our eyes are set on what’s next—global expansion, smarter manufacturing, and becoming the preferred partner to OEMs worldwide.”
Rahul Ganu, CFO, said, “The IPO will help us significantly reduce debt and free up resources to invest in capacity building and R&D. We’re entering a new growth phase.”
Financials and Outlook
For FY24, Belrise clocked a 13.7% YoY revenue growth, reaching ₹7,484.24 crore, with a profit after tax of ₹310.88 crore. The IPO values the company at a P/E of 24.46 at the upper end, and the RoNW averaged 14.31% over the last three years.
The minimum bid lot is 166 shares, with allocation split as 50% for QIBs, 15% for non-institutional investors, and 35% for retail investors. Book-running lead managers include Axis Capital, HSBC Securities, Jefferies India, and SBI Capital Markets. The registrar is MUFG Intime India.
Legacy, CSR, and Future
What also defines Belrise is its deep social commitment. From girl child education to blood donation and wildlife conservation, Belrise has actively supported causes that matter.
“Our responsibility doesn’t end at the factory gate,” said Supriya Shrikant Badve, Executive Director of the company and a strong pillar for the HR team. “CSR is in our DNA. We build communities as much as we build chassis.”
As India’s auto sector transforms, Belrise Industries is positioned not just as a supplier, but as a partner in progress. And it all began with a young engineer, a borrowed space, and a dream.
Entire top management team of Belrise Industries, led by Shrikant Badve, Managing Director of the company accompanied with Nitin Kanuganti, Vice President of SBI Capital Markets, and Arjun Jani from Axis Capital Ltd, arrived in Ahmedabad on Saturday to engage with the media and announce the details of the upcoming IPO.
(Rafat Quadri can be reached at editorbilkul@gmail.com)
Kindly Like the links and Subscribe to our channel. Thanks.
https://youtube.com/shorts/z47zrlxqBDc?feature=share
https://youtube.com/shorts/mC1Mc7AY6fE?feature=share
https://youtube.com/shorts/x2TIyBPSXFQ?feature=share
https://youtube.com/shorts/iGaUWOXgMsI?feature=share