Belrise Industries shares list at 11% premium over IPO price. Should you ride this auto stock or hit the brakes?
Shares of Belrise Industries made a strong debut on the bourses Wednesday, listing at a premium of over 11% to its IPO price, following intense investor interest in the Pune-based auto components manufacturer’s Rs 2,150 crore offering.
The stock opened at Rs 100 on the NSE, reflecting an 11.11% gain over the issue price of Rs 90. On the BSE, it listed slightly lower at Rs 98.50, translating to a 9.44% premium.
Market buzz vs reality
Ahead of its debut, Belrise’s shares were commanding a Rs 28.5 premium in the grey market, implying a listing price of Rs 118.5, nearly 32% higher than the issue price. While actual gains fell short of grey market expectations, the stock still managed a healthy pop in a market that has recently turned more…
