Belrise Industries IPO: Check odds of getting shares, allotment dates, latest GMP & more

Belrise Industries IPO, which saw a solid response from investors during the bidding process, has now left investors wondering what are the odds of getting the allotment of shares after a stellar bidding for the issue. Interestingly, retail bidders stand the best chance of allotment for this issue.

The IPO of Belrise Industries fetched nearly 25.35  lakh applications. Net of the Rs 645 crore anchor book, the IPO of Belrise Industries fetched bids worth Rs 65,920 crore for its Rs 1,505 crore offering as the issue was overall booked a stellar 41.30 times.

On an individual basis, the quota for qualified institutional bidders (QIBs) was booked 108.35 times, fetching bids worth Rs 49.330.11 crore. The allocation for non-institutional investors (NIIs) was booked 38.33 times, attracting bids for Rs 13,088.46 crore for their allocation. Retail portion was booked 4.27 times, getting bids for Rs 3,398.97 crore for their allocation.

Here is the tentative odds allotment matrix in Belrise Industries IPO for the investors:

Big HNI category: one investor out of 10 investors will get 2,324 shares (Probability: 10 per cent)

Small HNI category: 1 investor out of 25 investors will get 2,324 shares (Probability: 4 per cent)

Retail category: 1 investor out of 4 investors will get 166 shares. (Probability: 25 per cent)

The IPO of Belrise Industries was open for bidding between May 21 and May 23. The Pune-based company had offered its shares in the fixed price band of Rs 85-90 per share with a lot size of 166 shares. The company raised Rs 2,150 crore via its primary offering, which was entirely a fresh share sale of up to 23,88,88,888 equity shares.

The oversubscription for the issue reflects strong confidence in potential listing gains, said Gaurav Garg at Lemonn Markets Desk. "Overall, the strong GMP and broad-based investor participation underscore positive market confidence in Belrise's future," he said.

Grey market premium (GMP) of Belrise Industries has remained firm following a decent response from investors, signaling a strong listing at the bourses. Last heard, the company was commanding a premium of Rs 23 in the unofficial market, indicating a listing pop of 25-26 per cent for the investors.

Axis Capital, HSBC Securities & Capital Markets, Jefferies India and SBI Capital Markets served as the book running lead managers of the Belrise Industries IPO, while MUFG Intime India (Link Intime) is the registrar for the issue. Allotment of the shares is likely to be finalized on Monday, May 26, while the shares may have their stock market listing on Wednesday, May 28.