Belrise Industries, in its Red Herring Prospectus (RHP), has stated that it will utilise the net proceeds from the issue towards funding the repayment/pre-payment, in full or in part, of certain outstanding borrowings availed by the company, as well as for general corporate purposes.
Following the closure of the subscription window, the basis of allotment of Belrise Industries shares is likely to take place on Monday, May 26, 2025, with the shares being credited to demat accounts on Tuesday, May 27, 2025.
Ahead of the opening of the public offering, Belrise Industries has already raised ₹645 crore from anchor investors in a bidding that concluded on Tuesday, May 20.
The story "Belrise Industries IPO invites bids: GMP up 17%; should you subscribe?" has 1015 words across 43 sentences, which will take approximately 5 - 9 minutes for the average person to read.
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