Global Materials | Industrials | Commodities

Rahul Jain

Over 20 years of sell-side research experience across Global Metals & Mining, Cement, Industrials, and Commodities. Extensive first-hand mine and plant visits spanning India, Australia, China, the US, and the UK.
Hundreds of buy-side engagements across major global financial hubs in Asia, North America, and Europe. Also led a comprehensive client tour of China to deepen industry understanding.

Focused on fundamentals-driven analysis including earnings modeling, cost structures, and valuations using DCF and relative multiples. Global commodity cycles, supply-demand trends, and macro factors are integrated into sector calls. Research prioritizes inflection points from price, cost, and policy shifts, using a disciplined bottom-up approach supported by top-down macro screening.

Belrise Industries IPO - RHP Updates & Thoughts on Peer Comp and Valuation

Belrise Industries IPO Trading - Robust Insti Demand; Leads Recent Listings

Equity Bottom-Up

<ul>
<li>Belrise Industries, founded by the Badve family, is a leading auto component maker launching its Rs2,150 crore IPO from May 21–23, 2025, at a price band of Rs85–90.</li>
<li>It supplies key chassis and metal parts to top OEMs like Bajaj Auto, Hero MotoCorp, and HMSI, playing a critical role across ICE and EV platforms.</li>
<li>While most proceeds are earmarked for debt repayment, high working capital needs suggest leverage could rebuild as the business scales.</li>
</ul>


Belrise Industries, founded by the Badve family, is a leading auto component maker launching its Rs2,150 crore IPO from May 21–23, 2025, at a price band of Rs85–90.
It supplies key chassis and metal parts to top OEMs like Bajaj Auto, Hero MotoCorp, and HMSI, playing a critical role across ICE and EV platforms.
While most proceeds are earmarked for debt repayment, high working capital needs suggest leverage could rebuild as the business scales.


Belrise Industries IPO: Strategic OEM Partner, Deleveraging Move Faces Structural Headwinds