The shares changed hands at an average price of ₹153.7 per share, which takes the total transaction value to ₹897 crore.
Buyers and sellers in the transaction are not immediately known.Sources indicate that the seller is Sumedh Tools Private Limited, which is part of the promoter group.
Speaking to CNBC-TV18, Sumedh Badve of Belrise Industries said that stake sale is to meet minimum public shareholding norm, promoter stake would have crossed 75% on targetted merger of two related entities.
Palasan is a $2 billion company and the opportunity from the agreement is huge. The company maintains mid-teen revenue growth guidance.Pune-based Belrise Industries, a key player in the auto components space, is optimistic about its growth outlook. The company expects its commercial vehicle revenue to double by FY27, led by expanding OEM partnerships and recent acquisitions.
Promoter Swastid Badve had earlier told CNBC-TV18 that commercial vehicles present a major opportunity for the company. He added that while commercial vehicle revenue currently forms a small portion of the overall business, it has already grown over 50% year-on-year in the first half of FY26.
Belrise currently works with five commercial vehicle OEMs and eight passenger vehicle OEMs.
Belrise Industries manufactures a wide range of safety-critical systems and engineering solutions for two-wheelers, three-wheelers, passenger vehicles, commercial vehicles, and agri-vehicles. Its customer base includes Bajaj, Honda, Hero, Jaguar Land Rover, Royal Enfield, VE Commercial Vehicles, Tata Motors, and Mahindra.
As per the September quarter shareholding pattern, promoters held a 73.01% stake in the company.
Belrise Industries shares ended Monday’s session 2.65% lower at ₹158. The stock has rallied close to 76% from its IPO price.
