Belrise Acquires H-One India to Expand Capabilities Ahead of IPO

Belrise Industries Limited has completed the acquisition of H-One India Private Limited, a subsidiary of Japan-based H-One Co., Ltd. The move is part of Belrise’s strategy to expand its manufacturing and design capabilities in the Indian automotive sector.

H-One India designs and manufactures high-tensile steel components and develops high-tensile tools for two-wheeler and four-wheeler vehicles. These components are used to reduce vehicle weight while meeting safety and environmental standards.

The acquisition will allow Belrise to serve a wider customer base, including Indian and Japanese original equipment manufacturers (OEMs). It will also support product diversification within existing customer accounts.

Belrise plans to integrate H-One India’s two manufacturing units in North India into its operations. The company aims to improve production capacity and logistical operations through this integration.

X-B4 Advisory and Desai & Diwanji advised Belrise on the transaction.

Belrise, established in 1996, manufactures automotive components for two-wheelers, three-wheelers, four-wheelers, commercial vehicles, and agricultural vehicles. It operates 15 manufacturing facilities in India. As of the financial year ending March 31, 2024, Belrise held a 24% market share in the two-wheeler metal components segment and reported operational revenue of INR 74,842.41 million.

Belrise has filed a draft red herring prospectus with the Securities and Exchange Board of India for a proposed initial public offering, subject to regulatory and market conditions.