Behari Lal Engineering IPO
Updated 11 Sept 2026, 5:03 pm.
Minimum investment (Retail)
₹14,820
1 lot · 52 shares at the upper price band
Price band
₹285
Latest GMP
Not yet quoted
Est. listing price
—
Issue size
₹301.62 Cr
GMP history
Each point is a recorded observation from the scheduled data sync.
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- Mainboard
- Price band
- ₹285
- Issue size
- ₹301.62 Cr
- Lot size
- 52
- Opens
- 12 Aug 2026
- Closes
- 14 Aug 2026
- Allotment
- 17 Aug 2026
- Listing
- 19 Aug 2026
- Est. listing price
- —
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- MUFG Intime India Pvt.Ltd.
- Minimum investment
- ₹14,820 (1 lot · 52 shares)
- Face value
- ₹10 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹93 Cr
- Offer for sale
- ₹209 Cr
- Listing at
- BSE, NSE
- Refunds
- 18 Aug 2026
- Shares credited
- 18 Aug 2026
- Promoter holding
- 88.51% before · 70.84% after
- Lead managers
- Emkay Global Financial Services Ltd., Systematix Corporate Services Ltd.
Offer documents & links
Subscription by category
As of 14 Aug 2026, 1:24 pm.
Total subscription
75.95x
Full issue details
Details as published for this issue, read 11 Sept 2026, 4:57 am. Verify against the RHP before applying.
IPO Details
| IPO Date | 12 to 14 Aug, 2026 |
|---|---|
| Listed on | Wed, Aug 19, 2026 |
| Face Value | ₹ 10 per share |
| Price Band | ₹271 to ₹285 |
| Issue Price | ₹285 per share |
| Lot Size | 52 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,05,83,158 shares (agg. up to ₹ 302 Cr) |
|---|---|
| Fresh Issue | 32,63,157 shares (agg. up to ₹ 93 Cr) |
| Offer for Sale | 73,20,001 shares of ₹ 10 (agg. up to ₹ 209 Cr) |
| Share Holding Pre Issue | 3,90,39,325 shares |
| Share Holding Post Issue | 4,23,02,482 shares |
| BSE Script Code / NSE Symbol | 544870 / BLEL |
| ISIN | INE1EEM01017 |
IPO Timetable
- IPO Open
- Wed, Aug 12, 2026
- IPO Close
- Fri, Aug 14, 2026
- Allotment
- Mon, Aug 17, 2026
- Refund
- Tue, Aug 18, 2026
- Credit of Shares
- Tue, Aug 18, 2026
- Listing
- Wed, Aug 19, 2026
Issue Reservation
| Investor Category | Shares | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB | 52,91,578 | 50.00% | NA |
| − Anchor Investor | 31,74,946 | 30.00% | NA |
| − QIB (Ex. Anchor) | 21,16,632 | 20.00% | NA |
| NII (HNI) | 15,87,474 | 15.00% | NA |
| − bNII > ₹10L | 10,58,316 | 10.00% | 1,453 |
| − sNII < ₹10L | 5,29,158 | 5.00% | 726 |
| Retail | 37,04,106 | 35.00% | 71,232 |
| Total | 1,05,83,158 | 100.00% | — |
Behari Lal Engineering IPO comprises a total issue size of 1,05,83,158 shares. Out of which, 52,91,578 (50.00%) are allocated to QIB , 15,87,474 (15.00%) allocated to NII 37,04,106 (35.00%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 52 | ₹14,820 |
| Retail (Max) | 13 | 676 | ₹1,92,660 |
| S-HNI (Min) | 14 | 728 | ₹2,07,480 |
| S-HNI (Max) | 67 | 3484 | ₹9,92,940 |
| B-HNI (Min) | 68 | 3536 | ₹10,07,760 |
Investors can bid for a minimum of 52 shares and in multiples thereof.
IPO Subscription Details
IPO Anchor Investors
| Bid Date | Tue, Aug 11, 2026 |
|---|---|
| Shares Offered | 31,74,946 |
| Anchor Portion (₹ Cr.) | 90.49 |
| Anchor lock-in period end date for 50% shares (30 Days) | Tue, Sep 15, 2026 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sat, Nov 14, 2026 |
Behari Lal Engineering IPO raises ₹ 90.49 crore from anchor investors . Behari Lal Engineering IPO Anchor bid date is August 11, 2026 .
IPO Anchor Investors List
About Behari Lal Engineering Ltd.
Incorporated in 1995, Behari Lal Engineering Ltd. is an integrated iron and steel manufacturing company specialising in customised engineering solutions. The company manufactures precision-engineered components for critical industrial applications, including metal rolls, engineering castings, alloy steel products, forging ingots and shafts.
Metal Rolls across grades such as alloy cast steel, alloy steel base adamite, graphitic steel, and S.G. iron pearlitic.
Engineering Castings ranging from 500 kg to 20 MT for industries such as steel, iron, mining, aggregate crushers, power, and sugar.
Alloy Steel Products, including carbon, alloy, and stainless steel bars in sections such as rounds, flats, hex, and round corner squares, with sizes from 6 mm to 230 mm, along with tool and valve steel.
Forging Ingots and Forged Shafts/Blocks for use as raw materials in open-die and closed-die forging applications.
As of March 31, 2026, the company has catered to 1825 domestic and international customers. Its customer base includes Amba Shakti Industries, BMW Industries, Shyam Metallics and Energy, Laxcon Steels, MSP Steel & Power, Jai Balaji Industries, Propel Industries, and Metso India, among others.
The manufacturing operations comprise two units in Mandi Gobindgarh, Punjab. As of May 31, 2026, the company's order book stood at Rs 1,785.69 million.
Competitive Strengths:
Long standing relationships with a large number of customers spread across a wide array of end-user industries
Diversified product portfolio catering to varied application industries
Strategically located Manufacturing Facilities with advanced equipment and robust overlapping processes
Experienced promoters and management team
Track record of financial performance and consistent growth
Company Financials (Restated)
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 367.87 | 295.98 | 262.08 |
| Total Income | 546.52 | 516.30 | 449.96 |
| Profit After Tax | 64.64 | 52.95 | 35.79 |
| EBITDA | 101.32 | 81.31 | 60.99 |
| NET Worth | 306.10 | 241.62 | 193.66 |
| Reserves and Surplus | 267.06 | 233.81 | 186.13 |
| Total Borrowing | 17.78 | 7.58 | 41.21 |
| Amount in ₹ Crore |
Behari Lal Engineering Ltd.'s revenue increased by 6% and profit after tax (PAT) rose by 22% between the financial year ending with March 31, 2026 and March 31, 2025.
Recently Listed IPOs in Iron & Steel Products
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Rajputana Stainless Ltd. | Mainboard | ₹254.98 Cr | ₹122 | 21.1 | ₹113.03 | -7.35% | ₹186.70 |
| VMS TMT Ltd. | Mainboard | ₹148.50 Cr | ₹99 | 22.24 | ₹99.65 | +0.66% | ₹44.09 |
| Anubhav Plast Ltd. | SME | ₹24.00 Cr | ₹80 | 10.67 | ₹76.00 | -5.00% | ₹46.00 |
| Kasturi Metal Composite Ltd. | SME | ₹17.61 Cr | ₹64 | 23.59 | ₹63.16 | -1.31% | ₹52.01 |
| Shri Kanha Stainless Ltd. | SME | ₹46.28 Cr | ₹90 | 16.23 | ₹83.60 | -7.11% | ₹22.80 |
| Mittal Sections Ltd. | SME | ₹52.91 Cr | ₹143 | 31.15 | ₹108.70 | -23.99% | ₹24.90 |
| M P K Steels (I) Ltd. | SME | ₹25.74 Cr | ₹79 | 9.04 | ₹83.50 | +5.70% | ₹95.00 |
View More »
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirement for purchase and installation of new equipment / machinery (including computers, printers and computer peripherals) along with civil work for such installation at Manufacturing Facility 1 | 19.59 |
| 2 | purchase and installation of new roof-top solar panels at Manufacturing Facility 1 | 3.40 |
| 3 | purchase and installation of new equipment / machinery along with civil work for such installation at Manufacturing Facility 2 | 36.65 |
| 4 | purchase and installation of new roof-top solar panels at Manufacturing Facility 2 | 3.40 |
| 5 | Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company | 0.57 |
| 6 | General Corporate Purposes | 19.06 |
| 7 | Issue Expenses | 31.97 |
| Total | 114.64 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 23.60% |
| ROCE | 27.11% |
| Debt/Equity | 0.06 |
| RoNW | 21.12% |
| PAT Margin | 12.10% |
| EBITDA Margin | 18.97% |
| NAV | 78.41 |
| Price to Book Value | 3.63 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 16.56 | 15.28 |
| P/E (x) | 17.21 | 18.65 |
| Market Cap at Offer Price | ₹1,113Cr. | ₹2,124.43 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 88.51% | 70.84% |
| Public | 11.49% | 29.16% |
| Total | 100% | 100% |
Company Promoters: Parkash Chand Garg, Rajesh Garg, Dinesh Garg, Lovlish Garg and Bhuvnesh Garg.
Offer For Sale - Selling Shareholders
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| Rajesh Garg | Promoter | 19,43,623 | 55.39 |
| Lovlish Garg | Promoter | 3,50,000 | 9.98 |
| Yogita Garg | Promoter | 21,43,623 | 61.09 |
| Dinesh Kumar Garg (HUF) | Promoter | 1,50,000 | 4.28 |
| SG Tech Engineering Pvt.Ltd. | Corporate | 27,32,755 | 77.88 |
| Total | — | 73,20,001 | 208.62 |
Behari Lal Engineering IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 9 | 1 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 222.04 | 15,16,633 | 33,67,52,156 |
| NII | 167.95 | 15,87,474 | 26,66,13,412 |
| bNII (> ₹10L) | 162.29 | 10,58,316 | 17,17,57,300 |
| sNII (< ₹10L) | 179.26 | 5,29,158 | 9,48,56,112 |
| Retail | 54.12 | 37,04,105 | 20,04,62,756 |
| Total | 118.07 | 68,08,212 | 80,38,28,324 |
The Behari Lal Engineering IPO is subscribed 118.07 times on August 14, 2026 6:54:44 PM (Day 3). The public issue subscribed 54.12 times in the retail category, 222.04 times in the QIB category, and 167.95 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 33,66,853
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission) | 17.11 |
| 2 | Brokerage, selling commission, bidding charges, processing fees for the Members of the Syndicate, Registered Brokers, SCSBs, RTAs and CDPs, Sponsor Banks | 1.07 |
| 3 | Fees payable to the Registrar to the Offer | 2.49 |
| 4 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 2.97 |
| 5 | Printing and stationery | 0.58 |
| 6 | Advertising and marketing expenses | 2.60 |
| 7 | Fee payable to legal counsel, the statutory auditor, independent chartered engineers, Industry report provider and other advisors | 4.27 |
| 8 | Miscellaneous | 0.88 |
| Total | 31.97 |
Listing Day Trading Information
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹ 285.00 | ₹ 285.00 |
| Open | ₹ 458.00 | ₹ 465.00 |
| Low | ₹ 458.00 | ₹ 458.70 |
| High | ₹ 537.35 | ₹ 537.00 |
| Last Trade | ₹ 502.55 | ₹ 502.20 |
Check IPO Performance…
IPO Registrar
MUFG Intime India Pvt.Ltd.
022-49186000
beharilalengineering.ipo@in.mpms.mufg.com
IPO Lead Manager(s)
Emkay Global Financial Services Ltd.
Systematix Corporate Services Ltd.
Contact Details
Behari Lal Engineering Ltd. Address
Village Salani
Amloh Road
Mandi Gobindgarh
Fatehgarh Sahib, Punjab , 147301
+91 17655 20694
cs@beharilalgroup.co
Behari Lal Engineering IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Newly listed Shiprocket, Behari Lal Engineering post Q1 results; here’s how shares reacted
Fortune India · 8 Sept 2026
Stocks to Watch Today, September 8, 2026: Garuda Construction & Engineering, PVR Inox, Behari Lal Engineering, BCPL Railway Infrastructure and Symphony
scanx.trade · 8 Sept 2026
Behari Lal Engineering Reports Q1 Net Profit of ₹19.2 Crore, Up From ₹15.4 Crore YoY
Sahi · 8 Sept 2026
Behari Lal Engineering Share Price Rises 6% on Day 2 After Delivering 76% Returns on Debut: Listed at Rs 458
Univest · 20 Aug 2026
Shiprocket and Behari Lal Engineering IPOs See Massive Demand; Anil Singhvi Outlines Listing Day Strategies
Zee Business · 20 Aug 2026
Behari Lal Engineering IPO listing date today. Here's what GMP, experts signal ahead of debut
Livemint · 19 Aug 2026
Behari Lal Engineering shares surge 78% on debut, overtake BCCL as 2026’s top-performing IPO
Fortune India · 19 Aug 2026
