Delhi-based iron and steel manufacturer Behari Lal Engineering is set to launch its initial public offering (IPO) for subscription on August 12. The company has fixed the price band for its shares at Rs 271-285 per equity share, aiming to raise Rs 208.62 crore.
Key IPO Dates and Structure
The Behari Lal Engineering IPO will open for investors on August 12 and close on August 14. The anchor book, a segment for institutional investors, will be open for a single day on August 11. Following the subscription period, the share allotment is expected to be finalized by August 17, with the shares likely to be listed on both the BSE and NSE on August 19.
The total issue size of Rs 208.62 crore comprises a fresh issue of shares worth Rs 93 crore and an offer-for-sale (OFS) of 73.2 lakh shares. Promoters from the Garg family and SG Tech Engineering, which holds a 10 percent stake, are the selling shareholders in the OFS segment. This current IPO size has been adjusted from an earlier proposal in the draft red herring prospectus (DRHP) filed in September 2025, which had envisioned a fresh issue of Rs 110 crore and an OFS of 78.54 lakh shares. SEBI approved the draft papers in December 2025.
Company Profile and Financial Performance
Behari Lal Engineering specializes in customized engineering solutions within the iron and steel manufacturing sector. Its product range includes metal rolls for rolling mills, engineering castings, forging ingots, and various carbon, alloy, and stainless steel bars. The company operates two manufacturing facilities in Punjab and states it is one of India's largest producers of metal rolls.
Financially, Behari Lal Engineering reported a profit of Rs 64.6 crore for the fiscal year ending March 2026, marking a 22 percent increase from Rs 53 crore in the preceding year. Revenue from operations also saw a rise of 5.1 percent, reaching Rs 534 crore from Rs 507.9 crore.
Utilization of IPO Proceeds
The company intends to allocate a significant portion of the net proceeds from the fresh issue towards expanding its operational capabilities. Approximately Rs 63 crore is earmarked for the purchase and installation of new equipment and machinery, associated civil works, and the setup of rooftop solar panels at its two manufacturing facilities. A smaller sum of Rs 57 lakh will be used for loan repayment, with the remaining funds directed towards general corporate purposes.
Investor Information
The IPO allocation reserves 50 percent of the offer for qualified institutional buyers (QIBs), 35 percent for retail investors, and the remaining 15 percent for non-institutional investors. Investors can bid for a minimum of 52 equity shares, and thereafter in multiples of 52 shares. Based on the upper end of the price band, the minimum investment for a retail investor will be Rs 14,820, while the maximum investment allowed for retail investors is Rs 1,92,660.
Emkay Global Financial Services and Systematix Corporate Services are serving as the book-running lead managers for the issue, with MUFG Intime India appointed as the registrar.