Behari Lal Engineering Sets ₹271-285 IPO Price Band For ₹302 Crore Issue, Subscription Opens August 12

New Delhi: Engineering castings and alloy steel products manufacturer Behari Lal Engineering on Friday fixed a price band of Rs 271-285 per share for its Rs 302-crore initial public offering (IPO), which will open for subscription on August 12.

The three-day public issue will conclude on August 14, while the anchor investor bidding is scheduled for August 11, the company said in a public announcement.

At the upper end of the price band, the IPO is valued at about Rs 302 crore.

The offering comprises a fresh issue of equity shares worth up to Rs 93 crore and an Offer for Sale (OFS) of up to 73.20 lakh equity shares by existing shareholders.

Proceeds from the fresh issue will be utilised towards funding capital expenditure requirements, repayment or prepayment of certain borrowings, and general corporate purposes.

Half of the issue has been reserved for Qualified Institutional Buyers (QIBs), 15 per cent for Non-Institutional Investors (NIIs), and the remaining 35 per cent for retail investors.

Established in Punjab in 1995 as Behari Lal Ispat Pvt Ltd, the company was converted into a public limited entity in 2024 and renamed Behari Lal Engineering Ltd to reflect its expanded product portfolio and scale of operations.

The company manufactures engineering castings, alloy steel products and metal rolls catering to industries such as steel, power and heavy engineering.

It operates two integrated manufacturing facilities in Mandi Gobindgarh, Punjab -- comprising a steel melting shop and foundry, and a rolling mill division -- with in-house capabilities spanning design, testing and research and development.

The equity shares are proposed to be listed on the BSE and NSE on August 19.

Emkay Global Financial Services and Systematix Corporate Services are the book-running lead managers to the issue, while MUFG Intime India is the registrar. 

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