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IPO Open

Wed, Aug 12, 2026

IPO Close

Fri, Aug 14, 2026

Price Band

₹271 to ₹285

Market Cap (Pre-IPO)

₹1,205.62 Cr

IPO Details

  • IPO Date
    12 to 14 Aug, 2026
  • Listing Date
    Wed, Aug 19, 2026
  • Face Value
    ₹10 per share
  • Price Band
    ₹271 to ₹285
  • Lot Size
    52 Sharess
  • 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

IPO Timetable (Tentative)

  • IPO Open
    Wed, Aug 12, 2026
  • Allotment
    Mon, Aug 17, 2026
  • Credit of Shares
    Tue, Aug 18, 2026
  • IPO Close
    Fri, Aug 14, 2026
  • Refund
    Tue, Aug 18, 2026
  • Listing
    Wed, Aug 19, 2026

Issue Reservation

Investor Category Shares
QIB Not more than 50% of the Offer
Retail Not less than 35% of the Offer
NII Not less than 15% of the Offer

IPO Lot Size

Investors can bid for a minimum of 52 shares and in multiples thereof.

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 3,484 ₹9,92,940
B-HNI (Min) 68 3,536 ₹10,07,760

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)

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. (Amount in ₹ Crore)

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

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Rajputana Stainless Ltd. Mainboard ₹254.98 Cr ₹122 21.1 ₹113.03 -7.35% ₹152.85
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Anubhav Plast Ltd. SME ₹24.00 Cr ₹80 10.67 ₹76.00 -5.00% ₹51.50

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • # 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
    19.50
  • 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
  • Total
    63.61

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

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. ₹1,205.62 Cr
  • 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%
Public 11.49%
Total 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

IPO Registrar

MUFG Intime India Pvt.Ltd.

  • 022-49186000
  • beharilalengineering.ipo@in.mpms.mufg.com
  • Visit Website

IPO Lead Manager(s)

  1. Emkay Global Financial Services Ltd.
  2. Systematix Corporate Services Ltd.

Lead Manager Reports

  • Lead Manager Performance Summary
  • Lead Manager Performance Tracker

Contact Details

Behari Lal Engineering Ltd. Address
Village Salani
Amloh Road
Mandi Gobindgarh
Fatehgarh Sahib, Punjab, 147301

IPO FAQs

Behari Lal Engineering IPO is a main-board IPO of 1,05,83,158 equity shares of the face value of ₹10 aggregating up to ₹302 Crores. The issue is priced at ₹271 to ₹285. The minimum order quantity is 52.

The IPO opens on Wed, Aug 12, 2026, and closes on Fri, Aug 14, 2026.

MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Angel One customers can apply online in Behari Lal Engineering IPO using UPI as a payment gateway. Angel One customers can apply in Behari Lal Engineering IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Behari Lal Engineering IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Behari Lal Engineering IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Angel One IPO Application Process Review for more detail.

The Behari Lal Engineering IPO opens on Wed, Aug 12, 2026 and closes on Fri, Aug 14, 2026.

Behari Lal Engineering IPO lot size is 52, and the minimum amount required for application is ₹14,820.

You can apply in Behari Lal Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Behari Lal Engineering IPO will be done on Monday, August 17, 2026, and the allotted shares will be credited to your demat account by Tue, Aug 18, 2026. Check the Behari Lal Engineering IPO allotment status.

The Behari Lal Engineering IPO listing date is not yet announced. The tentative date of listing is Wed, Aug 19, 2026.

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