Behari Lal Engineering IPO to Hit Markets on August 12

 

Mumbai: Integrated iron and steel manufacturer Behari Lal Engineering Limited has announced the price band for its maiden Initial Public Offering (IPO) at ₹271 to ₹285 per equity share of face value ₹10. The public issue will open for subscription on August 12 and close on August 14, 2026.

Investors can bid for a minimum of 52 equity shares and in multiples thereof. The IPO comprises a fresh issue worth ₹93 crore along with an offer-for-sale (OFS) of up to 73.20 lakh equity shares by promoters, members of the promoter group and an investor selling shareholder.

The company plans to utilise the proceeds from the fresh issue to strengthen its manufacturing capabilities. Funds will be deployed towards the purchase and installation of new machinery at its two manufacturing facilities in Punjab, installation of rooftop solar power systems, partial repayment of borrowings and general corporate purposes.

The issue is being offered through the book-building process in accordance with SEBI regulations. Up to 50% of the net offer has been reserved for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Individual Investors (RIIs).

Established in 1995, Behari Lal Engineering is an integrated iron and steel manufacturing company specialising in customised engineering solutions. According to CRISIL, it is among India's largest manufacturers of metal rolls, catering to nearly 10-11.5% of the domestic demand during FY2026. The company manufactures metal rolls, engineering castings, alloy steel products and forging ingots for sectors including steel, power, mining, automobiles, infrastructure, defence and cement.

The company currently operates two manufacturing facilities at Mandi Gobindgarh, Punjab, and has recently begun construction of a third unit in Fatehgarh Sahib district. Its facilities are equipped with advanced manufacturing technologies, including CNC machining, vacuum degassing, heat treatment and rolling mills, enabling the production of customised, high-precision engineering components.

Behari Lal Engineering serves a diversified customer base of 1,825 customers and exports products to 21 countries across five continents. Its clientele includes companies such as BMW Industries Limited, Embross Autocomp Limited, Forge Auto International Limited and Hailstone Innovations Private Limited.

The company reported revenue from operations of ₹534.03 crore in FY2026, compared with ₹446.08 crore in FY2024, while net profit increased to ₹64.64 crore from ₹35.79 crore during the same period.

Emkay Global Financial Services Limited and Systematix Corporate Services Limited are the book-running lead managers to the issue, while MUFG Intime India Private Limited is the registrar. The company's equity shares are proposed to be listed on both the BSE and NSE.