Behari Lal Engineering IPO
Bookbuilding IPO | ₹302.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Wed, Aug 12, 2026
IPO Close
Fri, Aug 14, 2026
Price Band
₹271.00 to ₹285.00
Market Cap (Pre-IPO)
₹1,205.62 Cr
IPO Details
| IPO Date | Aug 12, 2026 to Aug 14, 2026 |
| Listing Date | Tentative: Aug 19, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹271.00 to ₹285.00 |
| Lot Size | 52 Shares (Minimum: ₹14,820.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹302.00 Crores |
| Total Shares Offered | 10,583,158 shares |
| Fresh Issue | 3,263,157 shares |
| Offer For Sale | 7,320,001 shares |
Behari Lal Engineering IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| NII Shares Offered | Not less than 15% of the Offer |
Behari Lal Engineering 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 | ₹192,660 |
| S-HNI (Min) | 14 | 728 | ₹207,480 |
| S-HNI (Max) | 67 | 3,484 | ₹992,940 |
| B-HNI (Min) | 68 | 3,536 | ₹1,007,760 |
Behari Lal Engineering Financial Information (Restated Consolidated)
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.
| 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 ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 23.60% |
| ROCE (Return on Capital Employed) | 27.11% |
| Debt/Equity | 0.06 |
| RoNW (Return on Net Worth) | 21.12% |
| PAT Margin (Profit After Tax Margin) | 12.10% |
| EBITDA Margin | 18.97% |
| Price to Book Value | 3.63 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 16.56 | 15.28 |
| P/E (x) | 17.21 | 18.65 |
Company Overview
Behari Lal Engineering Ltd. – Company Overview
- Behari Lal Engineering Ltd. is an integrated iron and steel manufacturing company specializing in customised engineering solutions and precision-engineered components.
- The company manufactures products for critical industrial applications across steel, mining, power, sugar, iron, and engineering industries.
- Product Portfolio:
- Metal Rolls
- Engineering Castings
- Alloy Steel Products
- Forging Ingots
- Forged Shafts & Blocks
- Its engineering castings range from 500 kg to 20 MT, while its alloy steel products include carbon, alloy, stainless, tool, and valve steels in various sizes and sections.
- As of March 31, 2026, the company had served 1,825 domestic and international customers, including Amba Shakti Industries, BMW Industries, Shyam Metallics and Energy, MSP Steel & Power, Jai Balaji Industries, Propel Industries, and Metso India.
- The company operates two manufacturing units in Mandi Gobindgarh, Punjab.
- As of May 31, 2026, the company's order book stood at ₹1,785.69 million.
Company 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
Use of Proceeds
| 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 | |
| Total | 63.61 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Behari Lal Engineering IPO Peer Comparison
Behari Lal Engineering peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Behari Lal Engineering Ltd. | 16.56 | 16.56 | 78.41 | - | 21.12 | - | Standalone |
| Jayaswal Neco Industries Ltd. | 4.77 | 4.77 | 29.26 | 18.48 | 16.39 | - | Standalone |
| AIA Engineering Ltd. | 136.11 | 136.11 | 859.98 | 34.43 | 15.53 | - | Consolidated |
| Steelcast Ltd. | 8.58 | 8.58 | 39.03 | 37.99 | 21.89 | - | Standalone |
| RHI Magnesita India Ltd. | -18.54 | -18.54 | 172.42 | - | -10.81 | - | Consolidated |
| Vardhman Special Steel Ltd. | 13.15 | 13.13 | 132.11 | 23.19 | 9.59 | - | Consolidated |
| IFGL Refractories Ltd. | 4.81 | 4.81 | 163.00 | 43.46 | 7.93 | - | Consolidated |
| Kennametal India Ltd. | 46.82 | 46.82 | 340.02 | 62.02 | 13.70 | - | Standalone |
Quick Info
| Sector | manufacturing and industrial |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,205.62 Cr |
Important Dates
| IPO Open | Aug 12, 2026 |
| IPO Close | Aug 14, 2026 |
| Allotment Date | Aug 17, 2026 |
| Credit to Demat | Aug 18, 2026 |
| Listing Date | Tentative: Aug 19, 2026 |
Lead Manager(s)
Emkay Global Financial Services Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹301.62 crores.
- Issue Structure: A combination of fresh issue of 0.33 crore shares aggregating to ₹93.00 crores and offer for sale of 0.73 crore shares aggregating to ₹208.62 crores.
- IPO Dates: The issue opens on August 12, 2026 and closes on August 14, 2026.
- Allotment Date: The allotment is expected to be finalized on August 17, 2026.
- Listing Details: The shares are proposed to be listed on both National Stock Exchange of India and BSE Limited on August 19, 2026.
- Issue Price Band: ₹271 to ₹285 per equity share.
- Lot Size: 52 shares per lot.
- Retail Investment Requirement: Minimum 1 lot (52 shares) amounting to approximately ₹14,820 (at the upper price band).
This IPO offers investors an opportunity to participate in the engineering and industrial manufacturing sector through a combination of a fresh issue of shares and an offer for sale by existing shareholders.