Behari Lal Engineering IPO: Date, Price Band, Lot Size, Allotment, GMP and Review
Behari Lal Engineering IPO is an upcoming mainboard IPO that will open for subscription on August 12, 2026, and close on August 14, 2026. The company plans to raise approximately ₹301.62 crore through the public issue.
The IPO comprises a fresh issue of ₹93 crore and an offer for sale of up to 73,20,001 equity shares. The price band has been fixed at ₹271 to ₹285 per share.
Behari Lal Engineering shares are proposed to be listed on both the BSE and NSE. The IPO allotment is expected to be finalized on August 17, 2026, with the listing scheduled for August 19, 2026.
Behari Lal Engineering IPO Details
| Particular | Details |
|---|---|
| IPO Name | Behari Lal Engineering IPO |
| IPO Type | Mainboard IPO |
| IPO Open Date | August 12, 2026 |
| IPO Close Date | August 14, 2026 |
| IPO Allotment Date | August 17, 2026 |
| Refund Date | August 18, 2026 |
| Demat Credit | August 18, 2026 |
| IPO Listing Date | August 19, 2026 |
| IPO Price Band | ₹271 to ₹285 |
| Face Value | ₹10 per share |
| Issue Size | Approx. ₹301.62 crore |
| Fresh Issue | Approx. ₹93 crore |
| Offer for Sale | 73,20,001 shares |
| Listing | BSE and NSE |
| Retail Quota | 35% |
| QIB Quota | 50% |
| NII Quota | 15% |
| Lead Managers | Systematix Corporate Services, Emkay Global Financial Services |
| Registrar | MUFG Intime India |
The issue is structured as a book-built IPO. The investor reservation is divided into 50% for QIBs, 15% for NIIs and 35% for retail investors.
Behari Lal Engineering IPO Price Band
The company has fixed the IPO price band at ₹271 to ₹285 per equity share.
At the upper price band of ₹285, investors will need to apply for at least one lot of 52 shares, requiring an investment of ₹14,820.
Behari Lal Engineering IPO Lot Size
The minimum IPO lot size is 52 shares.
| Investor Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 52 | ₹14,820 |
| Retail Maximum | 13 | 676 | ₹1,92,660 |
| S-HNI Minimum | 14 | 728 | ₹2,07,480 |
| S-HNI Maximum | 67 | 3,484 | ₹9,92,940 |
| B-HNI Minimum | 68 | 3,536 | ₹10,07,760 |
The minimum retail investment at the upper price band is therefore ₹14,820.
Behari Lal Engineering IPO Important Dates
The IPO schedule is as follows:
Anchor Investor Bidding: August 11, 2026
IPO Opens: August 12, 2026
IPO Closes: August 14, 2026
Basis of Allotment: August 17, 2026
Refunds: August 18, 2026
Shares Credited to Demat: August 18, 2026
IPO Listing: August 19, 2026
About Behari Lal Engineering
Founded in 1995, Behari Lal Engineering operates in the iron and steel manufacturing industry and focuses on customized engineering solutions.
The company’s product portfolio includes metal rolls, engineering castings, alloy steel products, forging ingots and forged shafts/blocks.
Its engineering castings range from approximately 500 kg to 20 MT and serve industries including steel, iron, mining, aggregate crushers, power and sugar.
The company has served more than 1,825 domestic and international customers, including Amba Shakti Industries, BMW Industries, Shyam Metallics and Energy, Laxcon Steels, MSP Steel & Power, Jai Balaji Industries, Propel Industries and Metso India.
Behari Lal Engineering IPO – Use of Proceeds
The fresh issue proceeds will primarily be used for capital expenditure, including the purchase and installation of machinery and equipment at the company’s manufacturing facilities.
The proposed utilisation includes:
| Purpose | Amount |
|---|---|
| Equipment/machinery and civil work – Manufacturing Facility 1 | ₹19.59 crore |
| Rooftop solar panels – Manufacturing Facility 1 | ₹3.40 crore |
| Equipment/machinery and civil work – Manufacturing Facility 2 | ₹36.65 crore |
| Rooftop solar panels – Manufacturing Facility 2 | ₹3.40 crore |
| Repayment/pre-payment of certain borrowings | ₹0.57 crore |
The company is therefore directing a substantial part of the fresh capital toward expanding manufacturing capacity and improving its facilities.
Behari Lal Engineering IPO Financial Performance
Behari Lal Engineering has reported growth in revenue and profit over the last few financial years.
| Financial Year | Revenue | Expenses | PAT | Assets |
|---|---|---|---|---|
| FY2023 | ₹467.46 crore | ₹429.24 crore | ₹28.80 crore | ₹203.25 crore |
| FY2024 | ₹449.96 crore | ₹400.04 crore | ₹35.79 crore | ₹262.08 crore |
| FY2025 | ₹516.30 crore | ₹446.94 crore | ₹52.95 crore | ₹295.98 crore |
| FY2026 | ₹546.52 crore | ₹459.94 crore | ₹64.64 crore | ₹367.87 crore |
Revenue increased from ₹516.30 crore in FY2025 to ₹546.52 crore in FY2026, while profit after tax increased from ₹52.95 crore to ₹64.64 crore.
This indicates continued growth in both the company’s top line and bottom line ahead of the IPO.
Behari Lal Engineering IPO Valuation
According to the IPO details, the company’s FY2026 financial indicators include:
| KPI | FY2026 |
|---|---|
| ROE | 23.60% |
| ROCE | 27.11% |
| EBITDA Margin | 18.97% |
| PAT Margin | 12.10% |
| Debt-to-Equity | 0.06 |
| Basic EPS | ₹16.56 |
| RoNW | 21.12% |
| NAV | ₹78.41 |
The company reported a relatively low debt-to-equity ratio of 0.06, while ROCE stood at 27.11%.
Behari Lal Engineering IPO Peer Comparison
The IPO page lists several companies for comparison, including:
Jayaswal Neco Industries
AIA Engineering
Steelcast
RHI Magnesita India
Vardhman Special Steels
IFGL Refractories
Kennametal India
These companies operate across areas such as engineering products, specialty steel, castings and industrial manufacturing.
Behari Lal Engineering IPO GMP
The Grey Market Premium (GMP) is an unofficial indicator of market sentiment before an IPO listing. It is not published by the stock exchanges and can change rapidly.
As of August 10, 2026, IPOWatch’s page was showing Behari Lal Engineering IPO GMP at around ₹43, although GMP quotes can vary between sources and throughout the day.
Another market source reported a GMP of ₹30 at 2:30 PM IST on August 10, highlighting why investors should treat GMP figures as indicative rather than definitive.
At a GMP of ₹30 and the upper price band of ₹285, the implied price would be approximately ₹315. However, this is not a guaranteed listing price or return.
Behari Lal Engineering IPO Review
Behari Lal Engineering operates in an established industrial manufacturing segment and has a diversified product portfolio serving steel, mining, power, sugar and other industries.
The company’s financial performance has also improved, with FY2026 revenue reaching ₹546.52 crore and PAT rising to ₹64.64 crore. Its low reported debt-to-equity ratio and planned investment in manufacturing facilities are additional factors investors may consider.
The IPO proceeds are largely intended for manufacturing expansion, machinery and solar installations, which could strengthen production capabilities over the longer term.
However, investors should also consider the OFS component of the issue, valuation, cyclicality of the steel and engineering industries, customer concentration, raw-material price movements and overall market conditions before making an investment decision.
Behari Lal Engineering IPO – Should You Apply?
Behari Lal Engineering IPO presents a combination of business expansion, improving financial performance and relatively low leverage.
The company has grown its revenue and PAT in FY2026, while a significant portion of the fresh issue proceeds is earmarked for manufacturing capacity and equipment.
On the other hand, investors should not make an IPO decision based solely on GMP or expected listing gains. The valuation at the IPO price, future earnings sustainability and the cyclical nature of the company’s end markets are important factors to examine.
Investors with a medium- to long-term investment horizon may study the IPO closely, while short-term investors should be prepared for listing-day volatility.
Behari Lal Engineering IPO FAQs
What is Behari Lal Engineering IPO?
Behari Lal Engineering IPO is a mainboard public issue of approximately ₹301.62 crore, comprising a ₹93 crore fresh issue and an offer for sale of 73,20,001 shares.
When will Behari Lal Engineering IPO open?
The IPO will open for subscription on August 12, 2026.
When will Behari Lal Engineering IPO close?
The IPO will close on August 14, 2026.
What is Behari Lal Engineering IPO price band?
The IPO price band is ₹271 to ₹285 per share.
What is Behari Lal Engineering IPO lot size?
The minimum lot size is 52 shares.
What is the minimum investment in Behari Lal Engineering IPO?
At the upper price band of ₹285, the minimum investment is ₹14,820.
What is Behari Lal Engineering IPO issue size?
The total issue size is approximately ₹301.62 crore, consisting of a ₹93 crore fresh issue and an OFS of 73,20,001 shares.
When is Behari Lal Engineering IPO allotment?
The IPO allotment is expected on August 17, 2026.
When will Behari Lal Engineering IPO list?
The shares are scheduled to list on BSE and NSE on August 19, 2026.
What is Behari Lal Engineering IPO GMP today?
GMP is an unofficial and changing market indicator. Different sources may report different values. Investors should not treat GMP as a guaranteed listing-price indicator.
Disclaimer
This article is intended for educational and informational purposes only and should not be considered investment advice or a recommendation to buy or sell securities. IPO GMP is unofficial and may change. Investors should read the company’s RHP and other official documents carefully and consider their own risk profile before investing.