Behari Lal Engineering IPO allotment: How to you check status, latest GMP, listing & more

 Behari Lal Engineering is likely to finalize the basis of allotment of its shares on Monday, March 09. Applicant bidders will get the messages, alerts or emails for debit of their funds by Tuesday, August 18, before its listing. The integrated iron and steel maker received a bumper response from the investors during the three day bidding period.

The IPO of Behari Lal Engineering was open for bidding between August 12 and August 14. It had offered its shares in the price band of Rs 271-285 per share with a lot size of 52 shares. The company eyed to raise a total of Rs 302 crore via IPO, which a fresh share sale of Rs 93 crore and offer-for-sale (OFS) of up to 73.20 lakh equity shares worth Rs 209.

The issue was overall subscribed a solid 108.44 with nearly 33.67 lakh applications, fetching bids for more than Rs 22,900 crore. The portions for qualified-institutional bidders (QIBs) and non-institutional investors (NIIs) were subscribed 165.33 times and 165.32 times, respectively. The quota for retail bidders was subscribed at 53.27 times.

Based on the bidding, here are the odds of allotment for IPO of Behari Lal Engineering:

• Big HNI category: 2 investors out of 63 investors will get 728 shares (Probability: 3.17 per cent)
• Small HNI category: 1 investor out of 121 investors will get 728 shares (Probability: 0.83 per cent)
• Retail category: 1 investor out of 40 investors will get 52 shares (Probability: 2.50 per cent)

The grey market premium (GMP) of Behari Lal Engineering has seen some rise after muted bidding and jittered market sentiments. Last heard, it was commanding a discount of Rs 83-85 per share, suggesting a listing pop of 29-30 per cent for the investors. The company was commanding a GMP around Rs 75 apiece, when the issue had opened for bidding.

Incorporated in 1995, Punjab-based Behari Lal Engineering 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.

Emkay Global Financial Services and Systematix Corporate Services are the book running lead managers of Behari Lal Engineering IPO and MUFG Intime India is the registrar of the issue. Refund of the bidding amount shall be done on Tuesday, August 18. Shares of the company shall be listed on both BSE and NSE on August 19, Wednesday. 

Investors, who had bid for the issue of Behari Lal Engineering, can check the allotment status on the Bombay Stock Exchange (BSE) website:

• Visit https://www.bseindia.com/investors/appli_check.aspx
• Under the issue type, click Equity
• Under the issue name, select Behari Lal Engineering Limited in the dropbox
• Write the application number
• Add the PAN card ID
• Click on 'I am not a Robot' and hit search button

Similarly, one can also check the allotment status on NSE website also (https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids)

• Select ‘Equity & SME IPO Bid details’.
• Under ‘Select Symbol’, choose ‘BLEL’.
• Put in your PAN No. and Application No.
• Click on ‘Submit’ to proceed.

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

• Go to the web portal of MUFG Intime India Limited
• Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized
• You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
• In application type, select between ASBA and non-ASBA
• Enter the details of the mode you selected in Step 2
• For security purposes, fill the captcha accurately
• Hit submit.