Behari Lal Engineering IPO opens on August 12; check price band, issue size & key details

Delhi-based iron and steel manufacturer Behari Lal Engineering will open its initial public offering (IPO) for subscription on August 12, with a price band of Rs 271-285 per share. At the upper end of the price band, the company is seeking a market capitalisation of more than Rs 1,200 crore.

The company plans to raise Rs 208.62 crore through the IPO. The issue comprises a fresh issue of shares worth Rs 93 crore and an offer-for-sale of 73.2 lakh shares. The anchor book will open for a day on August 11, and the public issue will close on August 14. The share allotment is expected to be finalised by August 17, followed by the likely listing on the stock exchanges on August 19.

The selling shareholders in the offer-for-sale are promoters from the Garg family and SG Tech Engineering, which currently holds a 10 per cent stake in the company. The IPO size has been reduced from the proposal in the draft red herring prospectus. In the draft papers filed in September 2025, the company had proposed a fresh issue of Rs 110 crore and an offer-for-sale of 78.54 lakh shares. The draft papers were approved by SEBI in December 2025.

Half of the offer has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 52 equity shares and in multiples of 52 shares thereafter. Based on the upper end of the price band, the minimum investment for a retail investor will be Rs 14,820, while the maximum investment will be Rs 1,92,660.

Behari Lal Engineering is an iron and steel manufacturing company focused on customised engineering solutions. It manufactures metal rolls for rolling mills, engineering castings, forging ingots, and carbon, alloy steel and stainless steel bars through its two manufacturing facilities.

The company has said it is one of India's largest producers of metal rolls. It plans to use Rs 63 crore from the net issue proceeds for the purchase and installation of new equipment and machinery, civil works related to the installation, and rooftop solar panels at its two manufacturing facilities in Punjab. A further Rs 57 lakh will be used for loan repayment, while the remaining funds will go towards general corporate purposes.

For the year ended March 2026, the company reported a profit of Rs 64.6 crore, up 22 per cent from Rs 53 crore in the previous year. Revenue from operations rose 5.1 per cent to Rs 534 crore from Rs 507.9 crore. Emkay Global Financial Services and Systematix Corporate Services are the book-running lead managers to the issue, while MUFG Intime India is the registrar. The company's shares are set to be listed on both the BSE and NSE on Wednesday, August 19.