Behari Lal Engineering Limited raises Rs 90.48 crore from anchor investors

11 August, 2026 Mumbai: Behari Lal Engineering Limited, which is an integrated iron and steel manufacturing company specializing in customized engineering solutions, has garnered Rs 90.48 crore from anchor investors ahead of its initial public offering, which opens for public subscription on Wednesday, August 12, 2026.

 

The company informed the bourses that it allocated 3l,74,946 equity shares at Rs 285 per share to anchor investors.

 

Some of the marquee institutions that participated in the anchor include Tata AIA Life Insurance Company Ltd A/C Flexi Growth Fund ULIP, Pinebridge Global Funds - Pinebridge India Equity Fund and Amicorp Capital (Mauritius) Limited.

 

Amongst equity- oriented schemes, the company has allocated shares to Whiteoak Capital Balanced Advantage Fund, Bandhan Large & Mid-Cap Fund, and Dynasif Equity - Ex Top 100 Long Short Fund.

 

Out of the total allocation of 3l,74,946 equity shares to the anchor investors, 10,87, 718 equity shares were allocated to 3 domestic mutual funds through 3 schemes.

 

Emkay Global Financial Services Limited and Systematix Corporate Services Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.

 

The equity shares are proposed to be listed on BSE and NSE.

 

IPO Details

 

Behari Lal Engineering Limited has fixed the price band of Rs 271 to Rs 285 per Equity Share of face value Re. 10/- each for its maiden initial public offer.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Wednesday, August 12, 2026, for subscription and close on Friday, August 14, 2026.

 

Investors can bid for a minimum of 52 Equity Shares and in multiples of 52 Equity Shares thereafter.

 

The offer, with a face value of Rs 10 per equity share, comprises a fresh issue aggregating up to Rs 93 crore and an offer-for-sale of up to 7,320,001 equity shares by promoters - Rajesh Garg, Lovlish Garg, Yogita Garg, and Dinesh Kumar Garg HUF.

 

Investor selling shares - SG Tech Engineering Private Limited.

 

The proceeds from its fresh issuance worth Rs 19.58 crore will be utilised towards funding purchase and installation of new equipment / machinery (including computers, printers and computer peripherals) along with civil work for such installation at manufacturing facility 1, Rs 3.4 crore for purchase and installation of new roof-top solar panels at manufacturing facility 1, Rs 36.6 crore for purchase and installation of new equipment / machinery along with civil work for such installation at manufacturing facility 2, Rs 3.4 crore for purchase and installation of new roof-top solar panels at manufacturing facility 2, Rs 57 lakh for repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company, and general corporate purposes.

 

The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively.

 

Company Information

 

Incorporated in 1995, the company is an integrated iron and steel manufacturing company specializing in customized engineering solutions. According to CRISIL, the company is one of India’s largest metal rolls producers and a leading player in the metal rolls meeting 10-11.5% of the country’s demand in Fiscal 2026.

 

The company is a manufacturer of metal rolls, engineering castings, alloy steel products, and forging ingots for user industries including steel, power, and heavy engineering. 

 

It operates two manufacturing facilities in Mandi Gobindgarh, Punjab (manufacturing facilities) which are equipped with capabilities to design, develop and manufacture its products. Further, the company has recently commenced construction for its third manufacturing facility at Mandi Gobindgarh, District Fatehgarh Sahib, Punjab.