Behari Lal Engineering IPO

Behari Lal Engineering IPO is a book-built issue worth ₹301.62 crore, comprising a fresh issue of 0.33 crore shares amounting to ₹93 crore and an offer for sale of 0.73 crore shares worth ₹208.62 crore. 

The IPO will open for subscription on August 12, 2026, and close on August 14, 2026. The basis of allotment is expected to be finalised on August 17, 2026, while the shares are scheduled to be listed on the NSE and BSE on August 19, 2026. 

The IPO has a price band of ₹271 to ₹285 per share, with a lot size of 52 shares. Retail investors need to invest a minimum of ₹14,820 for one lot at the upper price band. 

Emkay Global Financial Services Ltd. is the book-running lead manager, while MUFG Intime India Pvt. Ltd. is the registrar for the issue. 

Industry Outlook 

1. Initiatives such as Make in India, the Production Linked Incentive (PLI) Scheme, PM Gati Shakti, the National Logistics Policy and the National Infrastructure Pipeline are expected to improve manufacturing capacity, infrastructure and supply-chain efficiency. 
2. Policies focused on reducing import dependence and promoting local production are likely to support industries such as steel, electronics, automobiles, pharmaceuticals and renewable energy. 
3. The PLI scheme is expected to encourage investments in 14 sectors, improve production capabilities and support export growth, particularly in high-tech and manufacturing-intensive industries. 
4. PM Gati Shakti and the National Logistics Policy are expected to improve multimodal connectivity and reduce logistics costs, helping manufacturers lower operating expenses and improve their competitiveness. 
5. Greater adoption of technologies such as artificial intelligence, robotics, Internet of Things and digital supply chains is expected to improve productivity, automation and operational efficiency across manufacturing industries. 
6. Skill-development initiatives such as the Pradhan Mantri Kaushal Vikas Yojana are expected to help address skill gaps and create a workforce better aligned with modern manufacturing requirements. 
7. The National Steel Policy 2017 targets higher steel production and domestic consumption, which could support manufacturing industries such as construction, automobiles and engineering that rely heavily on steel. 

Behari Lal Engineering IPO Objectives  

The company plans to use the net proceeds from the IPO for the following purposes: 

• Manufacturing Facility 1: ₹19.59 crore will be used to purchase and install new equipment and machinery, including computers, printers and peripherals, along with the required civil work. 
• Solar Panels at Facility 1: ₹3.40 crore will be utilised to purchase and install rooftop solar panels at Manufacturing Facility 1. 
• Manufacturing Facility 2: ₹36.65 crore will be used for new equipment and machinery, along with civil work required for their installation. 
• Solar Panels at Facility 2: ₹3.40 crore will be allocated towards the purchase and installation of rooftop solar panels at Manufacturing Facility 2. 
• Debt Repayment: ₹0.57 crore will be used to repay or prepay, fully or partially, certain borrowings of the company. 
• General Corporate Purposes: A portion of the proceeds will be used for general corporate requirements. 

About Behari Lal Engineering Limited  

Incorporated in 1995, Behari Lal Engineering Ltd. is an integrated iron and steel manufacturer that provides customised engineering solutions for critical industrial applications. Its product portfolio includes metal rolls, engineering castings, alloy steel products, forging ingots, and forged shafts and blocks. The company manufactures metal rolls in grades such as alloy cast steel, alloy steel base adamite, graphitic steel and S.G. iron pearlitic. Its engineering castings range from 500 kg to 20 MT and cater to industries including steel, iron, mining, power, sugar and aggregate crushing. The company also manufactures carbon, alloy and stainless steel bars in various sections and sizes, along with tool and valve steel. Its forging ingots and forged shafts and blocks are used as raw materials in open-die and closed-die forging applications. 

As of March 31, 2026, Behari Lal Engineering had served 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. The company operates two manufacturing facilities in Mandi Gobindgarh, Punjab. As of May 31, 2026, its order book stood at ₹178.57 crore, indicating a healthy pipeline of future business. 

How To Check the Allotment Status of the Behari Lal Engineering IPO? 

Steps to check IPO allotment status on Angel One’s app: 

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email. 

How To Apply for Behari Lal Engineering IPO Online? 

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Behari Lal Engineering IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

Contact Details of Behari Lal Engineering IPO  

Registered Office: Behari Lal Engineering Ltd. Address- Village Salani, Amloh Road 

Mandi Gobindgarh, Fatehgarh Sahib, Punjab, 147301 

Phone: +91 17655 20694 

E-mail: cs@beharilalgroup.co 

Behari Lal Engineering IPO Reservation 

Behari Lal Engineering IPO Promoter Holding 

The promoters of the company are Parkash Chand Garg, Rajesh Garg, Dinesh Garg, Lovlish Garg and Bhuvnesh Garg. 

Behari Lal Engineering IPO Prospectus 

• Behari Lal Engineering IPO RHP 

Behari Lal Engineering IPO Registrar and Lead Managers 

Behari Lal Engineering IPO Lead Managers 

• Emkay Global Financial Services Ltd.
• Systematix Corporate Services Ltd. 

Registrar for Behari Lal Engineering IPO 

MUFG Intime India Pvt.Ltd. 

• Contact Number: 022-49186000
• Email Address: beharilalengineering.ipo@in.mpms.mufg.com 

Financial Performance of Behari Lal Engineering Limited 

Behari Lal Engineering Limited Peer Details Comparison 

Strengths and Opportunities of Behari Lal Engineering IPO 

1. The company offers a broad range of products, including metal rolls, engineering castings, alloy steel products and forgings, reducing its reliance on any single industry or application. 
2. Its two manufacturing units in Mandi Gobindgarh, Punjab, cover approximately 790,000 square feet and have a combined installed capacity of 119,690 MT. 
3. The company’s overlapping and flexible manufacturing processes allow it to optimise resources across product categories. Its overall capacity utilisation stood at 87.71% in FY2026. 
4. Established in 1995, the company benefits from a promoter group with up to three decades of industry experience. Its established customer approvals also create entry barriers for potential competitors. 

Risks and Threats of Behari Lal Engineering IPO  

1. The company’s top 10 customers accounted for ₹202.92 crore, or 38% of revenue from operations in FY2026. Losing a key customer could therefore have a significant impact on revenue. 
2. The company does not have long-term contracts with customers and primarily operates through purchase orders. Any sudden decline or change in customer demand could affect its revenue visibility. 
3. Materials consumed accounted for ₹280.66 crore, or 61.02% of total expenses in FY2026. A rise in raw material prices could put pressure on the company’s profit margins. 
4. A significant portion of the company’s sales comes from India. Any slowdown in domestic demand could adversely affect its revenue and business performance. 
5. Demand for metal rolls is closely linked to finished-steel production. A decline in steel output could consequently reduce the company’s orders and revenue. 
6. The company exports its products to 21 countries and also imports certain raw materials. Fluctuations in foreign exchange rates could increase costs and negatively affect profitability.