Behari Lal Engineering has secured ₹90.48 crore from anchor investors ahead of its upcoming IPO, signalling strong Institutional interest and plans for capital expansion at its manufacturing facilities.
Behari Lal Engineering has raised ₹90.48 crore from anchor investors ahead of its initial public offering, which opens to the public on August 12, according to the company’s stock exchange filing. The metal products maker allocated 3,174,946 shares at ₹285 each to institutional buyers, with participation from Tata AIA Life Insurance, Pinebridge Global Funds and Amicorp Capital, among others.
The IPO is priced in a band of ₹271 to ₹285 a share and will close on August 14. The company is offering a fresh issue worth up to ₹93 crore alongside an offer-for-sale of as many as 7,320,001 shares by promoters Rajesh Garg, Lovlish Garg, Yogita Garg and Dinesh Kumar Garg HUF, as well as investor seller SG Tech Engineering Private Limited. Emkay Global Financial Services and Systematix Corporate Services are the book-running lead managers, while MUFG Intime India is the registrar.
According to the offer details, the company plans to use proceeds from the fresh issue for capital spending at its manufacturing facilities, including new equipment, machinery and rooftop solar panels, as well as a small repayment of borrowings and general corporate purposes. The company said the issue will be made through the book-building route, with no more than half reserved for qualified institutional buyers and the remainder split between non-institutional and retail investors.
Incorporated in 1995 and based in Mandi Gobindgarh, Punjab, Behari Lal Engineering makes metal rolls, engineering castings, alloy steel products and forging ingots for industries including steel, power and heavy engineering. CRISIL has described it as one of India’s largest metal rolls producers, with the company meeting 10% to 11.5% of domestic demand in fiscal 2026. Company filings show revenue of ₹516.3 crore in fiscal 2025, up 15% from the previous year, and the business employs about 296 people.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
