Punjab-based Behari Lal Engineering sets price band for its IPO at ₹271 to ₹285 per share, planning to raise ₹93 crore to fund new machinery, solar panels, and expansion, as it prepares for listing on BSE and NSE.
Behari Lal Engineering has set the price band for its initial public offering at ₹271 to ₹285 a share, with the issue due to open on August 12 and close on August 14. The company said investors can bid for a minimum of 52 shares and in multiples of 52 thereafter, making the smallest application size roughly ₹14,092 at the lower end of the band.
The Punjab-based engineering group is aiming to raise up to ₹93 crore through a fresh issue, alongside an offer for sale of 7,320,001 shares by existing shareholders, according to the company’s announcement. The selling shareholders include promoters Rajesh Garg and Lovlish Garg, promoter-group shareholders Yogita Garg and Dinesh Kumar Garg HUF, and SG Tech Engineering Private Limited.
Incorporated in 1995 and based in Mandi Gobindgarh, the company makes metal rolls, engineering castings, alloy steel products and forging ingots for customers in steel, power and heavy engineering. Business Standard previously said the IPO was in the pipeline pending regulatory approval, while corporate filings tracked by The Company Check show the business employed 296 people and generated revenue of ₹516.3 crore in fiscal 2025, up 15% from the previous year.
According to the company, proceeds from the fresh issue will be used to buy and install new machinery at two manufacturing sites, add rooftop solar panels at both facilities, repay some borrowings and fund general corporate needs. Behari Lal Engineering also said it has begun work on a third plant in Fatehgarh Sahib, Punjab, and that it serves 1,825 customers across 21 countries on five continents. Emkay Global Financial Services and Systematix Corporate Services are the book-running lead managers, with MUFG Intime India as registrar. The shares are proposed to list on BSE and NSE.
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