The ₹302 crore IPO opens August 12 with a ₹271-285 price band. Proceeds fund capex and debt repayment. Shares list August 19.
Alpha Score of 57 reflects moderate overall profile with strong momentum, moderate value, weak quality, weak sentiment.
Behari Lal Engineering set a price band of ₹271 to ₹285 per share for its ₹302 crore initial public offering, which opens for subscription on August 12.
The three-day issue closes August 14. Anchor investor bidding is scheduled for August 11, the company said in a statement.
The IPO combines a fresh issue of equity shares worth up to ₹93 crore with an Offer for Sale of up to 73.20 lakh shares from existing shareholders. Proceeds from the fresh issue will fund capital expenditure, repay or prepay borrowings, and cover general corporate purposes.
Half the issue is reserved for Qualified Institutional Buyers. Non-Institutional Investors get 15%, and retail investors get the remaining 35%.
The company was founded in 1995 as Behari Lal Ispat Pvt Ltd and converted to a public limited entity in 2024, renaming to Behari Lal Engineering to reflect its expanded product range. It manufactures engineering castings, alloy steel products and metal rolls for the steel, power and heavy engineering industries. The company runs two integrated manufacturing facilities in Mandi Gobindgarh, Punjab – a steel melting shop and foundry, and a rolling mill division – with in-house design, testing and R&D capabilities.
Shares are expected to list on the BSE and NSE on August 19.
Emkay Global Financial Services and Systematix Corporate Services are the book-running lead managers. MUFG Intime India is the registrar. MUFG (Mitsubishi UFJ Financial Group Inc) carries an Alpha Score of 57 out of 100, a Moderate rating in the Financial Services sector. The stock page is available at MUFG stock page.
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