Behari Lal Engineering Limited IPO
ListedMainboardSteel
106.48×
Subscribed
Price band
₹285 – ₹285
Lot size
52
1 lot = ₹14,820
Issue size
₹301.62 Cr
Open – close
12 Aug 2026
to 14 Aug 2026
Listing
19 Aug 2026
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong3 of 7 dimensions read
The disclosed numbers are strong — 3 of 3 signals read positive
Strength89/100
- Conservative balance sheetDebt/equity of 0.06×
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Institutions bid heavilyQIB portion subscribed 165.33×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed, and is pulled toward neutral to reflect how much the document leaves unsaid. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens12 Aug 2026
- Closes14 Aug 2026
- Allotment17 Aug 2026
- Listing19 Aug 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB165.33x
Non-institutionalNII / HNI163.91x
Retail individualRII50.01x
Chance of allotment
Retail50.01× subscribed
~1 in 50
Minimum 1 lot · 52 shares · ₹14,820 blocked
Retail is 50.01× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 50 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII163.91× subscribed
~1 in 163.9
Minimum 14 lots · 728 shares · ₹2,07,480 blocked
HNI is 163.91× subscribed. This category is allotted proportionately, so a bid receives roughly 1/163.9 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
The offering
Terms, structure and who is selling
Terms
Price band₹285 – ₹285
Face value₹10
Lot size52shares
Minimum application₹14,820at cut-off
Total issue size₹301.62 Cr
Listing atMainboard
Company & valuation
Debt / equity0.06×
ISININE1EEM01017
RegistrarLINK
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
What the money is for
Stated use of the net proceeds
- 01Funding capital expenditure requirement for: purchase and installation of new equipment / machinery (including computers, printers and computer peripherals) along with civil work for such installation at Manufacturing Facility 1₹19.59 Cr
- 02Funding capital expenditure requirement for: purchase and installation of new roof-top solar panels at Manufacturing Facility 1₹3.4 Cr
- 03Funding capital expenditure requirement for: purchase and installation of new equipment / machinery along with civil work for such installation at Manufacturing Facility 2₹36.65 Cr
- 04Funding capital expenditure requirement for: purchase and installation of new roof-top solar panels at Manufacturing Facility 2₹3.4 Cr
- 05Repayment and/ or pre-payment, in full or part, of certain borrowings availed by our Company₹0.57 Cr
- 06General corporate purposesnot stated
Objects with no stated amount — typically general corporate purposes — are funded from whatever remains, so the quantified figures do not sum to the whole issue.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumThe Company generates significant revenues from its top 10 customers, which accounted for 38.00%, 39.91% and 37.81% of revenue from operations in Fiscal 2026, 2025 and 2024 respectively. The loss of such customers or a significant reduction in revenue from them will have a material adverse impact on
mediumThe Company does not enter into long-term contracts with its customers and is dependent on maintaining relationships with them. Failure to negotiate acceptable terms, adverse changes in customers' financial condition, or other factors could have a material adverse impact on the business, results of
mediumThe Company derives a significant majority of its revenue from repeat customers, which constituted 84.69%, 86.10% and 80.04% of revenue from operations in Fiscal 2026, 2025 and 2024 respectively. Loss of one or more of these repeat customers or reduction in their demand could adversely affect the bu
Litigation across 495 matters
Set out below is a summary of outstanding litigation proceedings involving our Company, our Directors, Promoters, Key Managerial Personnels, and members of the Senior Management: 495 Name of Entity Criminal Tax Statutory/ Disciplinary Material Aggregate Proceedings proceedings Regulatory actions by civil amount proceedings the SEBI or litigation involved stock (₹ in Exchanges million)* against our Promoter in last 5 years Company By our Company Nil NA NA NA Nil Nil Against our Company Nil 4# Nil Nil Nil 8.21 Promoters By our Promoter Nil NA NA NA Nil Nil Against our Promoter Nil 2 Nil Nil Nil 0.85 Directors (Other than Promoters) By our Directors Nil NA NA NA Nil Nil Against our Directors Nil Nil Nil Nil Nil Nil Key Managerial Personnels and members of Senior Management (other than Directors) By our Key Managerial Nil NA Nil NA NA NA Personnels and members of Senior Management Against our Key Nil NA Nil NA NA NA Manage
Positives the filing discloses (2)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
Low leverage
Debt-to-equity of 0.06x.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+11.1%
Listed up
6 of 8
Best
+90.0%
Shanti Inorganics
Worst
-0.7%
Mopshop Distribution
Gaja Alternative Asset Management Limitedsame segment
31.2× sub+15.6%
Juniper Green Energy Limitedsame segment
7.9× sub+8.9%
131.8× sub+90.0%
1.6× sub+0.0%
-0.7%
138.6× sub+22.1%
1.5× sub+6.9%
46.2× sub+13.4%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Behari Lal Engineering Limited
Behari Lal Engineering Limited is an integrated iron and steel manufacturing company that produces precision-engineered components for industrial applications. Its product portfolio includes metal rolls, engineering castings, alloy steel products, forging ingots, and forged shafts and blocks. These products are used across industries such as steel, automobile, mining, infrastructure and construction, power, aerospace and defence, and cement. The company serves domestic and international customers, with its products supplied across 21 countries since April 2024. The company operates two manufacturing facilities in Mandi Gobindgarh, Punjab, with steel melting, refining, foundry, heat treatment, machining and rolling capabilities, and has commenced construction of a third facility in the region.
Founded 1995MD Mr. Dinesh GargSector Steel
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Behari Lal Engineering Limited IPO subscribed?
Behari Lal Engineering Limited is subscribed 106.48× overall (QIB 165.33×, NII 163.91×, retail 50.01×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, LINK.
What is the minimum investment in the Behari Lal Engineering Limited IPO?
One lot is 52 shares, so a retail application at the ₹285 cut-off price blocks ₹14,820. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Behari Lal Engineering Limited IPO?
The retail portion is subscribed 50.01×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 50. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Behari Lal Engineering Limited IPO allotment date?
Allotment is scheduled for 2026-08-17, with listing on 2026-08-19. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, LINK.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.