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BEHARI LAL ENGINEERING IPO

ALREADY DEPARTEDNSE, BSE · MAINBOARD · IRON & STEEL PRODUCTS
INDICATIVE FARE / PRICE BAND
₹285
BAND INDICATIVE · NOTHING FINAL UNTIL THE RHP
FIGURES ON THIS PAGE AS OF 25 AUG 2026, 10:02 IST · REFRESHED THROUGH THE DAY
THE FARE BOARD · KEY NUMBERS

BY THE NUMBERS.

PRICE BAND
₹285
LOT SIZE
52 SHARES
ISSUE SIZE
₹301.62 CR
MIN INVESTMENT
₹14,820 · 52 SHARES
P/E RATIO
17.21
THE TIMETABLE · FOUR STOPS
THE JOURNEY.
OPENS
12 AUG 26
✓ STOP CLEARED
CLOSES
14 AUG 26
✓ STOP CLEARED
ALLOTMENT
17 AUG 26
✓ STOP CLEARED
LISTING
19 AUG 26
✓ STOP CLEARED
ANCHOR BIDDING11 AUG 26REFUNDS INITIATED18 AUG 26SHARES IN DEMAT18 AUG 26ANCHOR LOCK-IN ENDS · 30 DAY16 SEPT 26ANCHOR LOCK-IN ENDS · 90 DAY15 NOV 26
TIMETABLE AS FILED · DATES CAN MOVE · CONFIRM AGAINST THE OFFICIAL RHP AND THE REGISTRAR
END OF THE LINE · LISTING DAY

WHERE IT LANDED.

LISTING PRICE
₹465
DAY-1 LISTING GAIN
+63.16%
THE BOOKING SHEET · SUBSCRIPTION

HOW FULL THE BUS GOT.

OVERALL SUBSCRIPTION118.07×
QIB222.04×
NII167.95×
SMALL HNI179.26×
BIG HNI162.29×
RETAIL54.12×
THE CENTRE TICK = 1× · BUS FULL · SUBSCRIPTION FIGURES AS REPORTED BY THE EXCHANGES · TIMES THE ISSUE · INFORMATION ONLY
THE FARE TABLE · WHAT AN APPLICATION COSTS

TICKET CLASSES.

APPLICATIONLOTSSHARESAMOUNT
RETAIL · MINIMUM · AS PUBLISHED152₹14,820
RETAIL · MAXIMUM · COMPUTED13676₹1,92,660
SMALL HNI · MINIMUM · AS PUBLISHED14728₹2,07,480
SMALL HNI · MAXIMUM · COMPUTED673,484₹9,92,940
BIG HNI · MINIMUM · AS PUBLISHED683,536₹10,07,760
EACH ROW SAYS WHETHER ITS FIGURES ARE THE QUANTITIES PUBLISHED FOR THIS ISSUE OR OUR OWN ARITHMETIC · COMPUTED ROWS ARE LOT SIZE × UPPER BAND · AMOUNTS AT THE UPPER BAND OF ₹285 · CATEGORY LIMITS PER SEBI THRESHOLDS (₹2 LAKH RETAIL CEILING, ₹10 LAKH SHNI/BHNI BOUNDARY) · INFORMATION ONLY · WE DO NOT ACCEPT OR PROCESS IPO APPLICATIONS
THE MANIFEST · ISSUE STRUCTURE

HOW THE ISSUE IS BUILT.

FACE VALUE
₹10
ISSUE TYPE
BOOK BUILD ISSUE
FRESH ISSUE
₹93 CR
32,63,157 SHARES
OFFER FOR SALE
₹208.62 CR
73,20,001 SHARES
TOTAL SHARES OFFERED
1,05,83,158

The two legs send the money to different places: a fresh issue raises new capital for the company, while an offer for sale is existing shares being sold by existing shareholders, whose proceeds go to those sellers and not to the company.

FIGURES AS PUBLISHED FOR THIS ISSUE · CONFIRM AGAINST THE OFFICIAL RHP
THE GAUGES · VALUATION AND RETURNS

ON THE DASHBOARD.

EPS · PRE-ISSUE
16.56
EPS · POST-ISSUE
15.28
P/E RATIO
17.21
P/E · POST-ISSUE
18.65
RONW
21.12%
ROCE
27.11%
ROE
23.6%
PAT MARGIN
12.1%
EBITDA MARGIN
18.97%
PRICE / BOOK
3.63
NAV PER SHARE
₹78.41
DEBT / EQUITY
0.06
MARKET CAP
₹1,205.62 CR
FIGURES STATED AS OF 31 MAR 2026 · AS PUBLISHED FOR THIS ISSUE AND REPRODUCED WITHOUT ADJUSTMENT · A REPORTED RATIO IS NOT A VIEW ON VALUE · CONFIRM AGAINST THE OFFICIAL RHP
THE LOGBOOK · REPORTED FINANCIALS

THE RUNNING RECORD.

INR CR31 MAR 2431 MAR 2531 MAR 26
ASSETS262.08295.98367.87
TOTAL INCOME449.96516.3546.52
PROFIT AFTER TAX35.7952.9564.64
EBITDA60.9981.31101.32
NET WORTH193.66241.62306.1
RESERVES AND SURPLUS186.13233.81267.06
TOTAL BORROWING41.217.5817.78
AMOUNTS IN INR CR · AS PUBLISHED FOR THIS ISSUE AND REPRODUCED WITHOUT ADJUSTMENT · CONFIRM AGAINST THE OFFICIAL RHP
OTHER SERVICES ON THIS ROUTE · PEER GROUP

WHO ELSE RUNS THIS LINE.

PEEREPS (BASIC)EPS (DILUTED)NAV (₹ PER SHARE)P/E (X)RONW (%)FINANCIAL STATEMENTS
Behari Lal Engineering Ltd. · THIS ISSUER16.5616.5678.4121.12Standalone
Jayaswal Neco Industries Ltd.4.774.7729.2618.4816.39Standalone
AIA Engineering Ltd.136.11136.11859.9834.4315.53Consolidated
Steelcast Ltd.8.588.5839.0337.9921.89Standalone
RHI Magnesita India Ltd.-18.54-18.54172.42-10.81Consolidated
Vardhman Special Steel Ltd.13.1513.13132.1123.199.59Consolidated
IFGL Refractories Ltd.4.814.8116343.467.93Consolidated
Kennametal India Ltd.46.8246.82340.0262.0213.7Standalone
PEER GROUP STRUCK AS AT 31 MAR 2026 · AS PUBLISHED FOR THIS ISSUE · NOT LIVE MARKET QUOTES, AND NOT A COMPARISON DRAWN BY BUYUNLISTEDSHARES
THE NOTE PUBLISHED WITH THIS PEER GROUP

Notes: Net Asset Value per Equity Share is calculated as net worth as at the end of the relevant year divided by the aggregate of total number of equity shares and instruments entirely equity in nature outstanding at the end of such year. P/E Ratio has been computed based on the closing market price of equity shares on August 3, 2026, on www.bseindia.com, divided by the Diluted EPS as on March 31, 2026. RoNW is computed as net profit after tax and minority interest divided by closing net worth. Net worth has been computed as the aggregate of share capital and reserves and surplus. In case the net worth is negative for a particular year, the same has not been considered.

WHERE THE FARE GOES · OBJECTS OF THE ISSUE

WHAT THE MONEY IS FOR.

OBJECT OF THE ISSUEINR CR
Funding 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 119.59
purchase and installation of new roof-top solar panels at Manufacturing Facility 13.4
purchase and installation of new equipment / machinery along with civil work for such installation at Manufacturing Facility 236.65
purchase and installation of new roof-top solar panels at Manufacturing Facility 23.4
Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company0.57
General Corporate Purposes
INR CR 63.61 ALLOCATED IN TOTAL · OBJECTS AND AMOUNTS AS PUBLISHED FOR THIS ISSUE · AN OBJECT WITH NO AMOUNT AGAINST IT IS SHOWN AS PUBLISHED · CONFIRM AGAINST THE OFFICIAL RHP
THE SEATING PLAN · CATEGORY RESERVATION

WHO GETS WHICH SEATS.

ANCHOR INVESTOR
31,74,946
SHARES
QIB
15,16,633
Not more than 50% of the Offer
NII (HNI)
15,87,474
Not less than 15% of the Offer
SNII
5,29,158
SHARES
BNII
10,58,316
SHARES
RETAIL
37,04,105
Not less than 35% of the Offer
99,83,158 SHARES ACROSS ALL CATEGORIES · CATEGORY SPLIT AS PUBLISHED FOR THIS ISSUE · CONFIRM AGAINST THE OFFICIAL RHP
ABOUT THIS SERVICE

Behari Lal Engineering Limited is an integrated iron and steel manufacturing company engaged in providing specialized engineering and metallurgical solutions for a wide range of industrial applications. The company produces precision-engineered products designed to meet the requirements of sectors such as steel, mining, power generation, sugar processing, infrastructure, and heavy engineering. Its diversified product portfolio includes: Metal Rolls: Manufactured in various grades, including alloy cast steel, alloy steel-based adamite, graphitic steel, and pearlitic S.G. iron, catering to the rolling and metal processing industries. Engineering Castings: Custom-engineered castings ranging from 500 kilograms to 20 metric tonnes, supplied to industries such as steel, iron, mining, aggregate crushing, power, and sugar. Alloy Steel Products: A range of carbon steel, alloy steel, and stainless steel bars available in round, flat, hexagonal, and round-corner square sections, with sizes ranging from 6 mm to 230 mm. The portfolio also includes specialized grades such as tool steel and valve steel. Forging Ingots and Forged Components: Forging ingots, shafts, and blocks used as raw materials for open-die and closed-die forging applications across multiple industrial sectors. As of March 31, 2025, the company had served 1,681 domestic and international customers . Its clientele includes established industrial players such as Amba Shakti Industries , BMW Industries , Shyam Metalics and Energy , Laxcon Steels , MSP Steel & Power , Jai Balaji Industries , Propel Industries , and Metso India , among others. Behari Lal Engineering operates two manufacturing facilities located in Mandi Gobindgarh, Punjab , covering approximately 790,000 square feet . The facilities have a combined installed production capacity of 119,464 metric tonnes (MT) , comprising 54,464 MT of finished steel processing capacity and 65,000 MT of rolling mill capacity. As of August 31, 2025, the company employed a workforce of 774 trained professionals and workers , supporting its manufacturing, engineering, and operational activities.

THE CREW · WHO IS RUNNING THIS SERVICE

ON THE ROSTER.

PROMOTERS
NAMES
Parkash Chand Garg, Rajesh Garg, Dinesh Garg, Lovlish Garg, Bhuvnesh Garg
HOLDING PRE-ISSUE
88.51%
HOLDING POST-ISSUE
70.84%
BOOK-RUNNING LEAD MANAGERS
2 APPOINTED
Emkay Global Financial Services Ltd., Systematix Corporate Services Ltd.
REGISTRAR TO THE ISSUE
NAME
MUFG Intime India Pvt.Ltd.
PHONE
022-49186000
THE COMPANY
PHONE
+91 17655 20694
REGISTERED OFFICE
Village Salani, Amloh Road, Mandi Gobindgarh, Fatehgarh Sahib, Punjab, 147301
DETAILS AS PUBLISHED FOR THIS ISSUE · ALLOTMENT IS HANDLED BY THE REGISTRAR, NOT BY BUYUNLISTEDSHARES · WE NEVER ASK FOR PAN OR APPLICATION DETAILS
THE ENQUIRY DESK · QUESTIONS

COMMON QUESTIONS.

What is the Behari Lal Engineering IPO price band?+

The indicative price band is ₹285 per share. The binding terms are the ones in the Red Herring Prospectus (RHP).

What is the lot size of the Behari Lal Engineering IPO?+

One lot is 52 shares. At the upper band of ₹285, one lot works out to ₹14,820.

How many lots can a retail investor apply for in the Behari Lal Engineering IPO?+

A retail application runs from 1 lot (52 shares, ₹14,820) up to 13 lots (676 shares, ₹1,92,660) — the most that fits under SEBI's ₹2 lakh retail ceiling.

What is the minimum HNI application in the Behari Lal Engineering IPO?+

A small-HNI (sHNI) application starts at 14 lots — 728 shares, ₹2,07,480. A big-HNI (bHNI) application starts at 68 lots — 3,536 shares, ₹10,07,760, above the ₹10 lakh boundary.

When does the Behari Lal Engineering IPO open and close?+

The issue opened on 12 Aug 2026 and closed on 14 Aug 2026. Dates can move — the registrar and the exchange notices are the record.

When is the Behari Lal Engineering IPO allotment?+

Allotment is scheduled for 17 Aug 2026. The basis of allotment is published by the registrar to the issue. BuyUnlistedShares does not accept, process or track IPO applications.

When did Behari Lal Engineering list?+

Listing took place on 19 Aug 2026 on NSE, BSE.

Where will Behari Lal Engineering be listed?+

Behari Lal Engineering is listed on NSE, BSE. It is a mainboard issue.

How large is the Behari Lal Engineering IPO?+

The issue size is ₹301.62 Cr — a fresh issue of ₹93 cr and an offer for sale of ₹208.62 cr. Figures are indicative and subject to the RHP.

What is the difference between the fresh issue and the offer for sale in the Behari Lal Engineering IPO?+

Money raised through the fresh issue goes to the company, which spends it on the purposes set out in the offer document. Money raised through the offer for sale goes to the shareholders who are selling, not to the company. That is a fact about how the issue is structured, not a view on it.

How was the Behari Lal Engineering IPO subscribed?+

The issue was subscribed 118.07× overall. By category: qib 222.04×, nii 167.95×, small hni 179.26×, big hni 162.29×, retail 54.12×. Subscription figures are as reported by the exchanges.

At what price did Behari Lal Engineering list?+

Behari Lal Engineering listed at ₹465, +63.16% against the issue price.

Who is the registrar for the Behari Lal Engineering IPO?+

The registrar to the issue is MUFG Intime India Pvt.Ltd. (022-49186000), beharilalengineering.ipo@in.mpms.mufg.com.

Where can I check the Behari Lal Engineering IPO allotment status?+

Allotment status is published by the registrar on its own official portal: https://in.mpms.mufg.com/Initial_Offer/public-issues.html. Use the registrar's site directly — BuyUnlistedShares does not ask for PAN, application numbers or any other applicant detail.

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Dates, price band, lot size, issue size and subscription figures are indicative and subject to the official Red Herring Prospectus (RHP). Application amounts shown in the fare table are arithmetic on the lot size and the upper band against SEBI's category thresholds — they are not an application facility and we do not accept IPO applications. GMP is unofficial grey-market chatter that changes daily — not a target, not a quote and not a recommendation. This page is information only: it is not an offer to deal and not investment advice. BuyUnlistedShares provides information and research, not buy/sell recommendations. All IPOs carry market risk — read the RHP and assess suitability before applying.
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