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Behari Lal Engineering IPO
Price Band
₹271.0–285.0
Issue Size
₹301.62 Cr
Lot Size
52 shares
Min Investment
₹14,820
GMP
+₹133.0 (46.67%)
Issue Price
₹285.0
Subject to Sauda
₹5300
Paid only if allotted
Behari Lal Engineering IPO AI Summary
- Behari Lal Engineering IPO is listed on BSE, NSE in the Iron & Steel Products sector.
- Price band: ₹271.0–₹285.0 per share, lot size 52 shares (min. investment ₹14,820).
- Subscription window: 12 Aug–14 Aug 2026, listing on 19 Aug 2026.
- Current GMP is +₹133.0 (46.67%), an estimated listing price of ₹418 — unofficial and can change daily.
Behari Lal Engineering Ltd. is set to list on the stock exchange following a successful IPO, with strong subscription levels across all categories. The company's financial performance shows a positive trend in revenue and profit, making it an interesting prospect for investors.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Behari Lal Engineering IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 14 Aug 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
118.07x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
222.04x
|
222x 🔥 |
| NII (HNI) |
167.95x
|
168x 🔥 |
| ↳ bNII (>₹10L) |
162.29x
|
162x 🔥 |
| ↳ sNII (<₹10L) |
179.26x
|
179x 🔥 |
| Retail (RII) |
54.12x
|
54x ✓ |
| Total | 118.07x | 118.07x |
Auto-updated every 5 min · As of 14th Aug 2026 18:56
Behari Lal Engineering IPO Grey Market Premium (GMP) Today
GMP
+₹133.0
GMP %
+46.67%
Est. Listing
₹418.0
Updated: 19 Aug 2026 09:30
GMP Trend (Last 12 Days)
About the Company
Incorporated in 1995, Behari Lal Engineering Ltd. is an integrated iron and steel manufacturing company specialising in customised engineering solutions. The company manufactures precision-engineered components for critical industrial applications, including: Metal Rolls across grades such as alloy cast steel, alloy steel base adamite, graphitic steel, and S.G. iron pearlitic. Engineering Castings ranging from 500 kg to 20 MT for industries such as steel, iron, mining, aggregate crushers, power, and sugar. Alloy Steel Products, including carbon, alloy, and stainless steel bars in sections such as rounds, flats, hex, and round corner squares, with sizes from 6 mm to 230 mm, along with tool and valve steel. Forging Ingots and Forged Shafts/Blocks for use as raw materials in open-die and closed-die forging applications. As of March 31, 2025, the company has catered to 1,681 domestic and international customers. Its customer base includes Amba Shakti Industries, BMW Industries, Shyam Metallics and Energy, Laxcon Steels, MSP Steel & Power, Jai Balaji Industries, Propel Industries, and Metso India, among others. The manufacturing operations comprise two units in Mandi Gobindgarh, Punjab, spread across approximately 790,000 sq. ft. with a combined installed capacity of 119,464 MT, including finished steel processing capacity of 54,464 MT and rolling mill capacity of 65,000 MT. As of August 31, 2025, the company employed 774 trained employees.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 367.87 | 295.98 | 262.08 |
| Total Income | 546.52 | 516.30 | 449.96 |
| Profit After Tax | 64.64 | 52.95 | 35.79 |
| EBITDA | 101.32 | 81.31 | 60.99 |
| NET Worth | 306.10 | 241.62 | 193.66 |
| Reserves and Surplus | 267.06 | 233.81 | 186.13 |
| Total Borrowing | 17.78 | 7.58 | 41.21 |
Key Ratios
EPS
₹16.56
NAV
₹78.41
ROE
23.60%
ROCE
27.11%
RoNW
21.12%
P/B Value
3.63
P/E Ratio
17.21
Market Cap
₹1205.62 Cr
PAT Margin
12.10%
Debt/Equity
0.06
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Kennametal India Ltd. | 340.02 | 13.7% | 62.02 | 46.82 | 46.82 |
| IFGL Refractories Ltd. | 163 | 7.93% | 43.46 | 4.81 | 4.81 |
| Vardhman Special Steel Ltd. | 132.11 | 9.59% | 23.19 | 13.15 | 13.13 |
| RHI Magnesita India Ltd. | 172.42 | -10.81% | — | -18.54 | -18.54 |
| Steelcast Ltd. | 39.03 | 21.89% | 37.99 | 8.58 | 8.58 |
| AIA Engineering Ltd. | 859.98 | 15.53% | 34.43 | 136.11 | 136.11 |
| Jayaswal Neco Industries Ltd. | 29.26 | 16.39% | 18.48 | 4.77 | 4.77 |
| Behari Lal Engineering Ltd. This IPO | 78.41 | 21.12% | — | 16.56 | 16.56 |
Promoters
Parkash Chand Garg, Rajesh Garg, Dinesh Garg, Lovlish Garg, Bhuvnesh Garg
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 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 1 19.59 2 purchase and installation of new roof-top solar panels at Manufacturing Facility 1 3.40 3 purchase and installation of new equipment / machinery along with civil work for such installation at Manufacturing Facility 2 36.65 4 purchase and installation of new roof-top solar panels at Manufacturing Facility 2 3.40 5 Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company 0.57 6 General Corporate Purposes Total 63.61
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹449.96 Cr in the year ending 31 Mar 2024, increasing to ₹516.30 Cr by 31 Mar 2025, and further rising to ₹546.52 Cr by 31 Mar 2026.
Profit Trend
Profit after tax was ₹35.79 Cr for the year ending 31 Mar 2024, which grew to ₹52.95 Cr by 31 Mar 2025, and further increased to ₹64.64 Cr by 31 Mar 2026.
Valuation
Behari Lal Engineering Ltd. has an implied P/E ratio of 17.21 at the issue price, compared to peers trading at P/E ratios ranging from 18.48 to 62.02.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO in the stock market compared to its issue price. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite. Investors often look at GMP as a gauge of market sentiment towards an IPO.
Subscription Demand
The IPO saw strong demand, with total subscriptions reaching 118.07 times as of 14th August 2026. The institutional category (QIB) was subscribed 222.04 times, while the retail category (RII) was subscribed 54.12 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment strategy and risk tolerance. Factors to consider include the company's growth potential, industry position, and financial health.
Who May Want to Wait
Investors who prefer stable, established companies with consistent earnings may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties associated with new listings.
IPO Timeline, Explained
The IPO opens for subscription from 12th August 2026 and closes on 14th August 2026. Allotment of shares is expected to be finalized by 17th August 2026, with listing on the stock exchange anticipated on 19th August 2026.
Listing Gains — The Risk
Listing gains refer to the potential profit an investor can make by selling shares on the listing day at a price higher than the issue price. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock on the day of listing.
This evaluation is generated from Behari Lal Engineering's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Behari Lal Engineering IPO GMP today?
Behari Lal Engineering IPO GMP today is +₹133.0 (46.67%), indicating an estimated listing price of ₹418. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Behari Lal Engineering IPO?
The price band of Behari Lal Engineering IPO is ₹271.0–₹285.0 per share.
When does Behari Lal Engineering IPO open and close?
Behari Lal Engineering IPO opens on 12 August 2026 and closes on 14 August 2026.
When does Behari Lal Engineering IPO list on the stock exchange?
Behari Lal Engineering IPO listed on 19 August 2026 at ₹418.0.
What is the lot size for Behari Lal Engineering IPO?
The lot size for Behari Lal Engineering IPO is 52 shares, requiring a minimum investment of ₹14,820.
What is the price band for the IPO?
The price band for the IPO is ₹271.0 to ₹285.0.
What is the minimum investment required?
The minimum investment required is ₹14,820.
What is the lot size for the IPO?
The lot size for the IPO is 52 shares.
When is the listing date for the IPO?
The listing date for the IPO is 19th August 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
12 Aug 2026
Close
14 Aug 2026
Allotment
17 Aug 2026
Listing
19 Aug 2026
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