Behari Lal Engineering has raised ₹90.48 crore from nine anchor investors ahead of its ₹301.62 crore initial public offering (IPO). The public issue opens for subscription from August 12 to August 14, 2026, with a price band of ₹271-285 per share. The company will use funds for machinery expansion and debt repayment, while investors monitor the cyclical nature of the steel industry.
Behari Lal Engineering, a Punjab-based manufacturer of iron and steel components, has successfully raised ₹90.48 crore from nine anchor investors ahead of its initial public offering (IPO). This funding round involves several notable participants, including WhiteOak Capital, Bandhan Mutual Fund, 360 ONE, and Singularity AMC. The anchor investors were allocated 31.74 lakh equity shares at the upper end of the price band, which is set at ₹285 per share.
The company’s IPO is scheduled to open for public subscription from August 12, 2026, and will close on August 14, 2026. The total IPO size stands at ₹301.62 crore. This amount includes a fresh issue of shares worth ₹93 crore, which is intended to raise capital for the company, and an offer-for-sale (OFS) of ₹208.62 crore. In the offer-for-sale portion, existing promoters and the investor SG Tech Engineering will sell their stakes, meaning the money from this part of the sale goes to the selling shareholders rather than the company.
Behari Lal Engineering specializes in the production of metal rolls, engineering castings, and alloy steel products used by industries such as automotive, power, and heavy engineering. Financial data for the year ended March 2026 shows the company reported revenue of ₹534 crore and a net profit of ₹64.6 crore. The company plans to use the proceeds from the fresh issue primarily for buying and installing new equipment, machinery, and rooftop solar panels at its manufacturing facilities in Punjab. A smaller portion of approximately ₹57 lakh is earmarked for paying down existing debt.
While the company has shown growth, investors often look at the risks associated with the iron and steel industry. The sector is highly sensitive to economic cycles, meaning demand for steel products can change significantly based on global and local economic health. Additionally, the company faces intense competition in its segment, which can put pressure on profit margins. Some market reviewers have also pointed out that the issue is priced relative to its peers, which means investors will watch whether the stock can maintain its value after listing.
Shares of Behari Lal Engineering are tentatively scheduled to list on the stock exchanges on August 19, 2026. The final listing performance will depend on the subscription demand during the three-day bidding window and general market sentiment at the time.