Behari Lal Engineering Limited Raises Rs 90.48 Crore from Anchor Investors
Strong institutional participation sets stage for maiden public offering
POSTED BY:- Poonam S. Juthani
DT:-11/08/2026
9867490397
Mumbai, 11 August 2026: Behari Lal Engineering Limited, an integrated iron and steel manufacturing company specialising in customised engineering solutions, has raised Rs 90.48 crore from anchor investors ahead of its initial public offering, which opens for public subscription on Wednesday, August 12, 2026.
The company informed the stock exchanges that it has allocated 3,17,946 equity shares at Rs 285 per share to anchor investors. Marquee institutions participating in the anchor allocation include Tata AIA Life Insurance Company Ltd A/C Flexi Growth Fund ULIP, PineBridge Global Funds – PineBridge India Equity Fund and Amicorp Capital (Mauritius) Limited.
Among equity-oriented schemes, the company has allocated shares to WhiteOak Capital Balanced Advantage Fund, Bandhan Large & Mid-Cap Fund and Dynasif Equity – Ex Top 100 Long Short Fund. Of the total 3,17,946 equity shares allocated to anchor investors, 10,87,718 equity shares were allocated to three domestic mutual funds through three schemes.
Emkay Global Financial Services Limited and Systematix Corporate Services Limited are the book-running lead managers, while MUFG Intime India Private Limited is the registrar of the offer. The equity shares are proposed to be listed on BSE and NSE.
IPO Details
Behari Lal Engineering Limited has fixed the price band for its maiden IPO at Rs 271 to Rs 285 per equity share of face value Rs 10 each. The IPO will open on Wednesday, August 12, 2026, and close on Friday, August 14, 2026. Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter.
The offer comprises a fresh issue aggregating up to Rs 93 crore and an offer-for-sale of up to 73,20,001 equity shares by promoters Rajesh Garg, Lovlish Garg, Yogita Garg and Dinesh Kumar Garg HUF, along with investor selling shareholder SG Tech Engineering Private Limited.
Fresh issue proceeds will be utilised towards equipment and machinery and civil work at manufacturing facilities 1 and 2, rooftop solar panels at both facilities, repayment or prepayment of certain borrowings, and general corporate purposes.
The offer is being made through the book-building process, with not more than 50% of the net offer allocated to QIBs and not less than 15% and 35% allocated to NIIs and retail individual bidders respectively.
Company Information
Incorporated in 1995, Behari Lal Engineering is an integrated iron and steel manufacturer specialising in customised engineering solutions. According to CRISIL, it is among India’s largest metal rolls producers, meeting 10–11.5% of the country’s metal rolls demand in FY2026.
The company manufactures metal rolls, engineering castings, alloy steel products and forging ingots for industries including steel, power and heavy engineering. It operates two manufacturing facilities in Mandi Gobindgarh, Punjab, and has commenced construction of a third facility in Mandi Gobindgarh, District Fatehgarh Sahib, Punjab.
