Behari Lal Engineering Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹285
Per ShareLot Size
52 Shares
Minimum Investment
₹14,820
Issue Size
₹301.62 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Behari Lal Engineering Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
88.51%
Promoter Holding (Post-Issue)
70.83%
Issue Type
Book Building
ISIN
INE1EEM01017
About the Company
We are an integrated iron and steel manufacturing company specializing in customized engineering solutions. According to CRISIL, we are one of India's largest metal rolls producers and a leading player in the metal rolls meeting 10.00-11.5% of the country's demand in Fiscal 2026. Our precision engineered components for critical industrial applications comprise.
Company History
Our Company was originally incorporated as `Behari Lal Ispat Private Limited', at Jalandhar, Punjab as a private limited company under the Companies Act, 1956 and received a certificate of incorporation issued by the Registrar of Companies, Punjab, H.P. & Chandigarh on May 23, 1995. Subsequently, the name of our Company was changed to `Behari Lal Engineering Private Limited' pursuant to a special resolution passed by the shareholders of our Company on August 5, 2024, and a fresh certificate of incorporation issued by the RoC on September 4, 2024. Thereafter, our Company was converted into a public limited company pursuant to a resolution passed by the Shareholders of our Company passed in their meeting on August 5, 2024, and the name of our Company was changed to its present name `Behari Lal Engineering Limited', pursuant to a fresh certificate of incorporation issued by the RoC on September 21, 2024.
Growth Strategy
- Augmenting increasing our installed capacity in line with our expected business growth.
- Optimising our product portfolio to cater more to higher value products and value added products.
- Broaden our end-user industries base and export market by capitalizing on growth in the metal rolls and engineering casting industry.
- Increasing our wallet share with our customers by introducing new products and grades.
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 10,583,158 equity shares of face value of Rs. 10 each (Equity Shares) of Behari Lal Engineering Limited (Company) for cash at a price of Rs. 285 per equity share (Including a Share Premium of Rs. 275 Per Equity Share) (Offer Price) aggregating up to Rs. 301.62 Crore (Offer) comprising a fresh issue of 3,263,157 equity shares of face value of Rs. 10 each aggregating Rs. 93 Crore by the company (Fresh Issue) and an offer for sale of 7,320,001 equity shares of face value of Rs. 10 each aggregating Rs. 208.62 Crore by the selling shareholders (Offer For Sale) comprising 1,943,623 equity shares of face value of Rs. 10 each aggregating Rs.55.39 Crore by Rajesh Garg, 350,000 equity shares of face value of Rs. 10 each aggregating Rs. 9.98 Crore by Lovlish Garg (Collectively, `Promoter Selling Shareholders'), 2,143,623 equity shares of face value of Rs. 10 each aggregating Rs. 61.09 Crore by Yogita Garg, 150,000 equity shares of face value of Rs. 10 each aggregating Rs. 4.28 Crore by Dinesh Kumar Garg Huf (Collectively, `Promoter Group Selling Shareholders') and 2,732,755 equity shares of face value of Rs. 10 each aggregating Rs. 77.88 Crore by SG Tech Engineering Private Limited (investor selling shareholder, together with promoter selling shareholders and promoter group selling shareholders, `Selling Shareholders', and such equity shares, the offered shares). The offer constituted 25.02% of the post-offer paid-up equity share capital of the company. Price Band: Rs. 285 per equity share of face value of Rs. 10 each. The floor price is 28.50 times the face value of the equity shares. Bids can be made for a minimum of 52 equity shares of face value of Rs. 10 each and in multiples of 52 equity shares of face value of Rs. 10 each thereafter.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Long standing relationships with a large number of customers spread across a wide array of end-user industries with stringent qualification processes.
- Diversified product portfolio catering to varied application industries.
- Strategically located Manufacturing Facilities with advanced equipment and robust overlapping processes which enables high capacity utilisation.
- Robust presence in the steel manufacturing industry leveraging on the legacy and experience of our Promoters and strong domain expertise of our management team.
- Track record of financial performance and consistent growth.
- The company generates significant revenues from its top 10 customers, and in Fiscals 2026, 2025 and 2024, revenue from the company's top 10 customers was Rs. 2,029.21 million, Rs. 2,027.16 million and Rs. 1,686.51 million constituting 38.00%, 39.91% and 37.81%, respectively, of its revenue from operations. The company does not enter into long term contracts with its customers and the loss of such customers or a significant reduction in the company's revenue from such customers will have a material adverse impact on its business and financial condition.
- The company's success depends on its continuing relationship with the company's customers and its derives a significant majority of the company's revenue from repeat customers. In Fiscals 2026, 2025 and 2024, revenue from repeat customers was Rs. 4,522.77 million, Rs. 4,372.98 million and Rs. 3,570.50 million constituting 84.69%, 86.10% and 80.04%, respectively, of the company's revenue from operations. Loss of one or more of its repeat customers or reduction in their demand for the company's offerings could adversely affect its business, results of operation and financial conditions.
- The company caters to diverse end use industries and customers in the automobile, infrastructure, Aggregate Crusher Manufacturer (ACM) and engineering (industrial equipment) which contributed an aggregate of Rs. 2,063.85 million, Rs. 1,104.50 million, Rs. 980.15 million and Rs. 899.96 million to the company's revenue from operations constituting 38.65%, 20.68%, 18.35% and 16.85% of its total revenue from operations during Fiscal 2026, respectively. Any adverse impact on these industries or result in the loss of customers in these end use industries could have an adverse effect on the company's business, revenue from operations and financial condition.
- A substantial proportion of the company's sales is concentrated in India and sales to customers in India and its revenues from sales to customers in India was Rs. 4,860.47 million, Rs. 4,859.33 million, and Rs. 4,245.17 million constituting 91.02%, 95.67% and 95.17% of the company's revenue from operations in Fiscals 2026, 2025 and 2024. Any inability to maintain and grow its revenues from the company's sales in India may have an adverse effect on the company's business, financial condition, result of operation, cash flows and future business prospects.
- The cost of raw materials, including through imports, constitutes the largest component of its expenses and cost of material consumed was Rs. 2,806.58 million, Rs. 2,716.46 million, and Rs. 2,745.21 million constituting 61.02%, 60.78% and 68.62%, of the company's total expenses during Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. Substantial delay or failures to procure necessary raw materials could have an adverse impact on its operations and the company's ability to meet its customer obligations which could adversely impact on the company's business and its revenue.