Behari Lal IPO Oversubscribed: 2X Demand!

Behari Lal Engineering's IPO opened on August 12, 2026, and has already seen substantial interest, with bids for 1.50 crore shares against the 74.12 lakh shares available, resulting in an oversubscription of 2.03 times.

The company, a specialist in integrated iron and steel manufacturing, intends to utilize the net proceeds from its fresh issue for strategic investments. Approximately Rs 19.589 crore and Rs 36.650 crore are earmarked for the purchase and installation of new equipment and associated civil works at its manufacturing facilities 1 and 2, respectively.

Further funds will be directed towards installing new rooftop solar panels at both manufacturing facilities, with Rs 3.40 crore allocated to each. A smaller portion, Rs 0.57 crore, will be used for debt repayment, with the remainder designated for general corporate purposes.

Prior to the public offering, Behari Lal Engineering secured Rs 90.48 crore from anchor investors on August 11, 2026, who were allotted 31.74 lakh shares at Rs 285 each. The IPO, with a price band of Rs 271 to Rs 285 per share, will close on August 14, 2026. The company reported a consolidated net loss of Rs 64.64 crore on sales of Rs 534.03 crore for the twelve months ending March 31, 2026.