Behari Lal Engineering IPO
Market Sentiment
IPO Details
Market Lot Size
IPO Reservation
Day-wise Subscription (times subscribed)
Financial Analysis
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 449.96 | 516.30 | 546.52 |
| Expense | 400.04 | 446.94 | 459.94 |
| Profit (PAT) | 35.79 | 52.95 | 64.64 |
| Total Assets | 262.08 | 295.98 | 367.87 |
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Jayaswal Neco Industries Limited | 4.77 | 18.48 | 16.39 | 29.26 | 7,131.82 Cr |
| AIA Engineering Limited | 136.11 | 34.43 | 15.53 | 859.98 | 4,419.86 Cr |
| Steelcast Limited | 8.58 | 37.99 | 21.89 | 39.03 | 423.17 Cr |
| RHI Megnesita India Limited | -18.54 | - | -10.81 | 172.42 | 4,019.95 Cr |
| Vardhman Special Steel Limited | 13.15 | 23.19 | 9.59 | 132.11 | 1,754.43 Cr |
| IFGL Refractories Limited | 4.81 | 43.46 | 7.93 | 163.00 | 1,894.25 Cr |
| Kennametal India Limited | 46.82 | 62.02 | 13.70 | 340.02 | 1,170.30 Cr |
Promoters: Bhuvnesh Garg, Dinesh Garg, Lovlish Garg, Parkash Chand Garg and Rajesh Garg
Strengths & Risks
- Heavily oversubscribed — 108.2x overall (so far).
- Strong institutional (QIB) demand — 159.1x.
- Solid profit margin — 11.8%.
- Strong return on equity — 24%.
- Low leverage — debt/equity of 0.06.
- Largely an offer for sale — most proceeds go to selling shareholders, not the company.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Behari Lal Engineering, founded in 1995, is one of the leading iron and steel manufacturing companies with a focus on providing customised engineering solutions. Its product portfolio includes the manufacturing of precision-engineered components such as Metal Rolls, Engineering Castings (ranging from 500 kg to 20 MT, serving steel, iron, mining, aggregate crushers, power, and sugar industries), Alloy Steel Products (rounds, flats, hex, and round corner squares, with sizes from 6 mm to 230 mm), and Forging Ingots and Forged Shafts/Blocks. So far, the firm has served 1825 domestic and international customers, including Amba Shakti Industries, BMW Industries, Shyam Metallics and Energy, Laxcon Steels, MSP Steel & Power, Jai Balaji Industries, Propel Industries, and Metso India, among others.
Behari Lal Engineering Ltd., Village Salani, Amloh Road, Mandi Gobindgarh, Fatehgarh Sahib, Punjab, 147301
| Purpose | Amount (Cr) |
|---|---|
| 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 |
| purchase and installation of new roof-top solar panels at Manufacturing Facility 1 | 3.40 |
| purchase and installation of new equipment / machinery along with civil work for such installation at Manufacturing Facility 2 | 36.65 |
| purchase and installation of new roof-top solar panels at Manufacturing Facility 2 | 3.40 |
| Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company | 0.57 |
| General corporate purposes | - |
Resources & Documents
Behari Lal Engineering has set a price band of Rs 271–Rs 285 per share for an issue size of Rs 302 crore. The stock listed with a 63.16% gain versus its issue price on August 19, 2026.
Behari Lal Engineering, founded in 1995, is one of the leading iron and steel manufacturing companies with a focus on providing customised engineering solutions. Its product portfolio includes the manufacturing of precision-engineered components such as Metal Rolls, Engineering Castings (ranging from 500 kg to 20 MT, serving steel, iron, mining, aggregate crushers, power, and sugar industries), Alloy Steel Products (rounds, flats, hex, and round corner squares, with sizes from 6 mm to 230 mm), and Forging Ingots and Forged Shafts/Blocks.
The issue is promoted by Bhuvnesh Garg, Dinesh Garg, Lovlish Garg, Parkash Chand Garg and Rajesh Garg with Systematix Corporate Services Ltd., Emkay Global Financial Services Ltd. acting as lead manager. Net proceeds will primarily be used towards Funding capital expenditure requirement for: purchase and installation of new equipment / machinery (including computers… (Rs 20 crore) and purchase and installation of new roof-top solar panels at Manufacturing Facility 1 (Rs 3 crore).
On fundamentals, the company is posting revenue growth of 5.9%, a profit margin of 11.8%, return on equity of 23.6% in its most recent reported period. Listed peers in this segment include Jayaswal Neco Industries Limited (P/E 18.48x) and AIA Engineering Limited (P/E 34.43x) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
On our data-signal score, the combined signals for this issue currently read very strong — GMP, subscription demand and fundamentals are all reading positively. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Behari Lal Engineering IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
See the full Behari Lal Engineering GMP history and trend, or learn how grey market premium works and how reliable it is.
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