GMP IPO Watch
Behari Lal Engineering IPO 2026: Custom Steel Engineering, 5.33× Subscription, Margin Growth and Investment Analysis
Behari Lal Engineering IPO is open from August 12 to 14, 2026 at ₹271–₹285 per share. Expl...
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B
Mainboard IPO
LISTED
BSE, NSE
BEHARILAL
Behari Lal Engineering IPO
Behari Lal Engineering IPO details, live grey market premium (GMP), dates, price band, lot size, subscription & review.
Live GMP Today
₹133
+46.7%
Est. Listing: ₹418.00
Price Band
₹271 - ₹285
Per equity share
Lot Size
52 Shares
Min Invest: ₹14,820
Issue Size
₹301.62 Cr
Total Public Offering
Issue Dates
11 August 2026 – 13 August 2026
Bidding period
Subscription
108.44x
Total overall demand
Behari Lal Engineering IPO Details
Key facts at a glance| IPO Open Date | 11 August 2026 | IPO Close Date | 13 August 2026 |
|---|---|---|---|
| Basis of Allotment | 16 August 2026 | Listing Date | 18 August 2026 |
| Price Band | ₹271 - ₹285 per share | Face Value | ₹10 per share |
| Market Lot Size | 52 Shares | Min Investment (Retail) | ₹14,820 |
| Total Issue Size | ₹301.62 Cr | Issue Type | Book Built Issue IPO |
| Fresh Issue | — | Offer for Sale (OFS) | — |
| Listing At | BSE, NSE | Issue Category | Mainboard Issue |
| Registrar | TBA | ||
Behari Lal Engineering IPO Timetable (Tentative Dates)
| Event | Tentative Date | Status |
|---|---|---|
| IPO Open Date | 11 August 2026 | Confirmed |
| IPO Close Date | 13 August 2026 | Confirmed |
| Basis of Allotment | 16 August 2026 | Tentative |
| Initiation of Refunds | 18 August 2026 | Tentative |
| Credit of Shares to Demat | 18 August 2026 | Tentative |
| IPO Listing Date | 18 August 2026 | Tentative |
| Cut-off time for UPI Mandate Confirmation | 14 August 2026 (5:00 PM) | Deadline |
* Note: Timelines are tentative and subject to regulatory confirmation. UPI mandate approvals must be completed by 5:00 PM on the IPO closing day.
Behari Lal Engineering IPO Lot Size & Investment Details
Application limits for Retail and HNI investors| Application Category | Lots | Shares | Amount (at Cut-off) |
|---|---|---|---|
| Retail (Min) | 1 Lot | 52 Shares | ₹14,820 |
| Retail (Max) | 13 Lots | 676 Shares | ₹1,92,660 |
| S-HNI (Min) | 14 Lots | 728 Shares | ₹2,07,480 |
| S-HNI (Max) | 67 Lots | 3,484 Shares | ₹9,92,940 |
| B-HNI (Min) | 68 Lots | 3,536 Shares | ₹10,07,760 |
Behari Lal Engineering IPO Live GMP & Movement History
Daily unofficial grey market trends
Current Grey Market Premium
₹133 +46.7%
Estimated Listing Price
₹418.00
| Date | IPO GMP (₹) | Estimated Listing Price | Estimated Listing Gain (%) |
|---|---|---|---|
| 13 Aug 2026 | ₹74 | ₹359.00 | +25.96% |
| 12 Aug 2026 | ₹67 | ₹352.00 | +23.51% |
Disclaimer: Grey Market Premium (GMP) figures are purely unofficial and indicative rates traded in the unregulated grey market. GMP is highly volatile and does not guarantee the actual listing price. Always consult a SEBI registered investment advisor before bidding.
Behari Lal Engineering IPO Subscription Status
Demand breakdown by investor category
Retail
53.27x
QIB
165.33x
NII / HNI
165.31x
Total
108.44x
About Behari Lal Engineering
Behari Lal Engineering Limited is an integrated steel manufacturing and trading enterprise specializing in customized iron and steel products for various engineering applications. The company’s core business involves manufacturing and selling a diverse range of items tailored to customer-specific requirements, establishing it as one of India’s leading integrated foundries. Its operations are conducted through integrated facilities in Punjab, including a Steel Melt Shop, Foundry, and Rolling Mill divisions. Key products include forging ingots and forged shafts, metal rolls, engineering castings, and alloy steel products such as flats, rounds, and squares. The company generates revenue primarily through the domestic and export sale of these products, supplemented by income from job work services. This model allows it to serve a broad range of industrial clients with high-quality, specialized steel solutions.
Key Strengths
- Strategic location in a major steel hub provides seamless access to key raw materials and logistics infrastructure.
- The scale of operations as a large-scale manufacturer of metal rolls offers competitive advantages and cost efficiencies.
- A multi-decade legacy in the steel casting and foundry sector creates a high entry barrier for new competitors.
- Integrated manufacturing facilities with steel melt shop, foundry, and rolling mill divisions under one system.
- Diversified product portfolio with customized forging ingots, forged shafts, metal rolls, and engineering castings.
Key Risks
- Complete operational dependence on facilities based out of a single geographic location in Punjab.
- Heavy reliance on a limited number of top clients for a majority of total business revenue.
- Vulnerability to fluctuations in prices of essential raw materials like steel scrap, pig iron, and alloys.
- Substantial working capital requirements to maintain inventory levels and manage credit cycles.
- Exposed to regulatory compliance risks and stringent environmental safety mandates for foundry operations
Behari Lal Engineering IPO Reservation & Share Quotas
The Behari Lal Engineering IPO has a category-wise reservation structure for Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs). The allocation determines the portion of the net offer available to different categories of investors participating in the IPO.
As per the proposed reservation structure, 50% of the net offer is reserved for Qualified Institutional Buyers, excluding the anchor investor portion. Non-Institutional Investors have a 15% reservation, while 35% of the net offer is reserved for Retail Individual Investors.
| Investor Category | Shares Offered | Reservation (%) |
|---|---|---|
| Anchor Investor | – Shares | -% |
| Qualified Institutional Buyers (QIB) (Excluding Anchor) | – Shares | 50% |
| Non-Institutional Investors (NII) | – Shares | 15% |
| Retail Individual Investors (RII) | – Shares | 35% |
Note: The exact number of equity shares available under each investor category will depend on the final issue structure. The final allotment will be determined after the IPO closes and the basis of allotment is finalized.
Behari Lal Engineering IPO Anchor Investors
The Behari Lal Engineering IPO anchor investor bidding is scheduled for August 11, 2026, one day before the public issue opens for subscription. Anchor investors are institutional investors who receive an allocation from the Qualified Institutional Buyers (QIB) portion of the IPO before bidding begins for other investors.
The final anchor investor list, number of shares allocated, and total anchor allocation amount will be available after completion of the anchor bidding process.
| Particular | Details |
|---|---|
| Anchor Bidding Date | August 11, 2026 |
| Anchor Investors List | To be announced |
| Shares Offered | [.] Shares |
| Anchor Size | [.] Cr. |
| Lock-in Period End Date – 50% Shares (30 Days) | 2026 |
| Lock-in Period End Date – Remaining 50% Shares (90 Days) | 2026 |
Note: The anchor investor list, shares offered, anchor size, and exact 30-day and 90-day lock-in end dates will be updated after the anchor allocation details are officially announced.
Behari Lal Engineering IPO Important Dates
| Particular | Dates |
|---|---|
| IPO Open Date | 12 Aug 2026 |
| IPO Close Date | 14 Aug 2026 |
| Basis of Allotment | 17 Aug 2026 |
| Refunds | - |
| Credit to Demat Account | - |
| IPO Listing Date | 19 Aug 2026 |
Note: The timeline for বিহারী লাল ইঞ্জিনিয়ারিং IPO is tentative and subject to change.
Behari Lal Engineering Promoters and Shareholding Pattern
The promoters of Behari Lal Engineering are Bhuvnesh Garg, Dinesh Garg, Lovlish Garg, Parkash Chand Garg and Rajesh Garg. Prior to the IPO, the promoter and promoter group collectively hold 88.51% of the company's equity share capital, while other shareholders hold the remaining 11.49%.
The promoter and promoter group currently hold 3,45,53,485 equity shares, while other shareholders hold 44,85,840 equity shares. The company's total pre-IPO equity shareholding stands at 3,90,39,325 shares. The post-IPO shareholding figures are currently not available in the provided data.
Promoters of Behari Lal Engineering
- Bhuvnesh Garg
- Dinesh Garg
- Lovlish Garg
- Parkash Chand Garg
- Rajesh Garg
| Particular | Pre IPO Shares | Pre IPO % Shares | Post IPO Shares | Post IPO % Shares |
|---|---|---|---|---|
| Promoter and Promoter Group | 3,45,53,485 | 88.51% | – | -% |
| Others* | 44,85,840 | 11.49% | – | -% |
| Total | 3,90,39,325 | 100% | – | -% |
Note: The above table presents the available pre-IPO shareholding information. The final post-IPO promoter holding and total post-issue share capital can be updated once the relevant shareholding details are available.
Behari Lal Engineering Objects of the Issue & Utilisation of Proceeds
To Be Updated Soon
Behari Lal Engineering About the IPO
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 Company Financial Report
To Be Updated Soon
Behari Lal Engineering Company Valuation & Key Performance Indicators
To Be Updated Soon
Behari Lal Engineering Peer Group Comparison
To Be Updated Soon
Behari Lal Engineering Lead Managers & Merchant Bankers
- Systematix Corporate Services Ltd.
- Emkay Global Financial Services Ltd.
Behari Lal Engineering IPO FAQs
Behari Lal Engineering IPO opens for subscription on 11 August 2026 and closes on 13 August 2026.
The price band for Behari Lal Engineering IPO is set at ₹271.00 to ₹285.00 per share.
The minimum market lot size is 52 shares. A retail investor can apply for a minimum of 1 lot requiring an investment of 52 Shares (₹14,820).
The latest Grey Market Premium (GMP) for Behari Lal Engineering IPO is ₹133. GMP represents the unofficial premium at which shares trade prior to listing.
The basis of allotment for Behari Lal Engineering IPO is tentatively scheduled for 16 August 2026, and shares are expected to list on the stock exchanges on 18 August 2026.
The registrar details will be confirmed in the official prospectus.
Behari Lal Engineering IPO Analysis & Articles
