Behari Lal Engineering
Demand
Red-hot
subscribed 118.07x overall
Grey market
+46.7%
implied listing pop
History says
+36.3%
median at this premium · middle half +28% to +48% · n=60
Listed
+60.7%
day-1 close +76.3% vs issue
Latest GMP
₹133
grey-market premium
Implied pop
+46.7%
GMP over issue price
History says
+36.3%
median actual listing at this GMP (n=60)
Range of outcomes
middle half of 60 listings at this GMP
GMP trend
14 street quotes since 08/18
Final Subscription
Subscribed 118.07xoverall · last updated 2026-08-27 00:45 UTC
| Category | Shares reserved | 24-08 | 26-08 | 27-08 | |||
|---|---|---|---|---|---|---|---|
| Shares bid | Times | Shares bid | Times | Shares bid | Times | ||
| ∟QIB (Ex Anchor) | 15,16,633 | 33,67,52,156 | 222.04× | 33,67,52,156 | 222.04× | 33,67,52,156 | 222.04× |
| NII | 15,87,474 | 26,66,13,412 | 167.95× | 26,66,13,412 | 167.95× | 26,66,13,412 | 167.95× |
| ∟bNII (> ₹10L) | 10,58,316 | 17,17,57,300 | 162.29× | 17,17,57,300 | 162.29× | 17,17,57,300 | 162.29× |
| ∟sNII (< ₹10L) | 5,29,158 | 9,48,56,112 | 179.26× | 9,48,56,112 | 179.26× | 9,48,56,112 | 179.26× |
| Retail | 37,04,105 | 20,04,62,756 | 54.12× | 20,04,62,756 | 54.12× | 20,04,62,756 | 54.12× |
| Total | 68,08,212 | 80,38,28,324 | 118.07× | 80,38,28,324 | 118.07× | 80,38,28,324 | 118.07× |
Allotment odds (1 lot lottery once oversubscribed) — Retail: ≈ 1 in 55 applicants · Small NII: ≈ 1 in 180 applicants · Big NII: ≈ 1 in 163 applicants
Allotment Probability
Retail · subscribed 54.12x
2%
Small HNI (sNII) · subscribed 179.26x
1%
Big HNI (bNII) · subscribed 162.29x
1%
Chance of winning at least one lot per application, from the shares reserved for the category vs current demand. QIB allots pro-rata, not by lottery. Demand can spike on the final day.
📋Issue Details
| Offer Type | Bookbuilding IPO |
| Sale Type | Fresh capital cum OFS |
| Listing At | BSE, NSE |
| Face Value | ₹ 10 per share |
| Price Band | ₹271 to ₹285 |
| Lot Size | 52 shares |
| Total Issue Size | 1,05,83,158 shares (agg. up to ₹ 302 Cr) |
| Fresh Issue | 32,63,157 shares (agg. up to ₹ 93 Cr) |
| Offer for Sale | 73,20,001 shares of ₹ 10 (agg. up to ₹ 209 Cr) |
| Scrip / Symbol | 544870 / BLEL |
| ISIN | INE1EEM01017 |
🗓️IPO Schedule
Open
Wed, Aug 12, 2026
Close
Fri, Aug 14, 2026
Allotment
Mon, Aug 17, 2026
Refunds
Tue, Aug 18, 2026
Demat credit
Tue, Aug 18, 2026
Listing
Wed, Aug 19, 2026
🏛️Pre & Post Issue Capital
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 88.51% | 70.84% |
| Public | 11.49% | 29.16% |
| Total | 100% | 100% |
💰Valuation & Market Cap
| EPS(₹) (pre → post) | 16.56 → 15.28 |
| P/E (x) (pre → post) | 17.21 → 18.65 |
| Market Cap at Offer Price | ₹2,124.43 Cr |
📊Company Financials ₹ crore
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 367.87 | 295.98 | 262.08 |
| Total Income | 546.52 | 516.30 | 449.96 |
| Profit After Tax | 64.64 | 52.95 | 35.79 |
| EBITDA | 101.32 | 81.31 | 60.99 |
| NET Worth | 306.10 | 241.62 | 193.66 |
| Reserves and Surplus | 267.06 | 233.81 | 186.13 |
| Total Borrowing | 17.78 | 7.58 | 41.21 |
🎯Key Performance Indicators
| ROE | 23.60% |
| ROCE | 27.11% |
| Debt/Equity | 0.06 |
| RoNW | 21.12% |
| PAT Margin | 12.10% |
| EBITDA Margin | 18.97% |
| NAV | 78.41 |
| Price to Book Value | 3.63 |
🤝Recently Listed PeersIron & Steel Products
| Company | Issue price | P/E | Listing-day close |
|---|---|---|---|
| Rajputana Stainless Ltd. | ₹122 | 21.1 | ₹113.03 |
| VMS TMT Ltd. | ₹99 | 22.24 | ₹99.65 |
| Anubhav Plast Ltd. | ₹80 | 10.67 | ₹76.00 |
| Kasturi Metal Composite Ltd. | ₹64 | 23.59 | ₹63.16 |
| Shri Kanha Stainless Ltd. | ₹90 | 16.23 | ₹83.60 |
| Mittal Sections Ltd. | ₹143 | 31.15 | ₹108.70 |
| M P K Steels (I) Ltd. | ₹79 | 9.04 | ₹83.50 |
Lot Size — what an application costs
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 52 | ₹14,820 |
| Retail (Max) | 13 | 676 | ₹1,92,660 |
| S-HNI (Min) | 14 | 728 | ₹2,07,480 |
| S-HNI (Max) | 67 | 3,484 | ₹9,92,940 |
| B-HNI (Min) | 68 | 3,536 | ₹10,07,760 |
Issue Reservation
| Category | Shares | % of issue | Max allottees |
|---|---|---|---|
| QIB | 52,91,578 | 50.00% | NA |
| − Anchor Investor | 31,74,946 | 30.00% | NA |
| − QIB (Ex. Anchor) | 21,16,632 | 20.00% | NA |
| NII (HNI) | 15,87,474 | 15.00% | NA |
| − bNII > ₹10L | 10,58,316 | 10.00% | 1,453 |
| − sNII < ₹10L | 5,29,158 | 5.00% | 726 |
| Retail | 37,04,106 | 35.00% | 71,232 |
| Total | 1,05,83,158 | 100.00% | – |
🔔Listing Day
Issue price
₹285
Listing open
₹458
Open vs issue
+60.7%
Day-1 close
+76.3%
vs issue price
GMP trend
| Date | GMP ₹ | Implied |
|---|---|---|
| 2026-08-20 | 133 | +46.7% |
| 2026-08-20 | 133 | +46.7% |
| 2026-08-19 | 133 | +46.7% |
| 2026-08-19 | 133 | +46.7% |
| 2026-08-19 | 133 | +46.7% |
| 2026-08-19 | 133 | +46.7% |
| 2026-08-19 | 133 | +46.7% |
| 2026-08-19 | 133 | +46.7% |
| 2026-08-19 | 133 | +46.7% |
| 2026-08-19 | 105 | +36.8% |
| 2026-08-18 | 105 | +36.8% |
| 2026-08-18 | 105 | +36.8% |
| 2026-08-18 | 105 | +36.8% |
| 2026-08-18 | 105 | +36.8% |
🏢About Behari Lal Engineering
Behari Lal Engineering IPO is a book build issue of ₹301.62 crores. The issue is a combination of fresh issue of 0.33 crore shares aggregating to ₹93.00 crores and offer for sale of 0.73 crore shares aggregating to ₹208.62 crores.
Behari Lal Engineering IPO bidding started from Aug 12, 2026 and ended on Aug 14, 2026. The allotment for Behari Lal Engineering IPO was finalized on Aug 17, 2026. The shares got listed on NSE and BSE on Aug 19, 2026.
Behari Lal Engineering IPO is set final issue price at ₹285 per share. The lot size for an application is 52 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,820 (52 shares) (based on upper price).
Emkay Global Financial Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
🎯Objects of the Issue
| Object | ₹ Cr |
|---|---|
| Funding capital expenditure requirement for purchase and installation of new equipment / m | 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 inst | 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 Compa | 0.57 |
| General Corporate Purposes | 19.06 |
| Issue Expenses | 31.97 |
👥Selling Shareholders
| Name | Category | Shares offered |
|---|---|---|
| Rajesh Garg | Promoter | 19,43,623 |
| Lovlish Garg | Promoter | 3,50,000 |
| Yogita Garg | Promoter | 21,43,623 |
| Dinesh Kumar Garg (HUF) | Promoter | 1,50,000 |
| SG Tech Engineering Pvt.Ltd. | Corporate | 27,32,755 |
| Total | 73,20,001 |
💼Lead Managers
- • Emkay Global Financial Services Ltd.
- • Systematix Corporate Services Ltd.
🗳️Registrar
- • MUFG Intime India Pvt.Ltd.
- allotment status is checked on the registrar's portal
🏢Registered Office
📍 Village Salani, Amloh Road, Mandi Gobindgarh, Fatehgarh Sahib, Punjab, 147301
📞 +91 17655 20694
✉️ cs@beharilalgroup.co
Grey-market numbers are unofficial street quotes, aggregated across sources. Not investment advice.