Behari Lal Engineering Limited’s IPO Subscribed 2.03 Times on Day 1 of IPO
Behari lal Subscribe
POSTED BY : ANAGHA SAKPAL DATED ON : 12/08/2026 (9004379946)
Mumbai (RMN.COM) : The Initial Public Offering of Behari Lal Engineering Limited was subscribed 2.03 times on the day one of bidding, demonstrating strong demand from retail and non-institutional investors for this IPO.
The issue received bids of 1,50,37,516 equity shares against the offered 74,12,769 equity shares, according to data available on the stock exchanges.
Retail Portion and Non-institutional portion were subscribed 2.70 times and 2.11 times respectively. Qualified Institutional Buyers (QIB) was subscribed 0.73 times.
The issue kicked off for subscription on Wednesday, August 12, 2026, and will close for subscription on Friday, August 14, 2026.
A day before the opening of the issue, Behari Lal Engineering Limited had raised nearly Rs 90.48 crore from anchor investors.
Brokerage houses recommend Behari Lal Engineering Limited
Leading brokerage firms like Adroit Financial, Anand Rathi, BP Wealth, SBI Securities and Ventura Securities have given their “Subscribe” recommendation to Behari Lal Engineering Limited, which is an integrated iron and steel manufacturing company specializing in customized engineering solutions.
Anand Rathi highlights the company is an integrated iron and steel manufacturing company based in Mandi Gobindgarh, Punjab, specializing in customized engineering solutions and precision-engineered components for critical industrial applications.
On the valuation front, at the upper price band, the company is valued at a P/E of 18.6 times and EV/EBITDA of 13.3x with its FY26 earnings. Recommend a “Subscribe” rating for long- term.
SBI Securities highlights the company’s product portfolio is broadly classified into four categories, namely, metal rolls, engineering castings, alloy steel products and forging ingots & forged shafts/blocks.
On the valuation front, at the upper price band of Rs 285, the issue is valued at FY26 P/E multiple of 18.7 times based on post-issue capital. Recommend “Subscribe” to the issue at the cut-off price.
IPO Details
Behari Lal Engineering Limited has fixed the price band of Rs 271/- to Rs 285/- per Equity Share of face value Rs 10/- each for its maiden initial public offer.
The issue kicked off for subscription on Wednesday, August 12, 2026, and will close for subscription on Friday, August 14, 2026.
Investors can bid for a minimum of 52 Equity Shares and in multiples of 52 Equity Shares thereafter.
The table below shows subscription data for all the categories of investors:
