Behari Lal Engineering (BLEL) IPO ends with 108.44 times subscription

The offer received bids for 80.38 crore shares as against 74.12 lakh shares on offer.

Behari Lal Engineering received bids 80,38,30,040 shares as against 74,12,769 shares on offer. The issue was subscribed 108.44 times.

The qualified institutional buyers' (QIB) portion was subscribed 165.33 times, while the non-institutional investors' (NII) category was subscribed 165.32 times. The retail individual investors' (RII) segment was subscribed 53.27 times.

The issue opened for bidding on 12 August 2026 and closed on 14 August 2026. The price band of the IPO is fixed between Rs 271 and 285 per share.

The issue comprises an offer for sale of 2,59,31,407 equity shares of face value of Rs 10 each and a fresh issue of equity shares aggregating up to 2,59,31,407 shares.

Of the net proceeds from the fresh issue, the company intends to allocate Rs 19.589 crore and Rs 36.650 crore towards the purchase and installation of new equipment, along with civil works for such installation, at Manufacturing Facility 1 and Manufacturing Facility 2, respectively. Further, Rs 3.40 crore each will be utilised towards the purchase and installation of new rooftop solar panels at Manufacturing Facility 1 and Manufacturing Facility 2, respectively. Another Rs 0.57 crore will be utilised towards repayment of borrowings, with the balance earmarked for general corporate purposes.

Behari Lal Engineering (BLEL), promoted by Parkash Chand Garg, is an integrated iron and steel manufacturing company specializing in customized engineering solutions. It has a broad product portfolio comprising inter alia alloy steel products, metal rolls, engineering casting and forging ingots and forged shafts/blocks.

BLEL?s precision-engineered products cater to a wide variety of industrial applications, and they cater to a vast array of industries, including automobiles, steel, cement, mining, infrastructure and construction, power, aerospace and defence. In FY26 revenue from operations, about 38.65% is from automobiles, 20.68% from infrastructure, 18.35% from aggregate crusher manufacturers, 16.85% from industrial equipment manufacturers and 5.47% from others that include aerospace, defence, cement and power.

Ahead of the IPO, Behari Lal Engineering on 11 August 2026, raised Rs 90.48 crore from anchor investors. The board allotted 31.74 lakh shares at Rs 285 each to 11 anchor investors.

The firm reported a consolidated net loss of Rs 64.64 crore and sales of Rs 534.03 crore for the twelve months ended on 31 March 2026.

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