Behari Lal Engineering shares make a blockbuster debut, list at 63% premium

Behari Lal Engineering share price today: Shares of integrated iron and steel manufacturing company Behari Lal Engineering made a blockbuster debut on the bourses today, listing at premium of more than 60 per cent over the IPO price. 

 

Behari Lal Engineering shares opened at ₹465 on the National Stock Exchange (NSE), up ₹180 or 63.16 per cent versus the issue price of ₹285.

 

On the BSE, the stock debuted with a premium of ₹173 or 60.70 per cent at ₹458. 

 

At the listing price, Behari Lal Engineering commanded a market capitalisation of ₹1,937.45 crore, according to BSE website. 

 

 

The stock's debut also surpassed grey market premium (GMP) estimates, which had indicated a listing gain of around 45 per cent for investors.  'Book partial profits' 

Shivani Nyati, head of wealth, Swastika Investmart, said that Behari Lal Engineering is one of India's leading metal-rolls manufacturers, with 10–11.5 per cent domestic market share. At the IPO price, the issue was priced at a reasonable 18.7x FY26 P/E, well below the peer average (31x for names like AIA Engineering, Steelcast, Vardhman Special Steel).  "Investors who got allotment could book partial profits into the listing-day strength, while those wanting a longer-term hold With the Stop-loss of ₹380," she said.  Behari Lal Engineering IPO details 

  Behari Lal Engineering's ₹302 crore IPO was subscribed 108.44 times, with the company receiving bids for 80,38,28,324 shares against 74,12,769 shares on offer, as per NSE data. Its anchor book saw participation from big names such as Tata AIA Life Insurance, PineBridge Global Funds, WhiteOak Capital and Bandhan Mutual Fund.  

Behari Lal Engineering had fixed the price band for its IPO at ₹271–₹285 per equity share and the public issue comprised a fresh issue of shares worth up to ₹93 crore and an Offer for Sale (OFS) of up to 73.20 lakh equity shares.

 

The company has plans to use the proceeds from the fresh issue for purchase and installation of equipment and machinery, including computers and peripherals, and related civil work at its manufacturing facilities. The funds will also be used for installing rooftop solar panels at the company's two facilities, repayment or pre-payment of certain borrowings and general corporate purposes. 

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Behari Lal Engineering operates two manufacturing facilities at Mandi Gobindgarh in Punjab and has recently commenced construction of a third facility in Fatehgarh Sahib district. It manufactures metal rolls, engineering castings, alloy steel products and forging ingots for industries including steel, power and heavy engineering. 

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