Behari Lal Engineering Listing Price: Stock Lists at Over 60% Premium
- 19th August 2026
- 10:00 AM
- 3 min read
Summary
Behari Lal Engineering shares listed on NSE and BSE on 19 August 2026 at more than 60% premium to the ₹285 IPO price, opening at ₹460 on NSE and ₹458 on BSE. The ₹301.62 crore IPO was subscribed 108.44 times, led by strong institutional and retail demand.Mumbai | 19 August 2026
Shares of Behari Lal Engineering, a Punjab-based iron and steel manufacturer, listed on the stock exchanges on 19 August 2026 at more than 60% premium over the IPO price of ₹285 per share. The stock opened at ₹460 on NSE, a premium of 61.40%, and at ₹458 on BSE, a premium of 60.70%. Following the listing, the company’s market capitalisation stood at around ₹1,937.45 crore.
How did the listing compare with the GMP?
Ahead of the listing, InvestorGain had indicated a grey market premium of around 47% for Behari Lal Engineering, pointing to an estimated listing price of about ₹419 based on the upper end of the price band. The actual NSE listing at ₹460 came in higher than this grey market indication.
GMP is an unofficial, informal indicator and does not guarantee the actual listing price or future performance of the stock.
What was the subscription status of the IPO?
The ₹301.62 crore IPO was subscribed 108.44 times over its three-day bidding period, from 12 to 14 August 2026. The issue received bids for 80,38,28,324 shares against 74,12,769 shares on offer.
| Investor category | Subscription |
| QIB | Around 165 times |
| NII | Around 165 times |
| Retail | 53.27 times |
What was the price band and issue structure?
The company set a price band of ₹271-285 per share. The IPO comprised a fresh issue of shares worth ₹93 crore and an offer for sale of 73.2 lakh shares worth around ₹208.62 crore.
Before the IPO opened, the company raised ₹90.48 crore from nine anchor investors through the allotment of 31.74 lakh equity shares at ₹285 apiece, the upper end of the price band.
| Anchor investor | Shares allotted | Amount |
| WhiteOak Capital Asset Management | 7.01 lakh (across 3 schemes) | Around ₹20 crore |
| Bandhan Mutual Fund | 4.91 lakh | Around ₹14 crore |
| 360 ONE | 4.56 lakh | Around ₹13 crore |
Emkay Global Financial Services and Systematix Corporate Services were the merchant bankers to the issue.
How will Behari Lal Engineering use the proceeds?
The company plans to deploy ₹63 crore from the net proceeds of the fresh issue towards purchasing and installing new equipment and machinery, including rooftop solar panels, at its manufacturing facilities in Salani and Turan villages, Punjab. A further ₹57 lakh is earmarked for repayment or pre-payment of borrowings, while the remaining proceeds will go towards general corporate purposes.
What does Behari Lal Engineering manufacture?
Behari Lal Engineering manufactures metal rolls, engineering castings, alloy steel products, forging ingots, forged shafts and blocks, and other customised engineering components. Its products serve the steel, iron ore mining, power, sugar, automotive, aerospace, oil and gas, energy and heavy engineering industries.
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