Behari Lal Engineering and Shivalaya Construction have received approval from the Securities and Exchange Board of India (SEBI) for initial public offerings (IPO)

Behari Lal Engineering IPO

Punjab-based Behari Lal Engineering has received final approval from the capital markets regulator, Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

The Company had filed its IPO papers with Sebi on September 26, 2025.

The IPO consists of a comprises a fresh issue aggregating up to Rs 110 crore and an offer-for-sale of up to 78,54,521 equity shares by existing shareholders. The selling shareholders include promoters – Rajesh Garg and Lovlish Garg, promoter group members, Yogita Garg and Dinesh Kumar Garg (HUF), and investor shareholder SG Tech Engineering Private Limited.

The company is a renowned manufacturer of engineering castings, alloy steel products, and metal rolls, all of which are vital components in industries including steel, power, and heavy engineering. It has two integrated production facilities in Mandi Gobindgarh, Punjab, one of which is a steel melting shop and foundry and the other a rolling mill division. These facilities are suited to meet a wide range of casting and roll requirements, including in-house design, quality testing, and R&D capabilities.

The company operates in the engineering castings and rolls industry, which is vital to India’s steel and infrastructure expansion. With increasing demand for high-quality castings and alloy rolls, the sector is seeing more prospects, both domestically and abroad. Behari Lal Engineering’s emphasis on precision production, metallurgical knowledge, and client-specific solutions offers it an advantage in this competitive market.

Shivalaya Construction Limited IPO

New Delhi-based Shivalaya Construction Ltd has received final approval from the capital markets regulator, Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).

The Company had filed its IPO papers with Sebi on September 5, 2026.

The IPO consists of a fresh issue of shares up to Rs 450 crore and an offer-for-sale up to 2,48,61,900 shares by promoters – Shripal Aggarwal, Pradeep Nandal, Sumitra Nandal, S P Aggarwal & Sons (HUF) and Pradeep Nandal respectively.

The proceeds from its fresh issuance worth Rs 340 crore will be utilised for pre-payment or repayment in full or part of certain borrowings of the company and general corporate purposes.

The company is an integrated infrastructure engineering, procurement and construction player with a focus on roads, highways and bridges, having executed 41 projects as of July 31, 2025, across 19 states and union territories in India.  The company has more than 25 years of experience in the construction, development and maintenance of roads and highways, which includes specialized structures such as elevated roads, flyovers, bridges and railway over bridges.

As of July 31, 2025, the company has constructed over 2,700 lane kms of roads and highways and has executed projects ranging from 14 lane kms to 210 lane kms and has over 1,500 lane kms of ongoing projects.