• Price band of Rs 271 – Rs 285 per Equity Share bearing face value of Rs 10 each (“Equity Shares”)
  • Bid/Offer Opening Date – Wednesday, August 12, 2026 and Bid/Offer Closing Date – Friday, August 14, 2026.
  • Minimum Bid Lot is 52 Equity Shares and in multiples of 52 Equity Shares thereafter

Mumbai: 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 Initial Public Offering (“IPO” or “Offer”) of the Company will open on Wednesday, August 12, 2026, for subscription and close on Friday, August 14, 2026.

Investors can bid for a minimum of 52 Equity Shares and in multiples of 52 Equity Shares thereafter.

Equity shares outstanding as on date is 39,039,325 Equity Shares of Rs 10 each

The offer, with a face value of Rs 10 per equity share, comprises a fresh issue aggregating up to Rs 93 crore and an offer-for-sale of up to 7,320,001 equity shares by Promoters – Rajesh Garg, Lovlish Garg, Promoter group – Yogita Garg, and Dinesh Kumar Garg HUF and Investor selling shareholder – SG Tech Engineering Private Limited.

The proceeds from its fresh issuance worth Rs 19.59 crore will be utilised towards funding  purchase and installation of new equipment / machinery (including computers, printers and computer peripherals) along with civil work for such installation at Manufacturing Facility 1, Rs 3.40 crore for purchase and installation of new roof-top solar panels at Manufacturing Facility 1, Rs 36.65 crore for purchase and installation of new equipment / machinery along with civil work for such installation at Manufacturing Facility 2, Rs 3.40 crore for purchase and installation of new roof-top solar panels at Manufacturing Facility 2, Rs 57 lakh for repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company, and remaining amount of the Net Proceeds for general corporate purposes.

The Offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 50% of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 15% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs).

Incorporated in 1995, the company is an integrated iron and steel manufacturing company specializing in customized engineering solutions. According to CRISIL, the company is one of India’s largest metal rolls producers and a leading player in the metal rolls meeting 10-11.5% of the country’s demand in Fiscal 2026.

The company is a manufacturer of metal rolls, engineering castings, alloy steel products, and forging ingots for user industries including steel, power, and heavy engineering.

It operates two manufacturing facilities in Mandi Gobindgarh, Punjab (manufacturing facilities) which are equipped with capabilities to design, develop and manufacture its products. Further, the company has recently commenced construction for its third manufacturing facility at Mandi Gobindgarh, District Fatehgarh Sahib, Punjab.

With over two decades of experience in the steel industry, the company has over the years honed its product development capabilities, which combined with a modern and fully integrated digital steel melting shop with ladle refining furnace (LRF), vacuum degassing (VD), foundry, heat treatment, machine shops, rolling mills and a skilled workforce, enable it to provide customized components tailored to meet the specific needs of its customers.

Its precision engineered products find application across diverse industries such as automobile, steel, mining, infrastructure and construction, power, aerospace and defence and cement.

The broad range of industrial applications has also enabled it to cater to a large number of domestic and international customers, and as of March 31, 2026, the company catered to 1,825 customers. Since April 1, 2024, the company has exported its precision engineered components across 5 continents and in 21 countries including Afghanistan, Brazil, Finland, France, Germany, Ireland, Mexico, Nepal, Nigeria, South Africa, Tanzania, UAE and USA.

The company has over the years built long-term relationship with its customers and it includes BMW Industries Limited, Embross Autocomp Limited, Forge Auto International Limited and Hailstone Innovations Private Limited.

Its products are manufactured using technologically advanced machines such as computer numerical control (CNC) lathes, heavy duty all geared lathes, boring machines, CNC boring machine, roll grinding machines, vertical turning lathe (VTL), CNC VTL, radial drills, Plano Milling Machines and CNC vertical milling machines.

Its manufacturing facilities are equipped with sophisticated equipment and machinery that enable it to produce high quality products and manufacture customised product as per the requirements of its customers. Its customised engineering products include metal rolls, engineering castings, and alloy steel products

Its facilities have received various quality and standard certifications including ISO 9001-2015 for Quality Management, ISO 14001:2015 for Environment Management, ISO 45001:2018 for Occupational Health & Safety Management certificate.

The company is conscious of its role in society and as part of its manufacturing process and business operations has installed rooftop solar panels of around 2 MW for long term sustainable power supply for its offices and manufacturing facilities to reduce carbon emissions, and use of 100% recycled steel scrap to reduce dependency

on raw materials and support environmental goals.

Its revenue from operations was Rs 534.03 crore in FY26 stood as against Rs 446.08 crore in FY24. Its net profit was Rs 64.64 in FY26 as against Rs 35.79 crore in FY24.

Emkay Global Financial Services Limited and Systematix Corporate Services Limited are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the offer.

The equity shares are proposed to be listed on BSE and NSE.