Upcoming IPO: Behari Lal Engineering Files Draft Papers With SEBI
The Behari Lal public offer will include fresh issues of shares worth Rs 110 crore, as well an offer for sale segment.
Behari Lal Engineering Ltd. filed its preliminary papers with the capital markets regulator SEBI on Friday to raise funds via an initial public offering. The public offer will include fresh issues of shares worth Rs 110 crore, as well an offer for sale segment.
Directors of the company offloading a portion of their stake in the OFS include Rajesh Garg selling 20.45 lakh shares, Lovlish Garg selling 5.14 lakh shares, and promoter group Dinesh Kumar Garg HUF offering 2.97 lakh shares for sale.
The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd.
Emkay Global Financial Services Ltd. and Systematix Corporate Services Ltd. is the book-running lead manager for the issue and MUFG Intime India Pvt. Ltd. will be the registrar of the issue.
Proceeds from the fresh issue will be used for funding capital expenditure requirement of purchasing new equipment for various projects, and repayment or pre-payment in full or part of certain borrowings of the company, as per the draft prospectus. A part of the funds will be used for the general corporate purposes.
Behari Lal Engineering is an integrated iron and steel manufacturing company specialising in customised engineering solutions. According to CRISIL, the company is one of India's largest producers of metal rolls, meeting around 10% of the country’s demand in fiscal 2024.
Its product portfolio includes metal rolls for rolling mills across various grades, engineering castings weighing 500 kilograms to 20 metric tonnes, alloy steel products in multiple sections and sizes, and forging ingots and forged shafts/blocks designed for high-stress industrial applications. These products serve critical sectors such as steel, iron, mining, power, sugar, and aggregate crushers.
In fiscal 2025, the company reported Rs 507.9 crore in revenue from operations, up from Rs 446 crore in fiscal 2024 and Rs 462.9 crore in FY23. Profit for the period is at Rs 52.9 crore, up from Rs 35.7 crore in fiscal 2024 and Rs 28.8 crore in FY23.
