Behari Lal Engineering IPO Day 2: Issue booked over 4x so far; check all subscription details

The initial public offering (IPO) of iron and steel manufacturing company Behari Lal Engineering continues to see good demand on the second day of subscription with a total booking of 4.06 times so far on Thursday, August 13.

The issue got fully booked on the first day of its subscription.

Until 11:50 AM, the initial share sale of the company has received bids for 3,01,08,156 shares as compared to 74,12,769 shares on offer, as per exchange data.

The non-institutional investor (NII) category was subscribed 5.69 times, while the retail individual investor (RII) segment saw a 5.17 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 0.73 times.

The IPO, with a price band between ₹271 and ₹285 per share, includes fresh issues and an offer for sale. It is a book-building issue, comprising a fresh issue of ₹93 crore and an offer for sale of ₹209 crore.

The minimum lot size for an application is 52 shares, and an investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹302 crore.

Behari Lal Engineering IPO key dates

Behari Lal Engineering IPO Objective

The money raised from the IPO will be used towards the following objectives:

About the company

Behari Lal Engineering (BLEL) is an integrated iron and steel manufacturing company specialising in customised engineering solutions for critical industrial applications. The company started as a steel trader and gradually scaled up as a steel manufacturer, having over two decades of experience in the steel industry. As per RHP, BLEL is one of India's largest metal rolls producers and a leading player in the metal rolls segment, meeting 10 to 11.5% of India's demand in FY26.

The company operates across four key product segments. Metal Rolls include alloy cast steel rolls, alloy steel base adamite rolls, graphitic steel rolls and S.G.

Since April 1, 2024, the company has also expanded internationally, exporting to 21 countries across 5 continents. International sales for FY26 were ₹47.98 crore, 8.98% of revenue.

As of March 31, 2026, BLEL has served 1,825 customers, of which 578 customers were served during FY26. Revenue from repeat customers was ₹452.28 million and constituted 84.6% of total revenue from operations in FY26.