Behari Lal Engineering Ltd Gears Up for IPO with Fresh Share Issue

Behari Lal Engineering Ltd is preparing for an initial public offering (IPO), filing draft papers with the Securities and Exchange Board of India (Sebi) to generate funds.

The IPO features a fresh issue of shares worth Rs 110 crore, alongside an offer-for-sale by the promoters and investor shareholder SG Tech Engineering, disclosed in the draft red herring prospectus on Friday.

The capital raised will be utilized for capital expenditure, repaying or prepaying debt, and other corporate needs. Originally founded in Punjab in 1995 as Behari Lal Ispat Private Limited, the firm was restructured as a public limited company in 2024. It produces engineering castings, alloy steels, and metal rolls, servicing industries like steel, power, and heavy engineering from its Mandi Gobindgarh facilities. The company serves a broad client base, including over 1,600 domestic customers and 15 international markets. For FY2025, the firm's revenue rose to Rs 508 crore with a profit after tax of Rs 53 crore. Emkay Global Financial Services and Systematix Corporate Services will manage the public offering.

(With inputs from agencies.)