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Behari Lal Engineering IPO subscribed 2.03x on day one of bidding
The IPO price band is ₹271 to ₹285 per share, and it plans to raise ₹90.48 crore from anchor investors ahead of a 14 August close.
India-focused industrial firm Behari Lal Engineering said its initial public offering was subscribed 2.03 times on the first day of bidding on 12 August, indicating positive investor response, according to LiveMint Markets.
The company has set the IPO price band at ₹271 to ₹285 per equity share, with a face value of ₹10, and the three-day offer opened on 12 August and is scheduled to close on 14 August. Anchor investor bidding was held on 11 August, and the reservation structure allocates up to 50% for Qualified Institutional Buyers, at least 15% for Non-Institutional Investors, and at least 35% for retail investors.
Behari Lal Engineering raised ₹90.48 crore from anchor investors on 11 August. The basis of allotment is expected on 17 August, refunds are slated for 18 August, and shares are expected to be credited to investors’ demat accounts the same day, with listings on BSE and NSE on 19 August.
Ahead of listing, LiveMint Markets noted a grey market premium of +74 on the day, implying an estimated listing price of ₹359 per share, about 25.9% above the ₹285 upper end of the IPO price band. The outlet also cited an analyst view that Behari Lal Engineering has shown steady revenue and profitability growth, including EBITDA margin expansion from 13.7% in FY24 to 18.9% in FY26.