Behari Lal Engineering IPO Day 3: Issue subscribed 108 times; GMP at 28%
Behari Lal Engineering's IPO saw robust investor demand, with bids exceeding 108 times the shares offered. The company's shares are expected to list on August 19, 2026, following strong grey market sentiment.
On the third and final day of the Behari Lal Engineering IPO, the issue received 108 times the shares offered, garnering strong investor interest. A 28% premium in the grey market indicates expectations of a successful listing for the iron and steel manufacturing company. The IPO consists of a fresh issue worth Rs 93 crore and an offer for sale (OFS) of Rs 209 crore, with a price band set at Rs 271–Rs 285 per share.
Anand Rathi and SBI Securities both recommended investors to subscribe to the IPO, citing the company's engineering capabilities, quality processes, diverse product portfolio and long-standing customer relationships. The company plans to use IPO proceeds to purchase machinery and equipment, install solar panels, repay borrowings and fund general corporate purposes.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Shiprocket, Behari Lal Engineering IPOs cross 80x subscription on final day thehindubusinessline.com
