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Informist, Tuesday, Aug. 11, 2026         

MUMBAI--1235 IST--Behari Lal Engineering Ltd. has filed a red herring prospectus with the Securities and Exchange Board of India for an initial public offering comprising a fresh issue of shares worth up to INR 1.10 billion and an offer for sale of up to 7.85 million shares, in line with what the company had proposed in its draft papers. The shares have a face value of INR 10 apiece.

For financial year 2024-25, the company reported a net profit of INR 529.51 million on revenue of INR 5.08 billion. Of this top line, almost 51% or INR 2.58 billion came from alloy steel products, and nearly 25% from metal rolls. Revenue from engineering castings accounted for nearly 18% of the company's overall revenue in FY25 at INR 901.06 million.

Behari Lal Engineering is an integrated iron and steel manufacturing company specialising in customised engineering solutions. The company's precision engineered components for critical industrial applications comprise metal rolls, engineering castings, alloy steel products, forging ingots, and forged shafts. (Shruti Nair)

IPO Alert: Behari Lal Engineering gets SEBI nod for fresh issue, OFS

Informist, Monday, Dec. 29, 2025

MUMBAI – Behari Lal Engineering Ltd. has received approval from the Securities and Exchange Board of India for its initial public offering. The offer comprises a fresh issue of shares of up to INR 1.10 billion and an offer for sale of up to 7.85 million shares. The face value of each share is INR 10. The market regulator issued an observation letter to the company Friday. The company had filed the draft papers for the offer in September. 

Behari Lal Engineering is an integrated iron and steel manufacturing company specialising in customised engineering solutions. Its precision-engineered components for critical industrial applications comprise metal rolls, engineering castings, alloy steel products, forging ingots, and forged shafts. The company had reported a net profit of INR 529.51 million for the financial year 2024-25 (Apr-Mar) on a revenue of INR 5.08 billion.  (P. Madhu Kumar) 

IPO Alert: Behari Lal Engineering files DRHP with SEBI for fresh issue, OFS

Informist, Friday, Sept. 26, 2025

--Behari Lal Engg files DRHP with SEBI for up to INR 1.10-bln fresh issue

--Behari Lal Engg files DRHP with SEBI for OFS of up to 7.85 mln shares

MUMBAI – Behari Lal Engineering Ltd. Friday filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering. It comprises a fresh issue of shares up to INR 1.10 billion and an offer for sale up to 7.85 million shares. The face value of each share is INR 10.

Promoters Rajesh Garg and Lovlish Garg and promoter groups Dinesh Kumar Garg HUF and Togita Garg will sell part of their stake. Rajesh Garg will sell up to 2.05 million shares and Yogita Garg will sell up to 2.26 million shares. Prakash Chand Garg is also a promoter of the company but is not in the list of promoters who will be selling their stake.

Behari Lal Engineering is an integrated iron and steel manufacturing company specializing in customised engineering solutions. The company's precision engineered components for critical industrial applications comprise of metal rolls, engineering castings, alloy steel products, forging ingots, and forged shafts. The company plans to utilise around INR 760 million for capital expenditure and about INR 7 million for repayment or prepayment of certain borrowings the company had availed. 

The company had reported a net profit of INR 529.51 million for 2024-25 (Apr-Mar) on a revenue of INR 5.08 billion. Of this top line, almost 51% or INR 2.58 billion came from alloy steel products and nearly 25% revenue was from metal rolls. Revenue from engineering castings accounted for nearly 18% of the company's overall revenue in FY25 at INR 901.06 million. As of March 2025, the company catered to 1,681 customers.

Of the total FY25 revenue, domestic business comprised of almost 96% at INR 4.86 billion and the remaining 4% was from overseas business. The company has businesses across five continents and 15 countries, including the US, Mexico, Brazil, France, Germany South Africa, and the United Arab Emirates. 

On internal risk factors, the company said over 40% of its revenue is concentrated with its top 10 clients. The company does not enter into a long-term contract with these customers and the loss of such customers will have a material impact on the business and financials. More than 95% of its revenue is from automobile, infrastructure, aggregate crusher manufacturer, and engineering industries, it said. 

The cost of raw materials constituted nearly 61% of the company's expenses in FY25. The company imports its raw materials and any delay or failure to procure raw materials will heavily impact its operations, it said.

There were no outstanding criminal proceedings against the company up until the draft paper was filed with SEBI. The book running lead managers are Emkay Global Financial Services Ltd. and Systematix Corporate Services Ltd. The registrar to the offer is MUFG Intime India Pvt. Ltd.  (Adhithya Aji)  End

Edited by Avishek Dutta

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