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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Capital Expenditure for Equipment and Solar Power
Purchase and installation of new machinery and roof-top solar panels at Manufacturing Facilities 1 and 2.
Prepayment or Repayment of Borrowings
Partial or full repayment of outstanding credit facilities availed by the company.
General Corporate Purposes
Funding general corporate requirements and operational contingencies.
(₹ in Crore)
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Behari Lal Engineering Limited is an integrated iron and steel manufacturing enterprise headquartered in Mandi Gobindgarh, Punjab. Established in 1995, the company specializes in manufacturing custom engineering solutions, heavy castings, alloy steel products, and metal rolls. Over three decades of operations, it has established itself as a key supplier of precision components to major industrial sectors in India. The company operates modern manufacturing plants equipped with induction furnaces, foundry facilities, heavy forge shops, and CNC machining lines. Its product portfolio encompasses cast iron rolls, forged steel rolls, alloy steel ingots, and heavy structural castings designed for critical applications. Behari Lal Engineering serves a wide range of industries including steel rolling mills, mining, power generation, defense, automotive, and heavy infrastructure. Driven by continuous technological upgrades and quality certifications, the company has expanded its production capacity and domestic footprint. With integrated operations spanning raw material processing to final finishing, Behari Lal Engineering delivers customized engineering products that meet stringent technical specifications required by domestic and global clients.
The company raised 90.49 crore rupees by allocating 31,74,946 equity shares to 11 institutional anchor investors at 285 rupees per share on August 11, 2026, with major participation from WhiteOak Capital, Bandhan Mutual Fund, and Tata AIA Life Insurance.
Source: RHP • Analysis provided for informational purposes
Last Updated: 17 August 2026, 1:00 PM
Established Player in Steel Roll Manufacturing
The company holds a strong market position in the Indian engineering roll industry, commanding a 10 to 11.5 percent market share in Fiscal 2026.
Integrated Operations and Technical Expertise
Operates integrated manufacturing facilities in Punjab with in-house capabilities for casting, forging, heat treatment, and precision machining.
Diverse Product Portfolio Across Key Sectors
Offers customized engineering components and steel products serving diverse sectors including steel manufacturing, defense, automotive, and infrastructure.
Consistent Profitability and Revenue Growth
Demonstrated steady financial performance with revenue expanding from 449.96 crore rupees in FY24 to 546.52 crore rupees in FY26.
Dependency on Steel Industry Performance
Business revenue is heavily reliant on demand cycles and capital expenditure in the primary steel and metals manufacturing sector.
Raw Material Price Fluctuations
Exposed to volatility in raw material costs, particularly scrap metal, ferroalloys, and power, which can compress operating margins if cost increases cannot be passed on.
Geographic Concentration of Production Facilities
Manufacturing operations are concentrated in Mandi Gobindgarh, Punjab, making operations vulnerable to regional disruptions or supply chain bottlenecks.
MUFG Intime India Private Limited
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Substantial Working Capital Requirements
The engineering business requires significant working capital to manage inventory cycles and customer credit terms.