Behari Lal Engineering IPO Listing: Shares List At Over 63% Premium On NSE
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Behari Lal Engineering shares made a strong market debut. They listed at over 63% above the IPO issue price on the NSE. Read more.
Behari Lal Engineering shares made a positive entry into the stock market. The shares opened at ₹458 apiece on the Bombay Stock Exchange (BSE), translating into a nearly 61% premium over their issue price.
The stock also opened higher on the National Stock Exchange (NSE) at ₹465 apiece, marking a gain of more than 63% over the issue price.
Behari Lal Engineering IPO And Subscription Details
Behari Lal Engineering initial public offering (IPO) issue opened on 12 August and closed on 14 August. The ₹302-crore IPO was a combination of a ₹93-crore fresh issue and an offer for sale (OFS) of 73.20 lakh shares, valued at around ₹209 crore. The company had set the price band at ₹271–₹285 per share.
It drew strong investor interest, with the IPO receiving bids for 108.44 times the total shares on offer. Retail investors subscribed to 53.27 times the portion reserved for them. The response from institutional investors was even stronger. The quota for qualified institutional buyers (QIBs) was subscribed 165.33 times, while non-institutional investors (NIIs) subscribed 165.32 times.
Emkay Global Financial Services Ltd was the book-running lead manager, while MUFG Intime India Pvt Ltd was the registrar to the issue.
About Behari Lal Engineering
Established in 1995, Behari Lal Engineering Ltd. has spent more than three decades building its presence in the iron and steel industry. The company is an integrated manufacturer that also provides customised engineering solutions to its customers.
Its products are used across critical industrial applications and include metal rolls, engineering castings, alloy steel products, forging ingots and forged shafts. At the heart of its business are precision-engineered products, designed to meet the specific requirements of industrial customers.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
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