Behari Lal Engineering seeks approval for Rs 110 cr IPO

New Delhi: Behari Lal Engineering Ltd has filed draft papers with market regulator Sebi to mobilise funds through an initial public offering (IPO).

The IPO comprises a fresh issue of shares worth Rs 110 crore and an offer-for-sale (OFS) of 78.54 lakh shares by promoters and an investor shareholder SG Tech Engineering, according to the draft red herring prospectus (DRHP) filed on Friday.

Proceeds from the fresh issue will be deployed for funding capital expenditure requirements, repayment or prepayment of borrowings, and general corporate purposes. Behari Lal Engineering was established in Punjab in 1995 as Behari Lal Ispat Private Limited. In 2024, it was converted into a public limited company and renamed Behari Lal Engineering Limited to reflect its broader product portfolio and scale of operations.

The company manufactures engineering castings, alloy steel products, and metal rolls, which are used in industries such as steel, power, and heavy engineering. It operates two integrated production units in Mandi Gobindgarh, Punjab -- a steel melting shop and foundry, and a rolling mill division.