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Behari Lal Engineering Ltd has filed draft papers with SEBI to raise INR 110 crore through an IPO, comprising a fresh share issue and an offer-for-sale by promoters and investor SG Tech Engineering. Established in 1995 and now a public limited company, it manufactures engineering castings, alloy steel products, and metal rolls for sectors like steel, power, and heavy engineering. With two integrated units in Punjab, a strong customer base in India, and exports to 15 countries, the company reported revenue of INR 508 crore and profit of INR 53 crore in the last fiscal year.
Behari Lal Engineering Ltd has submitted its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), seeking to raise INR 110 crore through an initial public offering (IPO). The proposed public offering consists of a fresh issue of shares worth INR 110 crore and an offer-for-sale (OFS) of 7,854,521 equity shares by the company's promoters and investor SG Tech Engineering. Advertisement
The company, established in 1995 in Punjab as Behari Lal Ispat Private Limited, became a public limited entity in 2024 and adopted the name Behari Lal Engineering Ltd. This change was intended to reflect the company's broader operational scale and diversified product portfolio.
Behari Lal Engineering specializes in the manufacturing of engineering castings, alloy steel products, and metal rolls. Its products cater to industries including steel, power, and heavy engineering. The company operates two integrated production units in Mandi Gobindgarh, Punjab, which include a steel melting shop, foundry, and rolling mill division. These units also cover essential functions such as design, testing, and research and development.
The company has served over 1,600 customers across 19 states and six Union territories in India and has exported its products to 15 countries, including Germany, the United States, Brazil, South Africa, and the UAE. This broad footprint highlights its established presence both domestically and internationally.
As of the end of the last fiscal year, Behari Lal Engineering reported revenue from operations of INR 508 crore, up from INR 446 crore the previous year. Its profit after tax increased to INR 53 crore from INR 36 crore in FY2024, reflecting steady growth in both revenue and profitability.
The funds raised from the fresh issue in the IPO are planned to be used for capital expenditure requirements, repayment or prepayment of borrowings, and general corporate purposes. Emkay Global Financial Services and Systematix Corporate Services have been appointed as the book-running lead managers for the public offering.
This IPO comes at a time when the company has strengthened its production capabilities and expanded its reach in international markets. The offering provides an opportunity for investors to participate in the company's growth journey while supporting its strategic financial goals.
Source PTI
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