Behari Lal Engineering IPO

Driven by QIB demand at 165.3x and moderate disclosed risk (5/10), Behari Lal Engineering listed at a premium of 63.2% to its issue price. The signals lean constructive — still confirm valuation against listed peers and read the DRHP before applying beyond one lot.

• The company has a diversified product portfolio comprising metal rolls, engineering castings, alloy steel products, and forging ingots and forged shafts/blocks, which are used across more than 10 indu
• The company has a large base of repeat customers. It had 366, 378, and 364 repeat customers in FY24, FY25, and FY26, respectively. Revenue from repeat customers stood at Rs 357.05 crore, Rs 437.30 cro
• The company operates two manufacturing facilities in Mandi Gobindgarh, Punjab, with a combined installed capacity of 119,690 MT as of FY26. Its overall capacity utilisation stood at 85.47%, 90.30%, an
• The company claims to have manufacturing facilities with overlapping processes that allow the same infrastructure to be used for producing different product categories. It also claims to have dedicate
• The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and ISO 45001:2018 certified for occupational health and safety ma

Score breakdown — what drove this verdict

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Disclosed Risk 5/10

Moderate risk from DRHP → score +0.0

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QIB Demand 165.3×

Institutional subscription → score +2.0

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Retail Demand 50.0×

Strong retail interest → score +0.5

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Listing Performance +63.2%

Actual listing outcome → score +1.5

Base score: 5.0 · Final score = base + all factor adjustments, capped 1–10. Full methodology →

IPOFins Score is a quantitative signal from subscription demand, disclosed risk, and listing data — not investment advice. Not SEBI-registered.