90 on the BSE on Wednesday, extending gains after a strong market debut. The shares of the company had listed at a 63% premium to its issue price of Rs 285 earlier in the day.

20 lakh equity shares worth around Rs 209 crore. 48 crore from anchor investors.

75 lakh equity shares at Rs 285 apiece to marquee investors, including Tata AIA Life Insurance Company, PineBridge Global Funds, Amicorp Capital (Mauritius) Ltd, WhiteOak Capital and Bandhan Mutual Fund.. “Robust listing gains indicate that there is strong investor appetite, with investors willing to add the stock at a premium to the issue price,” said Sunny Agrawal, Head of Fundamental Research at SBI Securities.

7x FY26 P/E, well below the peer average of 31x for names such as AIA Engineering, Steelcast and Vardhman Special Steels,” said Shivani Nyati, Head of Wealth at Swastika Investmart. “Investors who got allotment could book partial profits amid the listing-day strength,” she said, adding that those with a longer-term view can hold the stock with a stop-loss of Rs 380.

Use of IPO proceedsThe company plans to use the proceeds from the fresh issue to purchase and install equipment and machinery, including computers and peripherals, along with related civil work at its manufacturing facilities. The funds will also be used to install rooftop solar panels at both facilities, repay or prepay certain borrowings, and meet general corporate purposes.

About Behari Lal EngineeringIncorporated in 1995, Behari Lal Engineering is an integrated iron and steel manufacturer specialising in precision-engineered components such as metal rolls, engineering castings, alloy steel products, forging ingots and forged shafts. As of March 31, 2026, the company had served 1,825 domestic and international customers, including Amba Shakti Industries, BMW Industries, Shyam Metallics and Energy, Laxcon Steels, MSP Steel & Power, Jai Balaji Industries, Propel Industries and Metso India.

57 crore as of May 31, 2026.