Behari Lal Engineering shares are set to debut on the BSE and NSE on Wednesday, August 19, with grey market sentiment pointing to a potentially strong listing.The company’s IPO currently commands a 47% grey market premium (GMP), signaling expectations of a sharp listing gain over its issue price.The IPO, which opened for subscription from August 12 to August 14, drew an overwhelming response from investors and was subscribed 108.44 times overall. The retail portion was subscribed 53.27 times, while the QIB and NII categories saw exceptionally strong demand, with subscriptions of 165.33 times and 165.32 times, respectively.Priced in the range of Rs 271–Rs 285 per share, the Rs 302-crore IPO comprised a fresh issue of Rs 93 crore and an offer for sale (OFS) of 73.20 lakh equity shares worth around Rs 209 crore.Investor interest was already evident ahead of the IPO, with the company raising Rs 90.48 crore from anchor investors. It allotted 31.75 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.Emkay Global Financial Services Ltd. acted as the book-running lead manager for the issue, while MUFG Intime India Pvt. Ltd. is the registrar.IPO proceedsBehari Lal Engineering plans to use the proceeds from the fresh issue for purchasing and installing equipment and machinery, including computers and peripherals, and related civil work at its manufacturing facilities. Funds will also be used for installing rooftop solar panels at both facilities, repayment or pre-payment of certain borrowings and general corporate purposes.About Behari Lal Engineering Ltd.Incorporated in 1995, Behari Lal Engineering Ltd. is an integrated iron and steel manufacturer offering customised engineering solutions. The company specialises in precision-engineered components for critical industrial applications, including metal rolls, engineering castings, alloy steel products, forging ingots, and forged shafts.Its key product offerings include, Metal Rolls, Engineering Castings, Alloy Steel Products, and Forging Ingots and Forged Shafts/BlocksAs of March 31, 2026, the company had served 1,825 domestic and international customers. Its diversified customer base includes Amba Shakti Industries, BMW Industries, Shyam Metallics and Energy, Laxcon Steels, MSP Steel & Power, Jai Balaji Industries, Propel Industries, and Metso India, among others.The company's manufacturing operations are spread across two units located in Mandi Gobindgarh, Punjab. As of May 31, 2026, its order book stood at Rs 1,785.69 million.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)