Anatomy of an IPO. Every figure read from a filing
BEHARI LAL ENGINEERING LIMITED
IssueRs 302 cr
Amount of issue size: 3,01,62,00,000
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD AMOUNT OF ISSUE SIZE
PriceRs 285
Issue Price for the current Public issue Rs. 285/- per share
BSE NOTICE 20260818-37 P.2 · SHA256 E5F13C2B · NOTICE ISSUE PRICE
Lot52 sh / Rs 14,820
Market lot: 52
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD MARKET LOT
Allotted17 Aug 2026
Date of Allotment in the public issue: August 17, 2026
BSE NOTICE 20260818-37 P.2 · SHA256 E5F13C2B · NOTICE DATE OF ALLOTMENT
Listed19 Aug 2026
Date of listing: 2026-08-19
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD DATE OF LISTING
01 Who was given shares, and on what terms
Anchor investors30.00%
Number of share allocated to anchor: 31,74,946
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD SHARES ALLOCATED TO ANCHOR
ALLOCATED BEFORE BIDDING OPENED, AT A PRICE NOBODY BID · RS 90 CRORE
Other institutions20.00%
Number of share allocated to QIB: 21,16,632
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD ALLOCATED TO QIB
QUALIFIED INSTITUTIONAL BUYERS, NET OF THE ANCHOR PORTION
Wealthy individuals35.00%
Number of share allocated to NII: 37,04,106
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD ALLOCATED TO NII
NON-INSTITUTIONAL, THE PORTION ABOVE TWO LAKH RUPEES
People like you15.00%
Number of share allocated to RII: 15,87,474
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD ALLOCATED TO RII
RETAIL. GUARANTEED BY LAW WHETHER OR NOT ANYONE WANTS IT
The odds of an application getting shares need the retail subscription, which comes from the bid book while bidding runs. This issue listed before this site began holding books, and the exchange withdraws the book at close, so for this issue it no longer exists anywhere.
02 The issue, and where the money went
1,05,83,158 shares offered
Number of issue shares: 1,05,83,158
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD NUMBER OF ISSUE SHARES
Rs 302
crore
Amount of issue size: 3,01,62,00,000
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD AMOUNT OF ISSUE SIZE
BIDDING 12 AUG 2026 TO 14 AUG 2026 PRICE FIXED AT RS 285
03 Where the money came out
100% of the money
Partly to the company, partly to selling shareholders
Rs 302 crore
COMPOSITION FRESH AND OFS · 73,20,001 SHARES SOLD BY EXISTING HOLDERS
Number of offer for sale shares: 73,20,001
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD OFFER FOR SALE SHARES
Rs 93 crore
to the company
THE FRESH ISSUE PORTION, AT THE ISSUE PRICE.
What the company will do with it
The objects of the offer are complete only in the final prospectus. A red herring states the fixed objects and leaves the residual one and the total blank, because both depend on the price.
04 What the company earns
FY 2026Rs 534.03 croreRs 64.64 crore profit for the year · 12.1% of revenueFY 2025Rs 507.91 croreRs 52.95 crore profit for the year · 10.4% of revenueFY 2024Rs 446.08 croreRs 35.79 crore profit for the year · 8.0% of revenueWhat the filing states about the latest year · FY 2026
EBITDARs 101.33 croreEBITDA margin18.97%Return on net worth23.60%Return on capital employednot stated in a table that checks outDebt to equitynot stated in a table that checks outCurrent rationot stated in a table that checks outNet worthRs 306.10 croreRead from the restated statement of profit and loss and the key performance indicators, which agree
What the filing states about the latest year · FY 2026
Read from the restated statement of profit and loss and the key performance indicators, which agree
1 line(s) over 2026, 2025, 2024: revenue from operations 2026 Rs 534.02 crore, 2025 Rs 507.91 crore, 2024 Rs 446.08 crore
BEHARI LAL ENGINEERING LIMITED - RHP P.164 · SHA256 640351DF · RESTATED PROFIT AND LOSS
7 indicator(s) over 2026, 2025, 2024: Revenue from operations 2026 Rs 534.02 crore, 2025 Rs 507.91 crore, 2024 Rs 446.08 crore
BEHARI LAL ENGINEERING LIMITED - RHP P.323 · SHA256 640351DF · KEY PERFORMANCE INDICATORS
05 What the profit is made of
A profit can be earned by the business or it can arrive from somewhere else, and the statement of profit and loss says which. This prospectus does not state it in a shape this reader follows, so the split is not shown rather than guessed at.
06 What moved between the company and its owners
Every prospectus states what the company bought from, sold to, paid and lent to the people who run and own it. It is published here only where the table checks against itself, either because every amount is printed beside its own percentage or because the rows add up to the totals stated under them. This prospectus states it in a shape this reader does not yet follow.
07 What the shares already in issue were paid for
Every prospectus states what was paid for the shares already in issue, allotment by allotment, since the company was incorporated. It is published here only where the allotments add up to the capital the exchange separately states was in issue before the offer. On this prospectus they do not, so the table is not shown.
08 When those shares come back to the market
- 17 Aug 2026ALLOTMENT
- 19 Aug 2026LISTED
- 16 Sep 2026Anchor lock-in, first trancheRs 45 crore · 15,87,473 SHARES UNLOCK
- 15 Nov 2026Anchor lock-in, second trancheRs 45 crore · 15,87,473 SHARES UNLOCK
09 Every dated unlock, with the page it was read from
Anchor lock-in, first tranche
16 Sep 2026
ICDR Sch XIII Pt A Cl.10(j) · 30 days
Shares: 15,87,473
At the issue price: Rs 45.24 crore
Source: BSE issue summary, scrip 544870 p.1 7bef2742
Number of share allocated to anchor: 31,74,946
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD SHARES ALLOCATED TO ANCHOR
Period: 30 days
locked-in for a period of 30 days from the date of Allotment
BEHARI LAL ENGINEERING LIMITED - RHP P.548 · SHA256 640351DF · STATED ANCHOR FIRST TRANCHE
Anchor lock-in, second tranche
16 Nov 2026
ICDR Sch XIII Pt A Cl.10(j) · 90 days
Shares: 15,87,473
At the issue price: Rs 45.24 crore
Source: BSE issue summary, scrip 544870 p.1 7bef2742
Number of share allocated to anchor: 31,74,946
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · ISD SHARES ALLOCATED TO ANCHOR
Period: 90 days
90 days from the date of Allotment
BEHARI LAL ENGINEERING LIMITED - RHP P.548 · SHA256 640351DF · STATED ANCHOR SECOND TRANCHE
Not dated on this page, and why
- Minimum promoters' contribution: the prospectus does not state the minimum promoters' contribution period in a form this reader recognises, and the period depends on whether the proceeds fund capital expenditure
- Promoter holding above the minimum: the promoters' total holding after the offer, which this lock-in is that total less the minimum contribution, was not read from the capital structure summary, or the contribution itself was not
- Pre-IPO non-promoter lock-in: everything locked for six months that is not the promoters own holding follows by arithmetic from the post-issue capital, the offer and the promoters holding, all of which are here, except for the shares the regulation exempts from lock-in, which no filing in this store states as a count. Without that count the figure would be an upper bound rather than a figure, so it is not published
30.00% of this issue was allocated before the public could bid, at a price nobody bid.
BSE ISSUE SUMMARY, SCRIP 544870 P.1 · SHA256 7BEF2742 · NOTHING HERE IS ADVICE.
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