Behari Lal Engineering IPO Day 3 Final Subscription Status: 108.44x Subscribed; GMP at ₹82
Behari Lal Engineering’s IPO closed on 14 August 2026 with 108.44 times overall subscription. The Behari Lal Engineering IPO Day 3 final subscription status shows Qualified Institutional Buyers (QIBs) leading marginally at 165.33 times, followed by Non-Institutional Investors (NIIs) at 165.31 times. Retail demand reached 53.27 times. The latest Grey Market Premium (GMP) is ₹82, while the issue is now closed for bidding.
| Metric | Final update |
| Bidding day | Day 3 Final |
| Data status | Final after bidding closed on 14 August 2026 |
| Overall subscription | 108.44x |
| QIB subscription | 165.33x |
| NII subscription | 165.31x |
| Retail subscription | 53.27x |
| Other reserved category | Not separately reported |
| Current GMP | ₹82 |
| GMP percentage | 28.8% |
| Indicative price | ₹367 |
| Closing date | 14 August 2026 |
Behari Lal Engineering IPO Day 3 Final Subscription Status
Behari Lal Engineering received bids for about 80.38 crore shares against 74.13 lakh shares on offer, taking the final exchange-reported subscription to 108.44 times.
| Investor category | Final subscription |
| Qualified Institutional Buyers | 165.33x |
| Non-Institutional Investors | 165.31x |
| Retail Individual Investors | 53.27x |
| Overall | 108.44x |
Institutional and NII demand finished at almost identical multiples, while retail participation was also substantially above the shares reserved for that category. This makes the final demand relatively broad rather than dependent on only one investor segment.
Subscription multiples measure the quantity of shares bid for relative to the shares available in each category. They do not represent the number of unique applicants, and category multiples should be read alongside their different reservation sizes.
Final Day-wise Subscription Trend
The sharpest increase came on Closing Day after the issue had already built a sizeable base over the first two sessions.
| Bidding stage | Overall subscription | Leading category |
| Day 1 close | 2.03x | Retail, 2.70x |
| Day 2 close | 7.78x | NII, 11.11x |
| Day 3 Final | 108.44x | QIB, 165.33x |
Overall demand rose from 2.03 times on Day 1 to 7.78 times on Day 2 before reaching 108.44 times at the final close. The Closing Day jump was driven primarily by the substantial build-up in QIB and NII bids.
Institutional participation often develops later in a book-built IPO, but the final multiple itself does not explain why individual institutions placed their bids.
Behari Lal Engineering IPO GMP Today and Estimated Listing Price
The latest available Behari Lal Engineering IPO GMP is ₹82 per share, compared with an earlier available reading of about ₹80. This represents a ₹2 increase in the unofficial premium.
At the upper issue price of ₹285:
Indicative price = ₹285 + ₹82 = ₹367
GMP percentage = ₹82 ÷ ₹285 × 100 = approximately 28.8%
The GMP and final subscription are therefore pointing in the same direction, with both showing elevated market interest at the end of bidding. However, they measure different things.
GMP is unofficial, unregulated, and can change quickly before listing. It is not published by the Securities and Exchange Board of India (SEBI), National Stock Exchange of India (NSE), or BSE Limited (BSE). An indicative price of ₹367 does not guarantee the actual listing price or a 28.8% gain.
What Stands Out in Today’s Bidding
The first notable signal is the scale of the final-day acceleration. Overall subscription increased from 7.78 times at the end of Day 2 to 108.44 times at the final close, with QIBs and NIIs both finishing above 165 times.
Second, demand was not limited to professional investors. Retail subscription of 53.27 times shows that the retail allocation also received bids well above the shares available.
Two limitations remain important. Subscription does not prove that the IPO valuation is fair or that the company’s business will deliver strong future returns. Similarly, GMP is an informal market signal and can change independently of subscription levels before the stock lists.
IPO Details Retail Investors Need
| IPO detail | Information |
| Price band | ₹271 to ₹285 per share |
| Lot size | 52 shares |
| Minimum retail investment | ₹14,820 at upper price band |
| Issue size | ₹301.62 crore |
| Fresh issue | ₹93 crore |
| Offer for Sale | ₹208.62 crore |
| Issue type | Mainboard book-built IPO |
| Closing date | 14 August 2026 |
| Expected listing date | 19 August 2026 |
| Exchange | NSE and BSE |
The IPO comprises a fresh issue of approximately 32.63 lakh shares and an Offer for Sale (OFS) of about 73.20 lakh shares.
Brief Company and Financial Context
Behari Lal Engineering manufactures alloy steel products, metal rolls, engineering castings, forging ingots, and forged components for industries including automobiles, infrastructure, mining, and industrial equipment. Alloy steel products contributed the largest share of product revenue in FY2026. Revenue from operations increased to ₹534.03 crore in FY2026 from ₹507.91 crore in FY2025, while Profit After Tax (PAT) rose to ₹64.64 crore from ₹52.95 crore.
Fresh proceeds are intended mainly for machinery and related civil works, rooftop solar installations, debt repayment, and general corporate purposes. A material risk is customer concentration, with the top 10 customers contributing about 38% of FY2026 revenue.
What Happens Next
With bidding closed, the focus shifts to allotment and listing. The basis of allotment is expected to be finalised on 17 August 2026, followed by the related refund or fund-unblocking and demat-credit process. Behari Lal Engineering shares are expected to list on the NSE and BSE on 19 August 2026.
Frequently Asked Questions (FAQs)
Q: How many times was the Behari Lal Engineering IPO subscribed on Day 3 Final?
A: Behari Lal Engineering IPO closed with final overall subscription of 108.44 times. QIBs subscribed 165.33 times, NIIs 165.31 times, and retail investors 53.27 times based on the final exchange-reported bidding data.
Q: What is the Behari Lal Engineering IPO GMP today?
A: The latest available Behari Lal Engineering IPO GMP is ₹82 per share. GMP is an unofficial and unregulated indicator, and it can rise or fall before the shares list.
Q: What listing price does the current Behari Lal Engineering IPO GMP indicate?
A: With an upper issue price of ₹285 and a GMP of ₹82, the indicative price is about ₹367 per share. This represents an indicative premium of approximately 28.8%, but it is not a guaranteed listing price.
Q: Does 108.44x subscription guarantee a premium listing for Behari Lal Engineering?
A: No. High subscription shows that bids exceeded the shares available, but it does not guarantee listing gains. Market conditions, valuation, investor sentiment, and other factors can affect the actual listing price.
Q: When is the Behari Lal Engineering IPO allotment expected?
A: The basis of allotment is expected to be finalised on 17 August 2026. The shares are tentatively scheduled to list on the NSE and BSE on 19 August 2026.
Disclaimer
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