Now Reading: Behari Lal Engineering IPO subscribed 29.88 times on final day
-
01
Behari Lal Engineering IPO subscribed 29.88 times on final day
Behari Lal Engineering's initial public offering was subscribed 29.88 times on its third and final day of bidding, 14 August, according to BSE data. The retail portion was booked 17.87 times, the…
The Story in Brief
Behari Lal Engineering's initial public offering was subscribed 29.88 times on its third and final day of bidding, 14 August, according to BSE data. The retail portion was booked 17.87 times, the non-institutional investor segment 35.05 times, and the qualified institutional buyer portion 2.29 times. The company had raised Rs 90.48 crore from anchor investors on 11 August. The IPO, with a price band of Rs 271 to Rs 285 per share, closes on 14 August.
The grey market premium (GMP) for the IPO stood at Rs 80 on the final day, suggesting an estimated listing price of Rs 365, a 28.07% gain over the upper price band. Brokers such as SBICAP Securities, BP Equities, and Arihant Capital Markets have assigned a 'SUBSCRIBE' rating, citing the company's improving profitability, order book of Rs 178.57 crore, and plans to expand capacity. The shares are expected to list on the BSE and NSE on 19 August.
The Indian Opinion
The IPO frenzy is back, and the oversubscription of 29.88 times is being hailed as proof of investor confidence. But beneath the grey market cheer, the company's high customer concentration and unhedged forex exposure are real risks that few retail investors discuss. Swastika Investmart has flagged these, while most brokerages simply say 'subscribe'. The real test will be the listing day on 19 August: will the GMP hold or fade? That number will tell us if this is genuine demand or just IPO hype.
Sources (2): livemint.com, livemint.com (2)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
