Behari Lal Engineering has filed draft papers with market regulator Securities and Exchange Board of India (SEBI), to mobilise funds through an initial public offering (IPO). The IPO comprises a fresh issue of shares worth Rs 110 crore and an offer-for-sale (OFS) of 78.54 lakh shares by promoters and an investor shareholder SG Tech Engineering.
Proceeds from the fresh issue will be deployed for funding capital expenditure requirements, repayment or prepayment of borrowings, and general corporate purposes. Emkay Global Financial Services and Systematix Corporate Services are the book-running lead managers to the public offering.
Behari Lal Engineering manufactures engineering castings, alloy steel products, and metal rolls, which are used in industries such as steel, power, and heavy engineering.
