2 weeks ago
Behari Lal Engineering IPO subscribed 2.03 times on Day 1
Behari Lal Engineering Ltd is a company that makes iron and steel.
The company wanted to raise money by selling small pieces of itself, called shares, to the public.
This is called an IPO, which stands for Initial Public Offering.
The company planned to raise Rs 302 crore through this IPO.
On the very first day of selling, lots of people wanted to buy shares.
In fact, the IPO was subscribed 2.03 times, meaning people asked for more shares than were available.
Everyday individual investors showed especially strong interest in the offering.
Big companies, banks, and wealthy investors also took part.
Before the public bidding started, the company had already collected Rs 90.48 crore from special anchor investors.
The first day of bidding happened on Wednesday.
Behari Lal Engineering Ltd's Rs 302-crore IPO was subscribed 2.03 times on the first day of bidding on Wednesday.
Bids were received for 1,50,12,556 shares against 74,12,769 shares on offer, according to NSE data.
The retail portion of the IPO was subscribed 2.69 times.
The non-institutional investor portion was booked 2.11 times, while the QIB segment was subscribed 73 per cent.
The company had raised Rs 90.48 crore from anchor investors on Tuesday.
- Who
- Behari Lal Engineering Ltd, an integrated iron and steel manufacturing company, and its investors
- What
- The company's IPO was subscribed 2.03 times on its first day of bidding
- Where
- India, with bidding on the National Stock Exchange (NSE)
- When
- Wednesday (first day of bidding), with anchor investor funds raised on Tuesday
- Why
- To raise Rs 302 crore through the public offering
Key facts
- Company
- Behari Lal Engineering Ltd
- IPO size
- Rs 302 crore
- Day 1 subscription
- 2.03 times
- Shares on offer
- 74,12,769
- Bids received
- 1,50,12,556
- Retail subscription
- 2.69 times
- Non-institutional subscription
- 2.11 times
- QIB subscription
- 73 per cent











