Behari Lal Engineering IPO Allotment: 108x Oversubscribed
By IPO Desk
Behari Lal Engineering IPO allotment status expected today, August 17. The issue was oversubscribed 108.44x, with GMP indicating a 29.12% premium.
The Behari Lal Engineering IPO garnered significant investor interest, oversubscribing by a massive 108.44 times. Its allotment status is now anticipated today, Monday, August 17, for the mainboard issue worth Rs 301.62 crore.
Listing Premium Outlook
Market sentiment, reflected in the Grey Market Premium (GMP), stood at Rs 83 as of August 17. This figure suggests a potential listing price of Rs 368 per share for Behari Lal Engineering, representing a notable 29.12% premium over the IPO’s upper price band.
Key Allotment & Listing Dates
- Allotment Status Announcement: Monday, August 17
- Refunds to Unsuccessful Applicants: Tuesday, August 18
- Shares Credited to Successful Demat Accounts: Tuesday, August 18
- Tentative Listing on NSE & BSE: Wednesday, August 19
IPO Structure & Pricing
The initial public offering comprised both new share issuance and an offer for sale by existing shareholders. The company had set its price band between Rs 271 and Rs 285 per share.
- Fresh Issue Component: 0.33 crore shares, raising Rs 93 crore
- Offer For Sale (OFS) Component: 0.73 crore shares, totaling Rs 208.62 crore
- Retail Investor Lot Size: 52 shares per application
- Minimum Retail Bid Amount: Rs 14,820, calculated at the upper price band
MUFG Intime India serves as the official registrar for the Behari Lal Engineering IPO, overseeing the allocation and refund processes. Investors can check their status via the registrar’s portal or stock exchange websites.