Behari Lal Engineering, CSM Technologies file IPO papers with SEBI
Behari Lal Engineering from Punjab and CSM Technologies from Bhubaneswar have both filed papers with SEBI to launch their IPOs.
Behari Lal is aiming to raise ₹110 crore through a mix of fresh shares and an offer-for-sale of about 7.85 million shares by existing shareholders.
Meanwhile, CSM plans a pure fresh issue of around 12.9 million shares to fund its expansion.
Business models and financials of the 2 companies
Behari Lal Engineering, started in 1995 and converted to a public limited company in 2024, creates custom iron and steel products for industries like power and heavy engineering.
The money raised will go toward upgrading equipment, paying off debt, and general business needs. Promoters Rajesh Garg and Lovlish Garg are also selling some of their stake.
CSM Technologies, founded in 1998 and converted into a public company in 2025, delivers digital transformation and IT consulting globally—think USA, UAE, Canada, Kenya, Rwanda, plus India.
Last financial year (FY2025), it pulled in ₹1,992 crore revenue with ₹130 crore profit after tax. Funds from the IPO will support tech upgrades, growth projects, debt repayment, and other corporate goals.
Other details about the upcoming IPOs
CSM's IPO is managed by Keynote Financial Services with KFin Technologies as registrar; promoters are Priyadarshi Pany and Lagna Panda.
Both companies are looking to fuel their next phase of growth through these public offerings—so if you're curious about new listings or just want to see how Indian businesses are scaling up globally, these two might be worth keeping an eye on!