Behari Lal Engineering IPO to list on Indian exchanges tomorrow
Behari Lal Engineering's IPO is all set to list on Indian stock markets tomorrow. The offer, open from August 12-14, was a hit, attracting 108.44 times more bids than available shares.
Shares can expect them to be credited to investors' demat accounts today, with refunds expected today.
Behari Lal Engineering IPO heavily oversubscribed
Investor interest was sky-high across the board: retail investors subscribed over 53 times their quota, while big players went even higher.
The price band was ₹271-₹285 per share, but with a gray market premium of ₹105, the listing price could reach around ₹390, a solid jump.
Funds raised will help upgrade manufacturing in Punjab (think rooftop solar), pay off some loans, and cover general expenses.
Emkay Global managed the issue, adding extra credibility for those watching closely.