Punjab-based Behari Lal Engineering raises ₹90.48cr ahead of ₹301.6cr IPO
Business
Behari Lal Engineering, a Punjab-based company making iron and steel products, just pulled in ₹90.48 crore from nine anchor investors before its big IPO launch.
The IPO is set to raise ₹301.6 crore in total, with shares priced between ₹271 and ₹285 each.
WhiteOak Capital leads ₹20cr anchor investment
WhiteOak Capital led the pack by investing ₹20 crore, joined by Bandhan Mutual Fund, 360 ONE, Singularity AMC, Tata AIA Life Insurance, and Amicorp Capital (Mauritius).
The funds will help upgrade factory equipment, add solar panels at their Punjab sites, pay off some debt, and cover general business needs.