Behari Lal Engineering IPO listing: Behari Lal Engineering share price made a strong debut on the BSE and the NSE on Wednesday, 19 August, defying weak stock market sentiment.
Behari Lal Engineering shares were listed at ₹458 on the BSE, a premium of nearly 61% over the issue price of ₹285. On the NSE, the stock debuted at ₹465, up over 63% from the issue price.
After a strong listing, the stock further extended gains, rising 72% from the issue price to ₹489.35 on the BSE and ₹489 on the NSE.
According to grey market sources, the stock’s listing exceeded expectations, with the last grey market premium (GMP) on Behari Lal Engineering shares at ₹133, suggesting the stock could list at ₹418, a premium of nearly 47%.
Meanwhile, market benchmarks, the Sensex and the Nifty 50, declined by up to 0.40% in the morning session on Wednesday.
Radhika Goyal is Author of Taxconcept Gurugram head office, for deeply reported tax, gst and income tax articles on issues that matter. He splits her time between New Delhi and Bengaluru, and has worked as a reporter, a podcaster and an editor for publications across India.