BMW Ventures IPO Opens On Sept. 24: Latest GMP Indicates Flat Listing, Check Key Details

BMW Ventures Ltd. is set to launch an initial public offering (IPO) to raise over Rs 200 crore from the primary market. The company is a manufacturer of steel products. Ahead of its listing, the grey market premium (GMP) indicated a flat listing for the offer. Investors who wish to bid for shares in the IPO should check the following details before making a final call.

According to InvestorGain, the GMP for the BMW Ventures IPO was nil as of 8:01 a.m. on Sept. 23. It indicates a flat listing for the offer. However, new trends could emerge once the issue opens for subscription. 

Note: GMP does not represent official data and is based on speculation.

The BMW Ventures IPO is a book-built issue of Rs 231.66 crore. It comprises an entirely fresh issue of 2.34 crore shares.

To participate in the IPO, retail investors need to bid for a single lot size of 151 shares, requiring an investment of Rs 14,949. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,09,286. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots, leading to an investment of Rs 10,01,583.

The price band for the IPO is set between Rs 94 and Rs 99 per share.

The subscription window will be open from Sept. 24 to Sept. 26, with the allotment expected to be finalised on Sept. 29. The company will transfer shares to the demat accounts of successful bidders on Sept. 30. Refunds for non-allottees will be done on Sept. 29.

Shares of BMW Ventures are tentatively scheduled to list on the BSE and NSE on Oct. 1.

Qualified Institutional Buyers (QIBs) will be offered up to 1% of the net offer. Retail investors will be allocated at least 75% of the offer, and a minimum of 24% will be reserved for Non-Institutional Investors. 

Sarthi Capital Advisors Ltd. is the book-running lead manager, and Cameo Corporate Services Ltd. is the registrar of the issue.

The company will use proceeds from the IPO to fund working capital requirements and for general corporate purposes.

The company is involved in the marketing and distribution of steel products. It also manufactures polyvinyl chloride (PVC) pipes on a small scale. 

The company reported a 9.62% year-on-year (YoY) increase in profit after tax (PAT) to Rs 32.82 crore in FY25 from Rs 29.94 crore in FY24. Revenue from operations rose 6.4% YoY to Rs 2,062.04 crore in FY25 from Rs 1,938.2 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.