BMW Ventures IPO: Check Day 3 Subscription Status, GMP And Other Details
The offering, which aims to raise up to Rs 231.66 crore, has a price band set at Rs 94 to Rs 99 per share.
BMW Ventures Ltd.'s initial public offering has opened for its final day of subscription on Friday. The IPO was subscribed 0.22 times or 22% on its second day on Thursday. While, the IPO was subscribed 0.11 times or 11%, led by Institutional investors on its first day on Wednesday.
The offering, which aims to raise up to Rs 231.66 crore, has a price band set at Rs 94 to Rs 99 per share.
The Bihar-based company's IPO will comprise only a fresh issue of 2.34 crore equity shares, with no offer for sale component. The market capitalisation based on the upper price band of BMW Ventures is Rs 858.48 crore.
Investors can bid for a minimum of 151 shares and in multiples thereof. The minimum amount of investment required by a retail investor is Rs 14,949 based on the upper price band.
Sarthi Capital Advisors Pvt. is the sole book-running lead manager.
IPO Details
Opening date: Sept. 24
Closing date: Sept. 26
IPO size: Rs 231.66 crore (fresh issue only)
Price band: Rs 94 to Rs 99 per share
Lot size: 151 shares
Allotment date: Sept. 29
Listing date: Oct. 1
About The Company And Use Of Proceeds
BMW Ventures is involved in the distribution of long and flat steel products. The company deals in steel products including TMT bars, GI sheets, HR sheets, wire rods, galvanised colour-coated sheets, and doors.
The company is also engaged in distribution of tractor engines and spare parts to dealers. Apart from distribution, it is also engaged in fabrication of Pre Engineered Buildings (PEB), manufacturing of PVC pipes and RDSO approved manufacturing of steel girders used in construction of bridges for Indian Railways in Bihar.
The company is set to use proceeds from the fresh issue worth up to Rs 174 crore for debt repayment and the remaining amount will be kept for its general corporate purposes.
As on March 31, 2025, the company had total borrowings of Rs 428 crore on a consolidated basis and accrued interest on borrowings.
BMW Ventures IPO: Subscription Day 3
The BMW Ventures IPO was subscribed 0.37 times or 37% as of 11:30 a.m. on Friday.
Institutional investors (QIB): 2.16 times
Non-Institutional investors (NII): 0.14 or 14%
Retail investors: 0.42 times or 42%
BMW Ventures IPO GMP
The latest grey market premium of BMW Ventures is Rs 8 as of 10:55 a.m., indicating a premium of 8.08% and an estimated listing price at Rs 107.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
