BMW Ventures IPO Price Band Set at Rs 94 To Rs 99

BMW Ventures Ltd. has set the price band for its initial public offering at Rs 94 to Rs 99 per share. The company's IPO is set to open on Sept. 24 and close on Sept. 26.

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 company is set to use IPO funds worth up to Rs 174 crore for debt repayment and the remaining amount will be kept for its general corporate purposes.

Sarthi Capital Advisors Pvt. will be the sole book-running lead manager and the shares will be listed on the National Stock Exchange and the BSE.

BMW Ventures had first filed draft papers in September 2024, but had withdrawn the offer two months later.

The company 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, the company 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.

"Collectively we are into business of distribution of steel product and tractor Engines and spare parts and fabrication and manufacturing of PEB, PVC and Steel Girders. Our Steel distribution business is much larger in terms of revenue compared to manufacturing or fabrication verticals," the company said.

Since 1996, the distribution of steel products has been the company's primary business vertical or segment, accounting for over 97% of their revenue from operations.