BMW Ventures IPO opens on Sept 24: Check price band, issue size, key dates and more

BMW Ventures IPO: The initial public offering of BMW Ventures, which provides steel solutions, will open for subscription on Wednesday, September 24. The issue will conclude on September 26. The price band has been fixed at ₹94 to ₹99 per share.

The company is seeking to raise ₹231.66 crore via fresh issuance of 2.34 crore shares. There is no offer-for-sale component.

The objectives of the issue include repayment of certain outstanding borrowings and general corporate purposes. The company also expects listing to enhance its visibility and brand image among existing and potential customers.

BMW Ventures IPO: Lot size

A lot consists of 151 shares and in multiples thereafter. The company has set aside 75% of the net offer for retail individual investors, 24% for non-institutional investors and the remaining 1% for qualified institutional buyers.

BMW Ventures IPO allotment and listing dates

The company's shares will be listed on the National Stock Exchange (NSE) and the BSE (formerly Bombay Stock Exchange).

Sarthi Capital Advisors Private Limited is the IPO's book-running lead manager, while Cameo Corporate Services Ltd is the registrar.

About BMW Ventures

BMW Ventures is engaged in the trading and distribution of steel products, tractor engines and spare parts, the manufacturing of poly vinyl chloride (PVC) pipes, and the fabrication of pre-engineered buildings and steel girders.

Its products include TMT bars, GI sheets, HR sheets, galvanised colour-coated sheets, wire rods, doors, GP sheets, hollow sections, pipes, screws and other steel-related products. It operates six stockyards: five in Patna and one in Purnea.

BMW Ventures financials