BMW Ventures Share Price on NSE, BSE: BMW Ventures Ltd made its debut on the Indian stock exchanges today, listing at a significant discount to its issue price, disappointing investors who had bet on strong listing gains.
The stock opened at Rs 80.00 on the BSE, registering a 19% decline from its issue price of Rs 99. It mirrored similar sentiment on the NSE, where the stock was listed at Rs 78, even lower than the BSE debut price.
BMW Ventures IPO Subscription Status
Despite the underwhelming listing, the company’s initial public offering (IPO) had attracted considerable interest during its subscription window from September 24 to 26, garnering bids for 3.51 crore shares against the offer of 2.34 crore shares — translating to an overall subscription of 1.50 times.
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The IPO saw varied interest across investor categories:
– Retail investors subscribed to 99% of their quota.
– Non-institutional investors (NIIs) showed stronger appetite, subscribing 3.03 times.
– Qualified institutional buyers (QIBs) bid 3.09 times the shares on offer.
BMW Ventures IPO Details
The ₹231.66 crore public issue consisted entirely of a fresh issue of 2.34 crore equity shares, with the price band set between ₹94 and ₹99 per share.
Sarthi Capital Advisors Private Limited is the book-running lead manager, and Cameo Corporate Services Limited is the registrar for the IPO.
Accoprding to RHP, BMW Ventures plans to deploy the net proceeds from the IPO towards:
– Repayment or pre-payment of certain outstanding borrowings
– Funding working capital requirements
– General corporate purposes
About BMW Ventures
The company operates in multiple sectors, including:
– Trading and distribution of steel products
– Tractor engines and spare parts
– Manufacturing of PVC pipes and roll-forming products
– Fabrication of pre-engineered buildings (PEBs) and steel girders
