BMW Ventures IPO opens for public subscription in the primary market today. The issue is an entirely fresh issue.
Here are key things to know ahead of issue opening
1) Price band: The company has set a price band of Rs 94-99 per share for its Rs 231.66-crore issue.
2) Issue dates: The public issue opens for subscription on September 24 and concludes on September 26.
3) IPO objective: The company aims to raise Rs 231.66 crore via initial public offering of 2.34 crore equity shares, which is an entirely fresh issue.
4) IPO GMP: Shares of the company are commanding a flat GMP ahead of the issue opening, according to platforms tracking the grey market activities.
5) IPO allotment: BMW Ventures IPO share allotment is expected by September 29.
6) Share listing: Share listing is scheduled on October 1.
7) IPO objective: The company will utilise Rs 173.75 crore of IPO proceeds for its working capital requirements, and the remainder funds for general corporate purposes.
8) BMW Ventures is the steel products distributor, while the firm is also involved in trading of tractor engines and spare parts and manufacturing of PVC pipes and fabrication of pre-engineered buildings and steel girders.
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