BMW Ventures IPO fully subscribed 1.5 times on final day of bidding; check GMP

BMW Ventures IPO sees strong subscription on Day 3.

BMW Ventures IPO got subscribed 1.5 times on the final of share sale on Friday. The initial public offer of the company engaged in marketing and distribution of steel products received bids for 3.51-crore shares against 2.34-crore shares on offer, according to NSE data.

The portion for Qualified Institutional Buyers (QIBs) received 3.09 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 99 percent. The Non-Institutional Investors category received 3.03 times subscription.

BMW Ventures IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of BMW Ventures are commanding a GMP of over 8 percent in the unregulated market. Investorgain quoted a GMP of Rs 8 for the shares of the company, indicating a listing gain of 8.08 percent.

The IPO of up to 2.34 crore equity shares has a price range of Rs 94-99 per share.

BMW Ventures IPO allotment is expected by September 29, while the share listing is proposed to take place on October 1.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.