BMW Ventures, the steel products distributor, has fixed price band for its maiden public issue at Rs 94-99 per share on September 22. The IPO is scheduled to hit Dalal Street on September 24 and close on September 26.
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.
BMW Ventures that also involves in trading of tractor engines and spare parts, and manufacturing of PVC pipes and fabrication of pre-engineered buildings and steel girders will utilise Rs 173.75 crore of IPO proceeds for its working capital requirements, and the remainder funds for general corporate purposes.
In case of allocation of IPO shares, the Bihar-based firm has reserved up to 50 percent of offer size for qualified institutional buyers, 35 percent for retail investors, and 15 percent for non-institutional investors. Investors can bid for a minimum of 151 shares and in multiples of 151 shares thereafter.
It will finalise the IPO share allotment by September 29, while the trading in BMW Ventures shares will commence on the bourses with effect from October 1.
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The company that is valued at Rs 858 crore at the upper price band has registered profit at Rs 32.8 crore for the fiscal year 2025, growing 9.6 percent compared to Rs 29.9 crore in previous year. Revenue during the same period increased by 6.4 percent to Rs 2,062 crore, up from Rs 1,938.2 crore.
Sarthi Capital Advisors is acting as the sole merchant banker for the BMW Ventures IPO.
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