BMW Ventures shares settled 25 percent lower on the debut day at Rs 74.10 per share on the NSE. The stock finished the trade at the 5 percent lower circuit limit.
The shares were listed at a discount on the stock exchanges on October 1. The issue was subscribed 1.5 times in the primary market between September 24-26.
Shares of BMW Ventures were listed at Rs 78 per share on the NSE, a discount of 21.21 percent to its issue price. The company's Rs 231.66-crore IPO of up to 2.34 crore equity shares had a price range of Rs 94-99 per share.
On the BSE, the shares of the company were listed at Rs 80 per share. The company's market capitalization post listing of shares stood at Rs 693.72-crore.
The company is engaged in marketing and distribution of steel products. The initial share sale received bids for 3.51-crore shares against 2.34-crore shares on offer, as per NSE data.
The quota for qualified institutional buyers (QIBs) attracted 3.09 times subscription, and the portion for non-institutional investors was subscribed 3.03 times. The Retail Individual Investors (RIIs) category fetched 99 per cent bidding.
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