BMW Ventures shares list at 21% discount over IPO price

BMW Ventures share price made a steep stock market debut on Wednesday, October 1. The shares listed at a discount of 21 per cent over the IPO price.

BMW Ventures share price listed at ₹78 apiece on NSE and ₹76 apiece on BSE, as compared to the IPO price of ₹94 to ₹99 per share.

After making debut, the stock immediately fell over 5 per cent intraday low to ₹74.10 on NSE.

Ahead of the listing, the shares of BMW Ventures were trading at ₹0 premium in the grey market, as per investorgain.com.

BMW Ventures IPO details

The mainboard IPO of BMW Ventures opened for subscription on September 24 and closed on September 26. The share allotment of BMW Ventures IPO was finalised on September 29.

Through the book-building issue, the company raised ₹231.66 crore by offering 2.34 crore fresh shares in the price range of ₹94– ₹99 per share.

Overall, the IPO was subscribed 1.50 times, according to NSE data. The retail investor quota was subscribed 0.99 times, while the Non-Institutional Investors (NII) portion was booked 3.03 times, and the Qualified Institutional Buyers (QIBs) segment saw 3.09 times subscription.

Sarthi Capital Advisors Pvt. Ltd. acted as the book-running lead manager, and Cameo Corporate Services Ltd. served as the registrar for the issue.

BMW Ventures is engaged in the trading and distribution of steel products, tractor engines, and spare parts. The company also manufactures PVC pipes and is involved in roll forming, as well as the fabrication of steel girders and pre-engineered buildings (PEBs).

BMW Ventures is involved in the trading and distribution of steel products, tractor engines, and spare parts, along with the production of polyvinyl chloride (PVC) pipes and the fabrication of pre-engineered buildings and steel girders.

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