BMW Ventures IPO allotment soon. Check GMP, status, and other details

The initial public offering (IPO) of BMW Ventures closed with 1.5 times subscription following a muted response on the final day of bidding on Friday, September 26. Across all categories, the bulk of the bids came from qualified institutional buyers (QIBs) and non-institutional investors.

The Rs 231.66-crore issue opened on September 24, offering shares in the price band of Rs 94–99 apiece. BMW Ventures' IPO consisted of only a fresh issue component.

The share allotment in the offer will be finalised on Monday, September 29, with the stock scheduled to list on the bourses on October 1. Applicants can check their allotment status either through the registrar, Cameo Corporate Services, or directly via the BSE platform. Here’s how:

Checking allotment on Cameo Corporate Services (Registrar)

Visit the Cameo Corporate IPO status page

(https://ipostatus1.cameoindia.com/)

Select BMW Ventures from the dropdown menu.

Enter Application number or PAN number

Your allotment status will be displayed, showing the number of shares allotted.

Checking allotment on BSE (Exchange website)

Go to the BSE IPO allotment page
(https://www.bseindia.com/investors/appli_check.aspx)

Select Equity under issue type.

From the dropdown, choose BMW Ventures IPO

Enter your application number and PAN.

Click Search.

With the issue subscribed to just 1x, the allotment chances are high. Investors who miss out will get refunds/unblocked funds before listing.

BMW Ventures IPO GMP

BMW Ventures IPO has a grey market premium (GMP) of Rs 2 as of September 27. With the price band fixed at Rs 99, the estimated listing price is Rs 101, indicating an expected gain of 2.02% per share.

BMW Ventures Subscription Details

As per BSE data, QIBs led the bidding process, subscribing 3.09 times and bidding for 7.23 lakh shares as against 2.34 lakh shares reserved for them.

Non-institutional investors or HNIs were next in line, bidding 3.03 times the portion reserved for them. The retail investor portion was almost fully at about 0.99x or 99%, data showed.

Company Overview

BMW Ventures Limited operates across multiple business lines, including trading and distribution of steel products, tractor engines, and spare parts, as well as manufacturing PVC pipes, roll-forming, and pre-engineered buildings. The company has a strong foothold in Bihar, distributing products through a network of 1,299 dealers across 29 districts.

The company plans to deploy Rs 173.75 crore of the net proceeds toward working capital requirements and Rs 57.91 crore for general corporate purposes.

Also read: Curefoods raises Rs 160 crore from Binny Bansal’s 3State Ventures in pre-IPO placement

BMW Ventures’ product portfolio includes TMT bars, GI and HR sheets, wire rods, GP sheets, pipes, doors, and hollow sections. The company also operates six stockyards—one in Purnea and five in Patna—and has a workforce of 639 employees.

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