Bihar-based BMW Ventures, a steel products distributor, has set the price band for its initial public offering (IPO) at ₹94–₹99 per share as of September 22. The IPO, comprising entirely fresh equity shares, is scheduled for subscription from September 24 to 26.
The company aims to raise ₹231.66 crore through the issuance of 2.34 crore shares. Proceeds from the IPO will primarily be used for working capital requirements (₹173.75 crore), with the balance earmarked for general corporate purposes.
BMW Ventures, which also engages in trading of tractor engines and spare parts, manufacturing of PVC pipes, and fabrication of pre-engineered buildings and steel girders, has structured the IPO allocation as follows: 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors. The minimum bid is 151 shares, with further bids in multiples of 151 shares.
The company will finalize share allotment by September 29, and trading is expected to commence on stock exchanges from October 1.
At the upper end of the price band, BMW Ventures is valued at ₹858 crore. For fiscal year 2025, the firm reported a profit of ₹32.8 crore, marking a 9.6% increase from ₹29.9 crore in the previous year, while revenue rose 6.4% to ₹2,062 crore from ₹1,938.2 crore.
Sarthi Capital Advisors is serving as the sole merchant banker for the IPO.
