BMW Ventures IPO Sees Strong Investor Demand

BMW Ventures Ltd's IPO was oversubscribed 1.50 times, with institutional and non-institutional investors showing strong interest. The IPO consisted of up to 2.34 crore equity shares priced between Rs 94-99 per share, raising approximately Rs 231.66 crore. Sarthi Capital Advisors managed the book-running.

The initial public offering of BMW Ventures Ltd, a company specializing in the marketing and distribution of steel products, was oversubscribed by 1.50 times on its final day, Friday.

According to NSE data, the IPO received bids for 3,51,67,598 shares against an offering of 2,34,00,000 shares.

The qualified institutional buyers (QIBs) quota saw demand at 3.09 times, while non-institutional investors subscribed 3.03 times. Retail Individual Investors (RIIs) participated with 99 percent subscription. The IPO, worth Rs 231.66 crore, offered up to 2.34 crore equity shares priced between Rs 94-99 per share. Sarthi Capital Advisors acted as the book-running lead manager.

(With inputs from agencies.)