BMW Ventures IPO Allotment: After the succesful completeion of the initial public offering (IPO) of BMW Ventures, investors are now focussed on the allotment status, which is likely to be finalised on Monday, September 29.
The mainboard IPO was open from September 24 to September 26. The listing date for the IPO is October 1, and the equity shares will debut on both the exchanges, BSE and NSE.
Once the basis of share allotment is fixed, it will then credit the shares into the demat accounts of the eligible allotment holders on September 30, and initiate refunds on the same day.
Investors can check BMW Ventures IPO allotment status online through the websites of BSE and NSE, along with the official portal of IPO registrar. Cameo Corporate Services is the BMW Ventures’ IPO registrar.
Here are steps to check BMW Ventures IPO allotment status.
BMW Ventures IPO Allotment Status on BSE
Step 1] Visit BSE website on this link – https://www.bseindia.com/investors/appli_check.aspx
Step 2] Select ‘Equity’ in the Issue Type
Step 3] Choose ‘BMW Ventures’ in the Issue Name dropdown menu
Step 4] Enter either Application No. or PAN
Step 5] Verify by ticking on ‘I am not robot’ and click on ‘Search’
Your BMW Ventures IPO allotment status will be displayed on the screen.
BMW Ventures IPO Allotment Status Check NSE
Step 1] Visit NSE allotment status page on its website here – https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Step 2] Select ‘Equity and SME IPO bids’
Step 3] Choose ‘BMW Ventures’ from the Issue Name dropdown menu
Step 4] Enter your PAN and Application Number
Step 5] Click on Submit.
BMW Ventures IPO Allotment Status Check on Cameo Corporate Services
Step 1] Visit IPO registrar’s website on this link – https://ipostatus1.cameoindia.com/
Step 2] Choose ‘BMW Ventures’ in the Select IPO dropdown menu
Step 3] Select either Application No, Demat Account, or PAN
Step 4] Enter the details as per the option selected
Step 5] Enter the Captcha code and click on Submit
BMW Ventures IPO GMP Today
BMW Ventures shares are showing a muted trend in the unlisted market with a steady grey market premium (GMP). BMW Ventures IPO GMP today is ₹8 per share. This means that in the grey market, BMW Ventures shares are trading higher by ₹8 than their issue price.
BMW Ventures IPO GMP today signals that the estimated listing price of the stock would be Rs107 apiece, which is at a premium of 8.08% to the IPO price of ₹99 per share.
BMW Ventures IPO Subscription Status, Key details
The BMW Ventures IPO, valued at ₹231.66 crore, is being offered in a price band of ₹94-99 per share. The issue is entirely a fresh offering, with the company set to issue 2.34 crore equity shares.
The IPO has a minimum lot size of 151 shares, meaning retail investors need to invest at least ₹14,949 for a single lot. A special allocation of up to 73,099 shares has been reserved for employees, who will be able to buy shares at a discounted price of ₹70 each.
By end of day 3 of bidding, the issue had been subscribed 1.50 times overall. The retail segment attracted 99 percent subscription, while non-institutional investors (NIIs) subscribed 3.03 times. The Qualified Institutional Buyers (QIB) quota saw stronger demand, receiving bids 3.09 times the shares reserved. In total, the company received applications for 3.51 crore shares against 2.34 crore on offer.
According to BMW Ventures, the proceeds from the IPO will primarily be directed towards meeting working capital requirements, with the remainder earmarked for issue-related expenses and other general corporate purposes.
Sarthi Capital Advisors Pvt. Ltd. is acting as the book-running lead manager, while Cameo Corporate Services Ltd. has been appointed registrar to the issue.
About BMW Ventures
BMW Ventures, established in 1994 and headquartered in Patna, is primarily engaged in the distribution of long and flat steel products such as TMT bars, GC/GP/HR sheets, and wire rods, which contribute more than 97 percent of its revenue. In addition to steel distribution, the company is involved in trading tractor engines and spare parts, while also maintaining smaller operations in PVC pipes, pre-engineered building (PEB) fabrication, and RDSO-approved steel girders for Indian Railways.
Although its core business lies in steel distribution, the company has benchmarked its valuation against listed peers in the downstream steel and pipe manufacturing space, including APL Apollo Tubes and Hi-Tech Pipes.