The number of RS 231.66-Crore is open on 24 September and offers shares in the price band of RS 94–99 each. The IPO from BMW Ventures consisted of just a new component.
The allocation of the share in the offer will be completed on Monday 29 September, with the shares planned to mention on the Bourses on 1 October. Applicants can check their allocation status via the registrar, Cameo Corporate Services, or directly via the BSE platform. Here is how:
Check entry on Cameo Corporate Services (registrar)
Visit the IPO status page of Cameo Corporate
(https://ipostatus1.cameoindia.com/))
Select BMW companies in the drop -down menu.
Enter the application number or pannum number
Your allocation status is displayed, from which the number of allocated shares is shown.
Check allocation for BSE (Exchange website)
Go to the BSE IPO allocation page
((https://www.bseindia.com/investors/appli_check.aspx))
Select equity under issue type.
Choose BMW Ventures IPO from the drop -down list
Enter your application number and pan.
Click search.
With the problem that is only registered once, the allocation opportunities are high. Investors who miss receive refunds/unblocked funds before they are mentioned.
BMW Ventures IPO GMP
BMW Ventures IPO has a gray market premium (GMP) from RS 2 as of 27 September. With the price band set at RS 99, the estimated list of RS 101 is, which indicates an expected profit of 2.02% per share.
BMW Ventures -Subscription Details
According to BSE data, Qibs led the bidding process, subscribed 3.09 times and offered itself for 7.23 Lakh shares against 2.34 Lakh shares reserved for them.
Non-institutional investors or HNIs were in line the next and offered 3.03 times the part reserved for them. The Retail Investor section was almost entirely at around 0.99x or 99%, data showed.
Company overview
BMW Ventures Limited works in several business lines, including trade and distribution of steel products, tractormotors and spare parts, as well as the production of PVC pipes, rolling and pre-developed buildings. The company has a strong position in Bihar and distributes products via a network of 1,299 dealers in 29 districts.
The company intends to submit RS 173.75 Crore of the net proceeds in the direction of the requirements of the working capital and RS 57.91 CRORE for general business purposes.
Also read: Curefoods increases RS 160 crore from Binny Bansal’s 3state ventures in pre-ipo placement
The BMW Ventures product portfolio includes TMT -Bars, GI and HR sheets, wire bars, GP plates, 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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