BMW Ventures Announces IPO: Price Band Set at Rs 94-99 per Share
BMW Ventures Ltd., a Bihar-based steel product distributor, has set the price band for its IPO at Rs 94-99 per share. The offering period is from September 24 to September 26, with 2.34 crore equity shares available. The company plans to use up to Rs 174.00 crore for debt repayment and the remainder for general corporate purposes. BMW Ventures, operating since 1996, primarily focuses on steel product distribution but has diversified into tractor parts, PVC pipes, and steel girders manufacturing. Sarthi Capital Advisors is managing the IPO, which will be listed on NSE and BSE.
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BMW Ventures Ltd., a Bihar-based company primarily engaged in steel product distribution, has announced the details of its upcoming Initial Public Offering (IPO). The company has set the price band for its shares at Rs 94 to Rs 99, signaling its readiness to enter the public market.
IPO Details
- Offering Period: September 24 to September 26
- Price Band: Rs 94 - Rs 99 per share
- Issue Size: 2.34 crore equity shares (fresh issue)
- Listing: Shares to be listed on NSE and BSE
Fund Utilization
The company plans to strategically use the IPO proceeds:
- Up to Rs 174.00 crore for debt repayment
- Remaining funds allocated for general corporate purposes
Company Profile
BMW Ventures has been operating since 1996, with its core business in steel product distribution accounting for over 97% of its revenue. The company has diversified its operations to include:
- Distribution of tractor engines and spare parts
- Manufacturing of PVC pipes
- Production of Pre Engineered Buildings
- Manufacturing of Steel Girders for Indian Railways
IPO Management
Sarthi Capital Advisors has been appointed as the sole book-running lead manager for this public offering.
Previous Filing
BMW Ventures had previously filed draft papers for an IPO but withdrew the offer two months later before refiling. This current offering represents the company's renewed efforts to go public.
The IPO presents an opportunity for investors to participate in the growth of a company with a strong presence in the steel distribution sector and diversified manufacturing operations. Potential investors are advised to carefully review the offer documents and consider their financial goals before making any investment decisions.
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