Steel Surge: BMW Ventures Ltd IPO Gains Momentum
BMW Ventures Ltd's IPO, linked to steel product distribution, reached 22% subscription by the second day. The offering comprises up to 2.34 crore shares, priced at Rs 94-99. The QIBs portion was oversubscribed at 1.08 times, while retail interest hit 27%. Sarthi Capital Advisors leads the offering.
- Country:
- India
BMW Ventures Ltd, a notable name in steel product distribution, saw its initial public offering (IPO) gain traction with 22% of shares subscribed by the second day. The IPO, featuring a price band of Rs 94-99, has attracted significant investor attention, according to data from the National Stock Exchange (NSE).
The IPO has been divided into various investor categories, with the Qualified Institutional Buyers (QIBs) segment reaching 1.08 times the subscription mark. Meanwhile, Retail Individual Investors (RIIs) subscribed to 27% of their designated portion, reflecting moderate retail engagement. Non-Institutional Investors accounted for 5% subscription.
The offering covers up to 2.34 crore equity shares, set to close on Friday. Sarthi Capital Advisors acts as the book-running lead manager for this IPO, signaling a strategic move in the financial markets.
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