BMW Ventures shares commenced trading on the stock exchange on Wednesday, October 1. The shares debuted at a price lower than the IPO price—approximately 21% lower. They were listed at ₹78 on the NSE and ₹76 on the BSE, while the IPO price range was set between ₹94 and ₹99 per share. Following the listing, the share price fell by more than 5% during the day, reaching ₹74.10 on the NSE. Prior to the listing, the shares had been trading at the IPO price in the grey market, as reported by investorgain.com. The IPO opened for subscription from September 24 to September 26, with share allotments completed on September 29.
BMW Ventures successfully raised ₹231.66 crore by issuing 2.34 crore new shares priced between ₹94 and ₹99 each. Overall, the IPO was subscribed 1.5 times, with retail investors subscribing almost 1 time, Non-Institutional Investors (NII) subscribing 3.03 times, and Qualified Institutional Buyers (QIBs) subscribing 3.09 times. Sarthi Capital Advisors Pvt. Ltd. managed the IPO process, while Cameo Corporate Services Ltd. served as the registrar. BMW Ventures is involved in the trade and distribution of steel products, manufacturing tractor engines and spare parts, producing PVC pipes, and constructing steel girders and pre-engineered buildings (PEBs).