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BMW Ventures IPO Day 3 Highlights: BMW Ventures' initial public offering (IPO), which opened on September 24, is set to close for bidding today, September 26. The company aims to raise up to ₹231.66 crore through the IPO, with the equity shares proposed to be listed on both the NSE and BSE.

The IPO of up to 2.34 crore equity shares has a price range of ₹94-99 per share.

The net proceeds from the IPO will be utilised for the repayment or pre-payment, in full or in part, of certain outstanding borrowings availed by the Company, as well as for general corporate purposes. The issue will open on Wednesday, September 24, 2025, and close on Friday, September 26, 2025.

As of today, the grey market premium (GMP) for BMW Ventures IPO stands at ₹8. With the upper end of the price band set at ₹99, the estimated listing price is projected to be around ₹107. This suggests an expected gain of approximately 8.08% per share upon listing.

The company is engaged in the trading and distribution of steel products, tractor engines and spare parts, as well as the manufacturing of PVC pipes, roll forming, and fabrication of Pre-Engineered Buildings (PEBs) and steel girders.

BMW Ventures IPO closed the third and final day of subscription with 1.5x bids. Here's how different quotas were subscribed:

QIB: 3.09x

NII: 3.03x

Retail: 0.99x

BMW Ventures IPO was booked 0.51x so far on the third day of the bidding process. Here's how different quotas were subscribed:

QIB: 3.07x

NII: 2.98x

Retail: 0.87x

The company has maintained an exclusive distributorship for both long and flat steel products from its Primary Supplier since inception, catering to a network of over 1,250 dealers and institutional buyers across Bihar. Its well-established market position is underscored by the consistent growth in operational scale over the years. The experience of the promoters and their strong, long-standing relationship with the Primary Supplier are expected to provide continued support to the business in the medium term.

BMW Ventures IPO was booked 0.51x so far on the third day of the bidding process. Here's how different quotas were subscribed:

QIB: 2.17x

NII: 0.32x

Retail: 0.56x

The distribution of tractor engines and spare parts contributed 0.55%, 0.89%, and 1.24% to the Company’s total revenue from operations in Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively. The PVC business accounted for 0.03% and 0.08% in Fiscal 2024 and 0.17% in Fiscal 2023. The fabrication of Pre-Engineered Buildings (PEBs) contributed 0.36%, 0.58%, and 0.05% in Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively. Additionally, the fabrication of steel girders contributed 0.26% to revenue from operations in Fiscal 2024.

The Company derived 98.49%, 98.29%, and 98.22% of its revenue from operations from Bihar in Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively. Additionally, all of its manufacturing and fabrication facilities, as well as stockyards, are located in Bihar. As a result, any adverse social, political, or natural developments impacting this region could materially affect the Company’s revenue and overall operational performance.

India’s domestic steel demand grew at a 7% CAGR from FY2018 to FY2024, despite a pandemic-induced dip of 5.3% in FY2021. The sector rebounded strongly in FY2022 with 11.4% growth, driven by revived industrial activity and pent-up demand. By FY2024, steel demand increased to 136.3 MT, up from 100.2 MT in FY2020, largely due to growth in end-use sectors like automobiles, infrastructure, and construction.

Looking forward, demand is projected to increase at an 8%–10% CAGR, reaching 216–240 MT by FY2030. Key demand drivers will continue to be building and construction, infrastructure, and packaging, with Building & Construction (B&C) expected to hold the largest share.

(Source: CRISIL Report)

The company plans to use the funds from the fresh share sale for the following purposes:

The company is engaged in the trading and distribution of steel products, tractor engines, and spare parts, as well as the manufacturing of PVC pipes and roll-formed GP sheets under its flagship Blue Diamond brand. It also undertakes the fabrication of Pre-Engineered Buildings (PEBs) and steel girders.

With a robust distribution network spanning 29 out of Bihar’s 38 districts, the company serves a network of over 1,250 dealers. Its diverse product portfolio includes long steel products (such as TMT bars, galvanized wires, and structural hollow sections), flat steel products (including GC, GP, HR, and CR sheets and coils), and other offerings such as Agrico tools and residential and commercial doors and windows.

BMW Ventures IPO was booked 22% on Day 2 as the IPO received bids for 52,12,369 shares against 2,34,00,000 shares on offer, according to NSE data.

The portion for Qualified Institutional Buyers (QIBs) received 1.08 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 27 per cent. The Non-Institutional Investors category received 5 per cent subscription.

As of today, the grey market premium (GMP) for BMW Ventures IPO stands at ₹8. With the upper end of the price band set at ₹99, the estimated listing price is projected to be around ₹107. This suggests an expected gain of approximately 8.08% per share upon listing.

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