BMW Ventures IPO gets subscribed 11 pc on first day

New Delhi, Sep 24 (PTI) The initial public offer of BMW Ventures Ltd, a company engaged in marketing and distribution of steel products, got subscribed 11 per cent on the first day of share sale on Wednesday.

The IPO received bids for 25,38,612 shares against 2,34,00,000 shares on offer, as per NSE data.

Qualified Institutional Buyers' (QIBs) portion attracted 1.08 times subscription. Retail Individual Investors' quota was subscribed 13 per cent and non-institutional investors' category was booked 2 per cent.

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

The three-day public offering would conclude on September 26. Sarthi Capital Advisors is the book running lead manager to the IPO. PTI SUM MR