BMW Ventures IPO gets subscribed 22 pc

New Delhi, Sep 25 (PTI) The initial public offer of BMW Ventures Ltd, a company engaged in marketing and distribution of steel products, got subscribed 22 per cent on the second day of share sale on Thursday.

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.

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 Friday. Sarthi Capital Advisors is the book-running lead manager to the IPO. PTI SUM SUM MR