BMW Ventures Aims to Raise ₹ 231 Crore from the issue by offering 2.34 Crore Shares.
The Initial Public Offering (IPO) of BMW Ventures Limited (BMWV) Opens today and closes on September 26 at a price band of ₹ 94- ₹ 99 per share. The PVC Pipes and Fabrication Company, Headquarted in Bihar, AIMS at Raising ₹ 231 Crore from the issue by offering 2.34 Crore Shares. Investors can bid in lots of 151 shares.
BMWV is engaged in trading/distribution of steel products, tractor engines and spare parts; Manufacturing of Pvc Pipes and Roll Forming; And fabrication of pre-enginered buildings (peb) and steel girders. The company specialises in the distribution of long and flat steel products across Bihar, India. As of March 2025, The Company’s Dealer Network Comprised of 1,299 dealers Spanning Across 29 Districts (Out of 38 Districts) in Bihar.
UP to 50 per cent of the IPO is reserved for Qibs, 35 per cent for retail investors and the rest for niis. The company will utilize ₹ 173.75 Crore of iPo Proceeds for its Working Capital Requirements, and the Remainder Funds for General Corporate Purposes.
Sarthi Capital Advisors Pvt Ltd is serving as the book-running lead manager for the issue, while cameo corporate services ltd is the registrar.
SBI Securities’ Views: Valuation: BMW DERIVES ~ 98 per cent of its Revenues from Distribution of Steel Products in the State of Bihar. The company had a strong market leadership of ~ 19 per cent in the tmt bars segment in bihar during fY24. Looking at the Financial Growth Track Record of BMWV, its Revenue/Pat Has Shown MUUTED CAGR of 1.2 per cent/0.3 per cent between fy23-25. D/E is 2.0x as of fY25, however, the same is expected to reduce to <1.0X post issue resulting in improvated Profitability. Operating Cash Flows Have also also Seen Improvement in FY25. At the upper price band of ₹ 99, the company is valied at post issue is and e and ebitda multiple of 26.2x and 12.7x respectively.
Considering the expensive Valuation, in Conjunction with the Risk Factors Mentioned Above, We recommend investors to avoid the issue.
Published on September 24, 2025