BMW Ventures IPO Day 1 Subscription at 11% with Retail Bids at 0.12x

Mumbai, 24 September 2025: BMW Ventures Limited’s ₹231 crore Initial Public Offering (IPO) witnessed cautious participation on its opening day. By 4:49:18 PM, cumulative bids stood at 25.20 lakh shares against the 2.34 crore shares available, translating to 0.11 times subscription across both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).

BMW Ventures Limited, headquartered in New Delhi, operates in the engineering and infrastructure services industry, focusing on project development and contracting solutions.

Retail Investors Account for 0.12x Subscription as of Closing Bids

The retail category saw bids for 21.75 lakh shares against 1.75 crore shares offered, translating to 0.12 times subscription. This segment contributed the majority of applications on Day 1, with most opting for the cut-off price level. At the cut-off, investors placed bids for 16.99 lakh shares, reflecting a concentration of retail demand at the base price band of ₹94–₹99 per share.

Qualified Institutional Buyers Fully Cover Allocation at 1.08x

Qualified Institutional Buyers (QIBs), excluding anchor investors, bid for 2.52 lakh shares against 2.34 lakh shares offered, resulting in 1.08 times subscription. Data indicated that participation was driven by Foreign Institutional Investors (FIIs), while domestic institutional flows were limited. This early QIB coverage ensured that one investor category completed its allocation on the very first day.

Non-Institutional Investors Lag with 0.02x Subscription

Non-Institutional Investors (NIIs) displayed limited engagement, with bids for only 91,506 shares against 56.16 lakh shares offered, representing 0.02 times subscription. Within this segment, bids above ₹10 lakh (bNII) totalled 25,368 shares, amounting to 0.01 times subscription, while bids between ₹2–₹10 lakh (sNII) were comparatively higher at 66,138 shares, translating to 0.04 times subscription.

IPO Details

The IPO, with a size of ₹231 crore, is being offered in a price band of ₹94–₹99 per share, with a lot size of 151 shares (₹14,949 per lot at the upper end). The issue remains open for bidding from 24 to 26 September 2025, with a proposed listing date of 1 October 2025.

BMW Ventures IPO recorded 0.11 times overall subscription on Day 1, led by QIB interest at 1.08x, while retail stood at 0.12x and NIIs at 0.02x. The public issue continues for two more days, and subscription levels in subsequent sessions will determine the final response across categories before listing.

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