BMW Ventures IPO: Filed DRHP With SEBI

BMW Ventures Limited, the distributor of long and flat steel products, has filed the draft red herring prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India (SEBI), to float an initial public offering (IPO). BMW Ventures IPO is entirely a fresh issue comprising 2,34,18,000 equity shares. BMW Ventures has appointed Sarthi Capital Advisors Private Limited as the book runner lead manager and Cameo Corporate Services Limited as registrar to the issue.

Purpose of BMW Ventures IPO

The company proposes to utilise the net Proceeds towards funding the following objects: 

• Funding working capital requirements of the company
• General Corporate Purposes

About BMW Ventures Limited

Incorporated in 1994, BMW Ventures Limited is engaged in the distribution business and is a known distributor of Long and Flat steel products in the state of Bihar. The company deals in various steel products like TMT bars, GI sheets, HR sheets, Wire rods, Galvanized Color Coated sheets, Doors, GP sheets, Pipes, Hollow Sections, Screws and more. Also, they are the distributor of tractor engines in Bihar.

To diversify its revenue stream, the company is engaged in the distribution of tractor engines and spare parts to dealers. Apart from distribution, it is also involved in the fabrication of Pre Engineered Buildings (PEB), manufacturing of PVC pipes, and RDSO-approved manufacturing of Steel Girders used in the construction of bridges for Indian Railways in Bihar. Tractor engine distribution has contributed 0.89%, 1.24% and 2.07% to the Revenue from Operations for fiscal 2024, fiscal 2023 and fiscal 2022, respectively.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.