For investors, it can be quite challenging to decide if the BMW Ventures IPO is a good investment or not. If you are unsure and still thinking about whether to apply or skip this IPO, don’t worry. In this article, we present the top key factors and a detailed review of the BMW Ventures IPO. This will help you analyze the strengths, risks, and financial details of the BMW Ventures IPO, making your investment decision better.
About Company
BMW Ventures Limited, founded on October 07, 1994, is one of the growing companies engaged in the trading/Distribution of steel products, tractor engines, and spare parts. Moreover, the company is also involved in the manufacturing of PVC pipes and roll forming, and the fabrication of pre-engineered buildings (PEB) and steel girders.
The company is engaged in the making of various steel products such as TMT bars, GI sheet, HR sheet, Wire rods, Galvanized Color Coated sheet, Doors, GP sheet, Pipes, Hollow Sections, Screw, and more. BMW Ventures includes a supported team of 110 employees as of July 31, 2024. Aside from distributing steel products, the company is also occupied with the fabrication of Pre-Engineered Buildings (PEB), the manufacturing of PVC pipes, and the RDSO-approved manufacturer of Steel Girders used in the construction of bridges for Indian Railways in Bihar.
Strengths
- The promoters have strong experience and long-standing relationships with the principal supplier.
- BMW Ventures comes with established business relationships with key industry leaders.
- They are involved in the selling and distribution of a wide range of products to many customers in Bihar, India.
Weaknesses
- In FY25, most of the company’s revenue came from Lead and Lead Alloy Ingots (39.46%) and Copper and Copper Ingots (44.82%). Meaning any drop in the demand of these products can negatively impact the business, cash flow, and overall condition.
- The company’s revenue mainly comes from the top 10 customers, and most of them do not have a long-term contract with the company. Losing any of these customers can badly affect the overall business.
- The company’s valuation may be higher than that of some peers and the industry, which can adversely impact the business and cash flow.
- Not being able to diversify its offerings or expand into new product categories can negatively impact the business, cash flow, and overall performance.
BMW Ventures IPO Review
| Reviewer | Recommendation |
| IPO Watch | Neutral |
| Capital Market | Avoid |
| Canara Bank | |
| DRChoksey FinServ | |
| Emkay Global | |
| Hem Securities | |
| IDBI Capital | |
| Marwadi Shares | |
| Nirmal Bang | |
| SBICAP Securities | |
| Sharekhan | |
| SMC Global | |
| Sushil Finance | |
| Swastika Investmart | |
| Ventura Securities | |
| Geojit | |
| Reliance Securities | |
| BP Wealth | |
| ICICIdirect | |
| Choice Broking |
BMW Ventures IPO Details
| IPO Open Date: | September 24, 2025 |
| IPO Close Date: | September 26, 2025 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹94 to ₹99 Per Share |
| Issue Size: | ₹231.66 Crores |
| Fresh Issue | ₹231.66 Crores |
| Issue Type | Book Built Issue |
| Registrar | Cameo Corporate Services Limited |
| IPO Lead Managers | Sarthi Capital Advisors Private Limited Cameo Corporate Services Limited |
| Basis of Allotment | September 29, 2025 |
| IPO Listing Date: | October 1, 2025 |
| Listing | BSE, NSE |
Financial Performance Trend Details
| Particulars | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Total Income | ₹2,067.33 crores | ₹1,942.03 crores | ₹2,018.12 crores |
| EBITDA | ₹87.39 crores | ₹72.56 crores | ₹67.85 crores |
| EBITDA Margin (%) | 4.24% | 3.74% | 3.37% |
| Profit after Tax (PAT) | ₹32.82 crores | ₹29.94 crores | ₹32.66 crores |
| Net Worth | ₹146.80 crores | ₹186.71 crores | ₹156.48 crores |
| Total Borrowings | ₹428.39 Crores | ₹395.30 Crores | ₹283.58 Crores |
Peer Comparison with the Company
| Name of the Company | Face Value per Equity Share (₹) | P/E | EPS (Basic) (₹) | RoNW (%) | CMP(₹) |
| BMW Ventures Limited | ₹10 | [●] | ₹5.18 | 16.54% | [●] |
| Shiv Aum Steel Limited | ₹10 | 43.46x | ₹7.11 | 8.36% | ₹309 |
Key Performance Indicator
| KPI | Values |
| ROE | 15.62% |
| ROCE | 12.80% |
| Debt/Equity | 2.04 |
| RoNW | 16.54% |
| PAT Margin | 1.59% |
| EBITDA Margin | 4.24% |
| Price to Book Value | 2.98 |
Promoters & Track Records, if any
- Nitin Kishorepuria is the Promoter and the Managing Director of the Company. He holds 1,75,97,200 shares, representing 27.79% of shareholding in the company.
- Rachna Kishorepuria is the Promoter and the Whole-Time Director of the Company. He holds 44,64,000 shares, representing 7.05% of the shareholding in the company.
- Bijay Kumar Kishorepuria is the Promoter and the Whole-Time Director of the Company. He holds 39,66,600 shares, representing 6.26% of the shareholding in the company.
- Sabita Devi Kishorepuria is the Promoter and the Non-Executive Director of the Company. He holds 95,750 shares, representing 9.58% of the shareholding in the company.
Information on Industry’s P/E Ratio
The company BMW Ventures IPO did not show the P/E ratio in the RHP. However, let’s check out the Metal industry’s P/E ratio to understand it more.
The company’s P/E ratio ranges from a low of 33.44 to a high of 40.13, with an industry composite of 35.90.
Object of the IPO
- The proceeds raised from the fresh issue will be utilized towards the working capital requirements of the Company.
- Lastly, the remaining funds will be used for the company’s general corporate purposes.
BMW Ventures IPO – Should You Apply or Not?
The IPO of BMW Ventures is a result of the expanding steel and machinery distribution industry, which also has a well-established dealer network in Bihar, consistent financial performance, and plans to strengthen its operations by repaying debt. Investors should exercise caution on the limited geographic diversity and regional economic dependency, as the value seems a bit on the higher side.
Suitable for investors with a medium to long-term view and a high risk tolerance. Investors who are afraid of risk may choose to wait for post-listing performance before making a decision.
Please note:
Investors are advised to make their own decisions and apply entirely at their own risk. This article is written using information from the company’s RHP (Red Herring Prospectus) data and online sources. If you have any queries, kindly contact the IPO Watch Team.
