New Delhi, Sep 26 (PTI) The initial share sale of BMW Ventures Ltd, a company engaged in marketing and distribution of steel products, was subscribed 1.50 times on the last day of offering on Friday.

The IPO received bids for 3,51,67,598 shares against 2,34,00,000 shares on offer, as per NSE data.

The quota for qualified institutional buyers (QIBs) attracted 3.09 times subscription, and the portion for non-institutional investors was subscribed 3.03 times. The Retail Individual Investors (RIIs) category fetched 99 per cent bidding. The company's Rs 231.66-crore IPO of up to 2.34 crore equity shares has a price range of Rs 94-99 per share.

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

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