New Delhi: Nearly 6 months after withdrawing from its IPO, Bihar-based BMW Ventures has refiled its papers for an IPO for its market debut. The IPO is for 2.34 crore shares worth Rs. 174 crore for repaying debt. This time, the shares on offer have been reduced by 18,000.
BMW ventures deal in trading and distribution of steel products including TMT bars, GI Sheets, HR Sheets, galvanised colour-coated sheets and doors among others. The company also distributes tractor engines and spare parts to rural distributors. Nevertheless, the steel distribution business contributed to about 98% of its revenue in the last 2 years.
