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India’s steel distribution sector represents a foundational industrial segment with domestic consumption expanding at 7% CAGR from 100.2 million tonnes in FY20 to 136.3 million tonnes in FY24. The market, valued at ₹15.54 trillion in FY24, is driven by infrastructure development and construction activities accounting for 51.79% of demand. Bihar’s steel distribution TAM stands at approximately ₹124,000 million based on 1.5 million tonne state demand.
| Detail | Information |
|---|---|
| IPO Open Date | Sep 24, 2025 |
| IPO Close Date | Sep 25, 2025 |
| Price Band | ₹94– ₹99 per share |
| Lot Size | 151 shares |
| Issue Size | ₹2,316 million |
| Listing At | BSE, NSE |
| Tentative Listing Date | To be announced |
The PEB and fabrication segment shows exceptional growth at 25-27% CAGR in Bihar, with TAM projected at ₹35,000 million by FY28. Sector outlook remains robust with 216-240 million tonnes consumption expected by FY30, supported by government infrastructure allocation of ₹11,200,000 million and Production Linked Incentive schemes worth ₹63,220 million.
BMW Ventures, headquartered in Bihar, is a leading steel distribution and manufacturing provider with over two decades of industry experience. The company distributes long and flat steel products, tractor engines, PVC pipes, and pre-engineered buildings (PEB), generating 98.43% of fiscal 2025 revenue from steel operations through 1,299 dealers across 29 districts. With RDSO-certified fabrication and six stockyards, BMW Ventures has expanded into PVC pipe production, roll forming, and steel girder manufacturing. Strong infrastructure demand in Bihar continues to drive the company’s robust market presence and growth within India’s dynamic steel sector.
BMW Ventures reported moderate financial performance, with revenue from operations experiencing a modest CAGR of 1.16% over FY23-FY25 to reach ₹20,620.35 million in FY25, up from ₹20,150.97 million in FY23, reflecting stable operational scale despite challenging market conditions. The company maintained consistent return ratios with ROE of 15.62% and ROCE of 12.80% in FY25, while operational metrics remained stable with a dealer network expanding from 1,122 dealers in FY23 to 1,299 dealers in FY25. PAT grew at a modest CAGR of 0.25% from ₹326.59 million in FY23 to ₹328.23 million in FY25, with PAT margin remaining relatively flat at 1.59% in FY25 compared to 1.62% in FY23, showcasing the company’s ability to maintain profitability despite low-margin distribution business. The company’s strong market positioning as the exclusive distributor for its primary supplier across 29 of Bihar’s 38 districts, combined with its diversification into PEB fabrication and steel girders manufacturing with RDSO approval, highlights BMW Ventures’ established distribution network and growing fabrication capabilities in Bihar’s expanding steel sector valued at ₹124,000 million.
Objects of the issue:
- Repayment/pre-payment, in full or in part, of certain Outstanding borrowings availed – INR 1737.5 million
- General Corporate purposes
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