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The initial public offering (IPO) of BMW Ventures closed with 1.5 times subscription following a muted response on the final day of bidding on Friday, September 26. Across all categories, the bulk of the bids came from qualified institutional buyers (QIBs) and non-institutional investors. The Rs 231.66-crore issue opened on September 24, offering shares in the price band of Rs 94–99 apiece. BMW Ventures' IPO consisted of only a fresh issue component.The share allotment in the offer will be finalised on Monday, September 29, with the stock scheduled to list on the bourses on October 1. Applicants can check their allotment status either through the registrar, Cameo Corporate Services, or directly via the BSE platform. Here’s how:Checking allotment on Cameo Corporate Services (Registrar)Visit the Cameo Corporate IPO status page(https://ipostatus1.cameoindia.com/)Select BMW Ventures from the dropdown menu.Enter Application number or PAN numberYour allotment status will be displayed, showing the number of shares allotted.Checking allotment on BSE (Exchange website)Go to the BSE IPO allotment page(https://www.bseindia.com/investors/appli_check.aspx)Select Equity under issue type.From the dropdown, choose BMW Ventures IPOEnter your application number and PAN.Click Search.With the issue subscribed to just 1x, the allotment chances are high. Investors who miss out will get refunds/unblocked funds before listing.BMW Ventures IPO GMPBMW Ventures IPO has a grey market premium (GMP) of Rs 2 as of September 27. With the price band fixed at Rs 99, the estimated listing price is Rs 101, indicating an expected gain of 2.02% per share.BMW Ventures Subscription DetailsAs per BSE data, QIBs led the bidding process, subscribing 3.09 times and bidding for 7.23 lakh shares as against 2.34 lakh shares reserved for them.Non-institutional investors or HNIs were next in line, bidding 3.03 times the portion reserved for them. The retail investor portion was almost fully at about 0.99x or 99%, data showed.Company OverviewBMW Ventures Limited operates across multiple business lines, including trading and distribution of steel products, tractor engines, and spare parts, as well as manufacturing PVC pipes, roll-forming, and pre-engineered buildings. The company has a strong foothold in Bihar, distributing products through a network of 1,299 dealers across 29 districts.The company plans to deploy Rs 173.75 crore of the net proceeds toward working capital requirements and Rs 57.91 crore for general corporate purposes.Also read: Curefoods raises Rs 160 crore from Binny Bansal’s 3State Ventures in pre-IPO placementBMW Ventures’ product portfolio includes TMT bars, GI and HR sheets, wire rods, GP sheets, pipes, doors, and hollow sections. The company also operates six stockyards—one in Purnea and five in Patna—and has a workforce of 639 employees.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

In a major boost to tele-communication infrastructure, Prime Minister Narendra Modi on Saturday inaugurated BSNL's 'Swadeshi' 4G stack, marking India's entry into a coveted league of nations that manufacture telecom equipment.On the occasion of the Bharat Sanchar Nigam Limited's silver jubilee, the PM also commissioned more than 97,500 mobile 4G towers, including 92,600 4G technology sites of the telecom service provider.These towers have been built at a cost of around Rs 37,000 crore with 'swadeshi' (indigenous) technology.The launch of the 'Swadeshi' 4G stack marked India's entry into a league of nations such as Denmark, Sweden, South Korea, and China, which manufacture homegrown telecom equipment. The India-made network is cloud-based, future-ready and can upgrade seamlessly to 5G, an official said.The rollout of the 'swadeshi' 4G network is a transformative step in line with the Prime Minister's vision of a Digital India, bridging the digital divide and empowering rural communities, while paving the way for BSNL's 5G upgrade and integration, an official statement said.Over 26,700 unconnected villages, including 2,472 of Odisha, in remote, border and left-wing extremism-affected areas will receive connection with this launch.This will serve over 20 lakh new subscribers, the statement said.These towers are solar-powered, making them India's largest cluster of green telecom sites and a step forward in sustainable infrastructure.This apart, the Prime Minister also unveiled India's 100 per cent 4G saturation network through digital Bharat Nidhi, where 29,000 to 30,000 villages are connected in a mission-mode project.