New Delhi, Sept. 22 -- Bihar-based BMW Ventures is all set to launch its initial public offering (IPO) on September 24. The mainboard issue will remain open for subscription till September 26.

The company has announced the price band of Rs.94 to Rs.99 for its upcoming IPO, with a face value of Rs.10 per share.

The Bihar-based firm's IPO will consist solely of a fresh issue of 2.34 crore equity shares, with no offer-for-sale portion. Of the proceeds, up to Rs.174 crore will be allocated toward debt repayment, while the balance will be utilized for general corporate purposes.

The application lot size is set at 151 shares, requiring a minimum retail investment of Rs.14,949, calculated at the upper price band.

The share allotment for the ...