New Delhi, Oct 1 (PTI) Shares of BMW Ventures Ltd, a company engaged in marketing and distribution of steel products, on Wednesday ended over 25 per cent lower against the issue price of Rs 99.

The stock made its market debut at Rs 80, a discount of 19.19 per cent from the issue price on the BSE. Shares of the firm finally ended at Rs 76, hitting its lower circuit limit and registering a sharp fall of 23.23 per cent.

On the NSE, the stock listed at Rs 78, a decline of 21.21 per cent. It later ended at Rs 74.10, a drop of 25.15 per cent.

The company commanded a market valuation of Rs 659 crore.

The Rs 231.66-crore initial share sale of BMW Ventures Ltd was subscribed 1.50 times on the last day of offering on Friday.

The company’s IPO of up to 2.34 crore equity shares had a price range

See Full Page