VMS TMT IPO: Check Day 3 Subscription Status, GMP, Other Details

VMS TMT Ltd.'s initial public offering was subscribed 26.84 times so far on its third day of subscription on Friday led by non-institutional buyers. The IPO was fully subscribed just hours after opening for subscription on Wednesday.

The VMS TMT IPO is a book-building issue of Rs 148.5 crore. It comprises a fresh issue of 1.5 crore shares.

The price band for the IPO has been fixed at Rs 94 to Rs 99 per share. Arihant Capital Markets Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.

Incorporated in 2013, VMS TMT is involved in the business of manufacturing Thermo Mechanically Treated Bars (TMT Bars). It has a manufacturing facility in Ahmedabad, Gujarat, with the company also dealing in scrap and binding wires that are sold within Gujarat.

VMS TMT has planned to utilise proceeds from the IPO for debt settlement and general corporate purposes.

The company reported a 9.4% year-on-year (YoY) increase in profit after tax (PAT) at Rs 14.74 crore in FY25 from Rs 13.47 crore in FY24. 

However, its revenue from operations fell 11.77% YoY to Rs 770.2 crore in FY25 from Rs 872.96 crore in FY24. 

VMS TMT IPO was subscribed 26.84 times as of 10:23 a.m. on Friday.

• Qualified Institutions: 7.56 times.

• Non-Institutional Buyers: 50.66 times.

• Retail Investors: 21.93 times.

The grey market premium (GMP) for the VMS TMT IPO was Rs 17 per share on Sept. 19, as of 10:25 a.m. The latest GMP indicates an estimated listing price of Rs 116 apiece at a premium of 17.17% over the upper limit of the IPO price band.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.