The initial public offering of VMS TMT Ltd. was fully subscribed, just hours after opening for subscription on day one.
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 IPO Day One Subscription Status
IPO of VMS TMT was subscribed 3.44 times as of 12 a.m. on Wednesday.
Qualified Institutional Buyers: 6.84 times
Non-Institutional Investors: 4.06 times
Retail investors: 2.38 times
*Subscription status will be updated at regular intervals.
VMS TMT IPO GMP Today
The grey market premium (GMP) for the VMS TMT IPO was Rs 23 per share on September 17. The latest GMP indicates an estimated listing price of Rs 122 apiece at a premium of 23% 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.
VMS TMT: Use Of Proceeds & Financials
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.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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