VMS TMT IPO subscribed 2.24 times within first hour; check latest GMP & details
VMS TMT: The IPO, which will close on Friday, September 19, is priced between Rs 94 and Rs 99 per share. Investors can apply for a minimum of 150 equity shares and in multiples thereafter.
- Sep 17, 2025,
- Updated Sep 17, 2025 11:04 AM IST
VMS TMT Ltd's initial public offering (IPO) opened for subscription on Wednesday (September 17) and saw robust demand in early trade. Within the first hour, the issue was subscribed 2.24 times.
The IPO, which will close on Friday, September 19, is priced between Rs 94 and Rs 99 per share. Investors can apply for a minimum of 150 equity shares and in multiples thereafter.
As per BSE data till 10:54 am, bids were received for 2,75,43,150 shares against the issue size of 1,23,00,000 shares. The qualified institutional buyer (QIB) quota was subscribed 6.83 times, the non-institutional investor (NII) segment 1.96 times, while the retail portion was subscribed 1.25 times.
Through the IPO, VMS TMT aims to raise Rs 148.50 crore, entirely via a fresh issue of 1,50,00,000 equity shares. The proceeds will be utilised for repayment or prepayment of debt and general corporate purposes.
Incorporated in 2013, the Ahmedabad-based company is engaged in manufacturing Thermo Mechanically Treated Bars (TMT Bars) and also trades in scrap and binding wires across Gujarat and other states. Its manufacturing facility is located at Bhayla Village, near Bavla in Ahmedabad district, ensuring efficient distribution.
Ahead of the IPO, VMS TMT raised Rs 26.73 crore from five anchor investors by allotting 27 lakh shares at Rs 99 each. The anchor list featured Saint Capital Fund, Maybank Securities, Astrone Capital, Chanakya Opportunities Fund and Vbcube Ventures Fund.
For the quarter ended June 30, 2025, the company reported a net profit of Rs 8.58 crore on revenue of Rs 213.39 crore. In FY25, it recorded a net profit of Rs 15.42 crore on revenue of Rs 771.41 crore. At the IPO price, its market capitalisation (m-cap) is estimated at Rs 491.35 crore.
Grey market premium (GMP): In the unlisted market, the IPO was last seen commanding a GMP of Rs 23. Based on the upper price band of Rs 99, this indicates an expected listing gain of around 23.23 per cent.
Arihant Capital Markets is the sole book-running lead manager, while Kfin Technologies is the registrar. The company's shares are scheduled to list on both NSE and BSE, with a tentative listing date of September 23.
VMS TMT Ltd's initial public offering (IPO) opened for subscription on Wednesday (September 17) and saw robust demand in early trade. Within the first hour, the issue was subscribed 2.24 times.
The IPO, which will close on Friday, September 19, is priced between Rs 94 and Rs 99 per share. Investors can apply for a minimum of 150 equity shares and in multiples thereafter.
As per BSE data till 10:54 am, bids were received for 2,75,43,150 shares against the issue size of 1,23,00,000 shares. The qualified institutional buyer (QIB) quota was subscribed 6.83 times, the non-institutional investor (NII) segment 1.96 times, while the retail portion was subscribed 1.25 times.
Through the IPO, VMS TMT aims to raise Rs 148.50 crore, entirely via a fresh issue of 1,50,00,000 equity shares. The proceeds will be utilised for repayment or prepayment of debt and general corporate purposes.
Incorporated in 2013, the Ahmedabad-based company is engaged in manufacturing Thermo Mechanically Treated Bars (TMT Bars) and also trades in scrap and binding wires across Gujarat and other states. Its manufacturing facility is located at Bhayla Village, near Bavla in Ahmedabad district, ensuring efficient distribution.
Ahead of the IPO, VMS TMT raised Rs 26.73 crore from five anchor investors by allotting 27 lakh shares at Rs 99 each. The anchor list featured Saint Capital Fund, Maybank Securities, Astrone Capital, Chanakya Opportunities Fund and Vbcube Ventures Fund.
For the quarter ended June 30, 2025, the company reported a net profit of Rs 8.58 crore on revenue of Rs 213.39 crore. In FY25, it recorded a net profit of Rs 15.42 crore on revenue of Rs 771.41 crore. At the IPO price, its market capitalisation (m-cap) is estimated at Rs 491.35 crore.
Grey market premium (GMP): In the unlisted market, the IPO was last seen commanding a GMP of Rs 23. Based on the upper price band of Rs 99, this indicates an expected listing gain of around 23.23 per cent.
Arihant Capital Markets is the sole book-running lead manager, while Kfin Technologies is the registrar. The company's shares are scheduled to list on both NSE and BSE, with a tentative listing date of September 23.