VMS TMT IPO: Check allotment status, allotment odds, latest GMP & listing date

VMS TMT is likely to finalize the basis of allotment of its shares on Monday, September 22. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, September 23. The metal products player saw a strong response from the investors.

The IPO of Ahmedabad-based VMS TMT was open for bidding between September 17 and September 19. It had offered its shares in the price band of Rs 94-99 per share with a lot size of 150 shares. The company raised a total of Rs 148.50 crore via IPO, which was entirely a fresh share sale 1,50,00,000 equity shares.

The issue was overall subscribed a stellar 102.26 times fetching more than 21.37 akh applications, fetching bids for 12,450 crore for the issue net of anchor book. The allocation for the qualified institutional bidders (QIBs) was subscribed 120.8 times, while the portion for non-institutional investors' (NIIs) saw bids for 227.09 times. However, the retail investors' quota was booked at 47.88 times.
 

Based on the bidding, here are the odds of allotment for the IPO of VMS TMT:

• Big HNI category: 2 investors out of 99 investors will get 2,100 shares (Probability: 2.02 per cent)
• Small HNI category: 2 investors out of 375 investors will get 2,100 shares (Probability: 0.53 per cent)
• Retail category: 1 investors out of 40 investors will get 150 shares. (Probability: 2.5 per cent)
   

The grey market premium (GMP) of VMS TMT has seen a sharp correction, despite a strong bidding and positive market sentiments. Last heard, the company was commanding a premium of Rs 12-13 in the unofficial market, suggesting listing gains of 12-13 per cent for the investors. The GMP stood at Rs 22-23 on the last day of the bidding.

Incorporation in 2013, Ahmedabad-based VMS TMT is primarily engaged in the manufacturing of Thermo Mechanically Treated Bars (TMT Bars). It also deals in scrap and binding wires, which are sold within Gujarat and other states. Its manufacturing facility is strategically located in Bhayla Village, near Bavla in Ahmedabad district, Gujarat, allowing easy distribution of products.

Arihant Capital Markets is the sole book running lead manager for IPO of VMS TMT and Kfin Technologies is the registrar of the issue. Initiation of refunds and credit of shares will be done on Tuesday, September 23. Shares of the company shall be listed on both BSE and NSE on Wednesday, September 24.

Investors, who had bid for the issue of VMS TMT, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select VMS TMT Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.