VMS TMT IPO GMP: Steel Products Manufacturer’s Public Issue Booked 27 Times - Know Key Details

VMS TMT IPO GMP: VMS TMT Ltd’s public issue is seeing strong investor interest on the final day of subscription. Notably, the steel products manufacturer’s public issue is scheduled to close on September 19.

The grey market premium (GMP) for VMS TMT’s share has also remained steady throughout the subscription period. Here’s a look at some key details of the VMS TMT IPO:

VMS TMT IPO GMP

VMS TMT IPO grey market premium (GMP) is ranging between Rs 17 and Rs 24 per share according to various websites which monitor the movement of unlisted shares. Given the GMP of Rs 24, VMS TMT shares are likely to make a strong debut with a premium of 25 per cent at Rs 124 per share.

VMS TMT IPO: Subscription On Day 3

On the final day of subscription, the VMS TMT IPO has been oversubscribed more than 52 times in the non-institutional investor (NII) category. At the time of writing, NIIs placed bids for 157.2 million shares of VMS TMT Ltd compared to the 3 million shares set aside for the category. Retail individual investors placed bids for 169.1 million shares compared to the 7.5 million shares set aside for the category.

VMS TMT IPO has been subscribed 22.56 times in the retail category. Qualified institutional buyers applied for 13.6 million shares compared to the 1.8 million shares offered for subscription. QIBs have booked the issue 7.57 times so far. Cumulatively, the VMS TMT IPO has been subscribed 27.64 times, receiving bids for 304 million shares compared to the 12.3 million shares set aside for the category.

VMS TMT IPO: Offer Size and Price Band

The VMS TMT IPO issue size is Rs 148.5 crore. It consists of a fresh issuance of 15 million shares. The price band has been set at Rs 94 to Rs 99 per share. RIIs can place bids for a minimum of 150 shares, which aggregates to an investment of Rs 14,850.

VMS TMT IPO: Subscription window, listing date, allotment date

VMS TMT IPO opened for subscription on September 17. the VMS TMT IPO bidding window is scheduled to close on September 19. The share allotment status of VMS TMT IPO will be announced on September 22. Subsequently the steel products manufacturer will issue refunds for unsuccessful applicants on September 23.  VMS TMT Ltd shares are scheduled to list on the bourses on September 24.

VMS TMT: Financials

In FY 2024-25, VMS TMT’s total income stood at Rs 771.41 crore, decreasing by over 11 per cent compared to Rs 873.17 crore in FY 2023-24. Despite the reduction in top-line, the steel products manufacturer posted bottom-line growth as its profit-after-tax for FY25 grew by over 14 per cent to Rs 15.42 crore compared to Rs 13.47 crore in the preceding fiscal. VMS TMT’s net worth for FY25 increased by over 57 per cent to Rs 73.19 crore compared to Rs 46.51 crore in FY24.

VMS TMT IPO: Registrar

VMS TMT IPO’s book running lead manager is Arihant Capital Markets Ltd and the registrar for the issue is Kfin Technologies Ltd.

VMS TMT: Promoters

VMS TMT’s promoters include Varun Manojkumar Jain, Rishabh Sunil Singhi, Manojkumar Jain, and Sangeeta Jain are the company promoters. The shareholding of promoters will reduce from 96.28 per cent prior to the issue to 67.19 per cent post the issue.

VMS TMT IPO: Objective

VMS TMT Ltd plans to use the money raised via the public issue for repayment of its borrowings and for general corporate purposes.

About VMS TMT Ltd

VMS TMT Ltd is a manufacturer of thermo mechanically treated bars (TMT). The company also deals in scrap and binding wires. VMS TMT’s manufacturing facilities are located in Ahmedabad, Gujarat.