Particle.news
Download on the App Store
6 ARTICLES
·
yesterday

VMS TMT IPO Draws Heavy Day-One Bids, Subscribed 3.44 Times

Proceeds go toward debt reduction, with the Rs 148.5 crore offer open through Sept. 19, allotment on Sept. 22, then a tentative Sept. 24 listing.

Image
⁠VMS TMT IPO GMP

Overview

  • Qualified institutional buyers led demand at 6.84 times, with non-institutional investors at 4.06 times and retail at 2.38 times as of the latest day-one update.
  • The book-building issue comprises a fresh sale of 1.5 crore shares in a price band of Rs 94–99 per share.
  • Grey-market indications hovered near Rs 23 per share on Sept. 17, implying an estimated 20–23% listing premium, though such quotes are unregulated and speculative.
  • Arihant Capital Markets is the book-running lead manager and KFin Technologies is the registrar for the mainboard listing on the NSE and BSE.
  • VMS TMT manufactures TMT bars in Ahmedabad, with FY25 PAT up 9.4% to Rs 14.74 crore while revenue fell 11.8% to Rs 770.2 crore; the retail lot size is 150 shares (minimum Rs 14,850 at the upper band).