Thu Sep 18 04:10:00 UTC 2025: ## VMS TMT IPO Oversubscribed on Day 1, Drawing Strong Investor Interest

**New Delhi, September 17 (PTI)** – The initial public offering (IPO) of VMS TMT, a leading TMT bars manufacturer, witnessed robust investor demand on its opening day, being oversubscribed more than eight times on Wednesday.

The IPO, aiming to raise ₹148.50 crore, received bids for a staggering 10,32,66,000 shares against the 1,23,00,000 shares on offer, resulting in an overall subscription of 8.40 times, according to data from the National Stock Exchange (NSE).

Non-institutional investors showed particularly strong interest, with their portion being subscribed 13.78 times. Retail individual investors subscribed 6.56 times, while Qualified Institutional Buyers (QIBs) subscribed 7.09 times.

Prior to the IPO launch, VMS TMT raised nearly ₹27 crore from anchor investors on Tuesday. The IPO, which is entirely a fresh issue of 1.50 crore equity shares, is priced in the range of ₹94-99 per share and will remain open for subscription until September 19.

The company plans to utilize ₹115 crore from the proceeds for debt repayment, with the remaining funds allocated for general corporate purposes and issue expenses.

Incorporated in 2013, VMS TMT is a Gujarat-based manufacturer of thermo-mechanically treated (TMT) bars, along with dealing in scrap and binding wires. The company boasts backward integration with an in-house billet production capacity of 2.16 lakh metric tonnes per annum and is in the process of establishing a 15-megawatt solar power plant for captive consumption.

Financially, VMS TMT reported a revenue of ₹770.19 crore and a profit after tax of ₹14.74 crore in FY25.

The shares of VMS TMT will be listed on both the BSE (Bombay Stock Exchange) and NSE. Arihant Capital Markets is serving as the sole book running lead manager, while Kfin Technologies is the registrar for the IPO.

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