Investors Bid Heavily as VMS TMT IPO Subscribed 102.26 Times
VMS TMT Ltd’s IPO closed with overwhelming demand, subscribed 102.26 times on its final day. Retail investors led with 116.25 times bids, while NIIs subscribed 188.88 times. The Rs 45.97 crore issue will list on NSE SME on September 25, with allotment expected by September 23.
The initial public offering (IPO) of VMS TMT Ltd witnessed an extraordinary response, closing with a subscription of 102.26 times on its final bidding day, September 20. The record demand highlights both the company’s growth potential and the buoyant sentiment in the primary market.
Subscription response
Exchange data shows that the IPO attracted bids for 52.55 crore equity shares against the 51.40 lakh shares available. Retail investors drove the momentum, subscribing their portion 116.25 times, while non-institutional investors showed even stronger appetite with a subscription of 188.88 times. Qualified institutional buyers also participated actively, and their quota was booked 53.74 times, underscoring broad-based interest across investor categories.
Price Band and fund utilization
The company had fixed the price band at Rs 85–Rs 89 per share, targeting a fundraise of Rs 45.97 crore at the upper end of the range. Funds mobilized through the issue will primarily be used to meet working capital requirements, with a portion earmarked for general corporate purposes and strengthening the company’s financial position.
Key dates ahead
The timeline for post-IPO formalities is already in place. The basis of allotment is expected to be finalized on September 23, followed by initiation of refunds on September 24. The equity shares of VMS TMT are scheduled to make their debut on the NSE SME platform on September 25, 2025.
Company background
Founded in 2013, VMS TMT Ltd manufactures TMT bars, billets, and allied steel products that cater largely to the construction and infrastructure industries. With government spending on housing and infrastructure continuing to expand, industry experts believe the company is well-positioned to capitalize on rising demand in the domestic steel sector.
Disclaimer: The views expressed in this article are purely informational, and Republic Media Network does not vouch for, promote or endorse any opinions stated by any third party. Stock market and Mutual Fund investments are subject to market risks, and readers are advised to seek expert advice before investing in stocks, derivatives and Mutual Funds
Published By : Avishek Banerjee
Published On: 22 September 2025 at 18:40 IST