VMS TMT IPO, which opened for bidding on Wednesday, September 17, sailed by means of inside minutes of opening. The problem ended the primary day of bidding with robust demand, as all classes have been totally booked.
Traders have until Friday, September 19, to use for the VMS TMT IPO.
VMS TMT IPO Subscription
In accordance with BSE information, VMS TMT IPO obtained bids for 10,33,32,600 shares as in opposition to 1,23,00,000 shares on provide, taking the general IPO subscription to eight.40 occasions on the finish of the primary day.
The retail portion was booked 6.56 occasions, the non-institutional investor (NII) quota was subscribed 13.78 occasions and the certified institutional purchaser (QIB) section garnered 7.09 occasions bids.
VMS TMT IPO GMP
VMS TMT IPO GMP, or gray market premium, was ₹22. On the prevailing GMP and higher finish of the worth band, VMS TMT IPO itemizing worth may very well be ₹121, a premium of twenty-two.22% over the difficulty worth.
GMP indicators an investor’s willingness to pay over and above the difficulty worth.
VMS TMT IPO Particulars
VMS TMT, a producer of Thermo Mechanically Handled (TMT) Bars, is seeking to increase ₹148.50 crore by means of a contemporary concern of 1.5 crore fairness shares.
The IPO worth band has been set at ₹94 to ₹99 per share. The lot dimension for the IPO is 150 shares. The minimal quantity of funding required by a retail investor is ₹14,850 primarily based on the higher worth band of the difficulty.
The corporate seems to make use of the funds raised for compensation, in full or half, of all or a portion of sure borrowings availed by the corporate and common company functions.
Integrated in 2013, VMS TMT is primarily engaged within the manufacturing of Thermo Mechanically Handled (TMT) Bars. Along with TMT bars, the corporate additionally trades in scrap and binding wires, that are distributed throughout Gujarat and different Indian states.
VMS TMT’s manufacturing facility is strategically positioned in Bhayla Village, close to Bavla within the Ahmedabad district of Gujarat, offering a logistical benefit for the environment friendly distribution of its merchandise.
Arihant Capital Markets is the book-running lead supervisor, and Kfin Applied sciences is the registrar of the difficulty. Shares of the corporate are proposed to checklist on BSE and NSE on September 23.
Disclaimer: This story is for instructional functions solely. The views and suggestions expressed are these of particular person analysts or broking corporations, not Mint. We advise buyers to seek the advice of with licensed specialists earlier than making any funding selections, as market situations can change quickly and circumstances might fluctuate.
