VMS TMT's IPO fully subscribed within hours
VMS TMT's IPO saw strong demand, getting fully subscribed within hours of opening on Wednesday.
Priced at ₹94-99 per share, the IPO was subscribed 1.8 times overall—with Qualified Institutional Buyers leading at 6.83 times, Non-Institutional Investors at 1.38 times, and retail investors subscribing to 84% of their quota.
VMS TMT makes Kamdhenu-branded TMT bars
VMS TMT makes Thermo Mechanically Treated (TMT) bars from its large plant near Ahmedabad.
The company sells under the Kamdhenu brand through a network of distributors and dealers across Gujarat (except Saurashtra and Kutch).
Financially, it's been on a roll—revenue jumped to ₹771 crore with a net profit of ₹14.7 crore in FY25 (up from just ₹4.2 crore in FY23), and margins have improved too.
GMP at 23%; IPO to close on Friday
The IPO closes this Friday, September 19, with shares expected to list on NSE and BSE by September 24. There's already a gray market premium of about 23%.
Most of the funds raised will go toward repaying loans and general business needs—giving VMS TMT more room to grow in the future.