VMS TMT share price: Stock lists at 6% premium on NSE; here's how much investors made per lot

On the BSE, the stock started trading at ₹105 per unit, up 6.06% from the issue price.

VMS TMT share price: Here's how much investors made per lot

The issue, which had set a price band of ₹94-₹99 per share, was exclusively a fresh issuance of shares aggregating to ₹148.50 crore without an offer for sale (OFS) component.

The funds will be utilised for general corporate purposes and repayment of certain borrowings.

"In addition, our company expects to receive the benefits of listing of its equity shares on the stock exchanges, including enhancing our company’s visibility and brand image among our existing and potential customers and creating a public market for our company’s equity shares in India," the company said in its red herring prospectus (RHP).

The IPO got bids for 1,25,78,71,200 shares, which translates to 102.27 times subscription over the 1,23,00,000 shares on offer, as per the NSE data.

The Qualified Institutional Buyers’ (QIBs) portion got subscribed 120.80 times, and the category for Non-Institutional Investors received 227.09 times subscription. The Retail Individual Investors’ category was booked 47.89 times.

Incorporated in 2013, VMS TMT Limited is primarily engaged in the production of thermo-mechanically treated bars (TMT Bars). It also deals in scrap and binding wires, which are sold within Gujarat and other states.

Before the IPO, VMS TMT collected ₹26.73 crore from anchor investors, including Saint Capital Fund, Astrone Capital, Chanakya Opportunities Fund, Maybank Securities Pte and Vbcube Ventures Fund.

Arihant Capital Markets was the issue's book-running lead manager.