VMS TMT IPO Attracts Massive Bidding on Final Day; Issue Sees Overwhelming Response

Ahmedabad, Sep 19, 2025: VMS TMT Limited’s IPO attracted strong investor interest, closing at 85.20 times subscription on the final day of bidding. Demand was particularly high among non-institutional investors, who subscribed 204.43 times their allocated quota, while retail investors subscribed 42.16 times their quota. This robust response highlights the strong market appetite for the company’s offering across institutional and retail segments.

VMS TMT Limited, established in 2013, operates a manufacturing plant in Bhayla Village, Ahmedabad, specialising in Thermo Mechanical Treated (TMT) bars. The company boasts a robust distribution network with three distributors and 227 dealers, primarily covering Gujarat, excluding Saurashtra and Kutch. Its flagship TMT bars are sold under the brand name Kamdhenu, while additional revenue streams include billets, binding wires, scrap, and other by-products. Arihant Capital Markets Limited served as the Book Running Lead Manager, with KFin Technologies Limited acting as the Registrar.

Price Band Demand Highlights

The IPO saw strong buying momentum, with most bids clustered at the upper end of the price band at ₹99. The cut-off price was also in high demand, reflecting investor optimism about the company’s prospects. Overall, the issue received over 34.89 crore bids against 1.23 crore shares on offer, highlighting a significant oversubscription.

Anchor Investor Participation

Before the commencement of the public offering phase, VMS TMT had recently notified exchanges that it had raised ₹26.73 crores of anchor investors on 16 September 2025 by allotment of 27 Lakhs shares, for ₹99 per share. Some of the key participants in the deal were Saint Capital Fund, Maybank Securities PTE, Astorne Capital VCC -Arven, Chanakya Opportunities Fund I, and Vcube Ventures Fund. The involvement of these institutions is typically viewed as a positive indicator of the general market mood ahead of the launch.

The 85.20x subscription is overwhelming, and the anchor support is very strong, which means a promising start for VMS TMT. At the topmost price band where the demand is very high, the stock will be listed at a considerable premium, indicating that the investors have confidence in its growth.

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