VMS TMT Surges on Closing Day with Over 102x IPO Subscription
VMS TMT Ltd's IPO was oversubscribed 102.26 times on its closing day, fueled by strong investor interest. The offering received significant subscription from various investor categories. Proceeds will address debt and corporate needs. The company's shares will list on BSE and NSE.
- Country:
- India
The initial public offering of TMT bars manufacturer VMS TMT Ltd has achieved an overwhelming 102.26 times subscription on its closing day, demonstrating robust interest from investors.
Data from the NSE indicates that bids reached 1,25,78,39,250 for just 1,23,00,000 shares available, with non-institutional investors leading the way at 227.09 times subscription, followed by institutional buyers at 120.80 times, and retail investors at 47.88 times.
The IPO, fully comprising fresh equity shares, began with strong momentum, amassing over eight times subscription on its first day. The funds acquired, particularly Rs 115 crore from the fresh issue, are earmarked for debt repayment and other corporate needs. VMS TMT Ltd, founded in 2013, focuses on producing thermo-mechanically treated bars and also deals in scrap and binding wires.
(With inputs from agencies.)
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- VMS TMT
- IPO
- subscription
- share sale
- finance
- TMT bars
- investment
- bse
- nse
- investors
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