New Delhi, September 24 (Udaipur Kiran News): VMS TMT, a manufacturer of TMT bars, made a strong entry in the stock market today, delighting its IPO investors with a premium listing. However, selling pressure soon after the debut weighed on the stock.
The company’s shares, issued at ₹99 in the IPO, listed at ₹105 on the BSE and ₹104.90 on the NSE — around 6% higher than the issue price. But profit booking quickly dragged prices down. By 11 am, the stock was trading at ₹102.50.
The ₹148.50 crore IPO, open from September 17 to 19, saw heavy investor demand and was subscribed 102.24 times overall. The QIB quota was subscribed 120.80 times, the NII portion 227.08 times, and the retail quota 47.85 times. The IPO comprised 1.50 crore fresh equity shares with a face value of ₹10 each. Proceeds will be used to reduce debt, meet working capital requirements, and fund general corporate purposes.
According to the company’s prospectus, profits have grown steadily, though revenue has declined. Net profit rose from ₹4.20 crore in FY 2022–23 to ₹13.47 crore in FY 2023–24, and further to ₹15.42 crore in FY 2024–25. Revenue, however, slipped from ₹882.06 crore in FY 2022–23 to ₹873.17 crore in FY 2023–24, and further down to ₹771.41 crore in FY 2024–25.
In Q1 of FY 2025–26 (April–June), the company posted a net profit of ₹8.58 crore on revenue of ₹213.39 crore.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
