VMS TMT Ltd IPO Soars with Impressive Market Debut

VMS TMT Ltd, a TMT bars manufacturer, made a strong market debut, listing at a 6% premium. The IPO was immensely successful, with a 102.26 times subscription. Proceeds will be used for debt repayment and corporate purposes. VMS TMT Ltd is engaged in manufacturing and distributing TMT bars, scrap, and binding wires.

The shares of TMT bars manufacturer VMS TMT Ltd opened at a 6% premium over its issue price of Rs 99 on Wednesday's market debut.

The stock started trading at Rs 105 on the BSE and Rs 104.90 on the NSE, marking a substantial rise from the original listing price.

The company's IPO was immensely popular, with a 102.26 times subscription driven by investor interest. Proceeds from the IPO, priced between Rs 94 and Rs 99 per share, will be directed towards debt repayment and other corporate expenses.

(With inputs from agencies.)