VMS TMT Limited Secures Rs 27 Crores from Anchor Investors Ahead of IPO

VMS TMT Limited, a Gujarat-based manufacturer of TMT bars marketed under the Kamdhenu brand, has successfully raised Rs 26.73 crores from anchor investors ahead of its initial public offering scheduled to commence on September 17, 2025.

The company allocated 27,00,000 equity shares at Rs 99 per share to five institutional investors. Saint Capital Fund emerged as the largest anchor investor, securing 6,06,150 shares representing 22.45% of the anchor portion for Rs 6.00 crores. Maybank Securities Pte, Astorne Capital VCC - Arven, and Vbcube Ventures Fund each invested Rs 5.00 crores for 5,05,200 shares (18.71% each), while Chanakya Opportunities Fund I allocated Rs 5.72 crores for 5,78,250 shares (21.42%).

The three-day IPO will open on Wednesday, September 17, and close on Friday, September 19, 2025. The price band has been set at Rs 94-99 per equity share, with the offering expected to raise Rs 148.50 crores at the upper price band.

The public issue comprises entirely fresh equity shares totaling 1.50 crore shares with no offer-for-sale component. VMS TMT plans to utilize Rs 115 crores from the IPO proceeds for debt repayment and prepayment, while remaining funds will support general corporate purposes and issue expenses.

Arihant Capital Markets Limited serves as the sole book-running lead manager, with Kfin Technologies Limited acting as the issue registrar. The minimum bid requirement is set at 150 equity shares, with subsequent bids in multiples of 150 shares.

Following standard IPO allocation norms, up to 30% of shares will be reserved for qualified institutional buyers, at least 20% for non-institutional investors, and a minimum 50% for retail individual bidders through the book-building process.

The anchor investment demonstrates institutional confidence in the TMT bar manufacturer ahead of its market debut in the competitive steel construction materials sector.