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VMS TMT re -filed documents for IPOs to reduce debt

News Update April 01, 2025 11:24 AM

VMS TMT re -filed documents for IPOs to reduce debt

VMS TMT IPO News: Thermo mechanically tried steel bar manufacturer VMS TMT has re -filed its draft Red Herring Prospectus (DRHP) to SEBI to raise funds with the objective of reducing debt. The TMT bar is high -power reinforcement steel that is widely used in the manufacturing industry. Whereas according to the draft papers filed on March 27, 2025, the IPO will include a completely new issue of 1.5 crore equity shares. Earlier, the company filed draft papers on 27 September 2024 for this IPO size. But later on 23 October, he withdrew the draft document.

The Gujarat -based company has planned to use Rs 115 crore from the net income received from IPOs to repay the loan. The remaining amount has been set by the company for use for general corporate purposes.

It is noteworthy that by December 2024, the total debt of VMS TMT company was Rs 160.2 crore. Promoters hold 96.28 percent in VMS TMT. The remaining 3.72 percent shares are with public shareholders. It also includes Chanakya opportunity fund. And Kamadhenu (Chanakya opportunity funds I and Kamadhenu).

The company has a retail license agreement with Kamdhenu Limited. If it is allowed to sell TMT bar under the Kamdhenu brand on a non-specific basis in Gujarat on a non-specific basis.

Arihant Capital Markets is the only book running lead manager appointed to handle the public offer (IPO).

The post VMS TMT re -filed documents for IPO to reduce the loan first appeared on News India Live | Breaking India News, The Indian Headline, India Express News, Fast India News.