VMS TMT IPO GMP Today & Day 2 Subscription Status: 9.08x Bids Signal Strong Listing; Check Key Details

The initial public offering (IPO) of VMS TMT Ltd has garnered robust investor interest on its second day of bidding, with total subscription reaching 9.08 times the available shares. The issue has attracted bids for 11,16,81,750 equity shares against the 1,23,00,000 shares on offer, signalling strong market confidence in the Gujarat-based TMT bar manufacturer.

VMS TMT IPO GMP Day 2 Latest Status

Retail investors subscribed at 7.32 times their allotted quota, while non-institutional investors (NIIs) showed even greater enthusiasm with a subscription rate of 14.67 times. Qualified institutional buyers (QIBs) have subscribed at 7.10 times, reflecting broad-based interest across investor categories.

As of 1:53 PM on September 18, 2025, the grey market premium (GMP) for the VMS TMT IPO stood at Rs 21 as per Investorgain. Given the IPO's upper price band of Rs 99 per share, the estimated listing price is expected to be around Rs 120. This implies a potential gain of approximately 21.21% per share over the issue price, based on current market sentiment.

VMS TMT IPO: Fresh Issue to Raise Rs 148.5 Crore

The IPO is a 100% fresh issue of 1.5 crore equity shares, with no offer-for-sale (OFS) component. The price band is set at Rs 94-Rs 99 per share, aiming to raise approximately Rs 148.5 crore at the upper end.

According to the prospectus, Rs 115 crore from the proceeds will be used to repay or prepay existing borrowings, while the remaining funds will be directed toward general corporate purposes and issue-related expenses.

Investors can apply for a minimum lot of 150 shares and in multiples thereof. The allocation structure reserves 50% for retail investors, 30% for QIBs (including anchor investors), and 20% for NIIs.

The IPO is being managed by Arihant Capital Markets, while KFin Technologies serves as the registrar. Shares are expected to be listed on both BSE and NSE on September 24, 2025.

Know About VMS TMT Ltd

VMS TMT Ltd is a prominent manufacturer of Thermo Mechanically Treated (TMT) bars, primarily operating in Gujarat. Its production facility in Bhayla Village houses a 30-ton induction furnace, continuous casting machine, and rolling mill, with an annual installed capacity of 200,000 metric tonnes.

In addition to TMT bars, the company sells binding wire, billets, and scrap, serving the construction and infrastructure sectors, which are seeing accelerated growth across India.

The company holds a retail license agreement with Kamdhenu Limited, allowing it to market TMT bars under the Kamdhenu brand in Gujarat, excluding the Saurashtra and Kutch regions. Its distribution network includes three distributors and over 200 dealers.

VMS TMT Ltd Financial Snapshot

In FY25, VMS TMT reported a profit after tax of Rs 154.18 million, up from Rs 134.68 million in FY24. The rising demand for steel-driven by infrastructure development and housing projects-positions the company to benefit from favorable sectoral tailwinds.