The initial public offering (IPO) of Ahmedabad-based steel manufacturer VMS TMT Ltd entered its second day on Thursday, and as of 10:05 am, the company’s IPO was subscribed 9.08 times.
- Retail investors’ share was 7.32 times
- Non-institutional investors’ (NII) share was 14.67 times
- Qualified institutional buyers’ (QIB) share was 7.10 times
The company has fixed the IPO price band at ₹94-₹99 per share. The issue will close on September 19, and listing is scheduled for September 24, 2025, on the BSE and NSE.
VMS TMT IPO GMP Today
According to reports, the unlisted shares of VMS TMT are trading at ₹121. This means the company’s grey market premium (GMP) is ₹22, which is 22.22% higher than the issue price. However, GMP is based solely on market sentiment and varies from time to time.
VMS TMT IPO Details
- Issue Size: ₹148.5 crore
- Fresh Issue: 1.5 crore equity shares
- OFS (Offer for Sale): None
- Minimum Bid: 150 shares and in multiples thereof
- Allotment Structure:
- Retail Investors: 50%
- QIBs (including anchor investors): 30%
- NIIs: 20%
- Lead Manager: Arihant Capital Markets
- Registrar: KFin Technologies
The company states that it will use ₹115 crore of the proceeds raised through this IPO to partially/fully repay its debts. The remaining proceeds will be used for general corporate purposes and issue-related expenses.
Company Financials
The company’s profit after tax was ₹134.68 million in FY24, which increased to ₹154.18 million in FY25. Analysts believe that the rapidly growing infrastructure and real estate sectors in India are driving demand for steel bars, which could significantly benefit VMS TMT.
