VMS TMT is a producer of Thermo Mechanically Treated (TMT) bars, which have extensive applications in the construction sector. The company also deals in scrap and binding wires. It has its production unit at Bhayla Village near Bavla, Ahmedabad district, Gujarat.
the Grey Market Potential (GMP) of VMS TMT Ltd was ₹23 as of September 16, 09:10 a.m. The listing price is estimated to be ₹122 on the basis of the higher price band of ₹99. The percentage gain per share estimated is 23.23%.
VMS TMT IPO Day 1 Subscription Status
[17th September 2025, 11:24 A.M]
The VMS TMT IPO was subscribed 2.80 times on Day 1, according to the NSE data. The public issue was subscribed to 1.81 times by Retail Individual Investors(RIIs), 2.86 times by Non Institutional Investors (NIIs), and 6.83 times by Qualified Institutional Buyers (QIBs).
VMS TMT IPO Day 2 Subscription Status
[18th September 2025, 6:00 P.M]
- Qualified Institutional Buyers (QIBs) showed moderate demand, with their portion of the IPO subscribed 7.47 times.
- Non-Institutional Investors, including corporate and high-net-worth individuals, led the charge with a remarkable oversubscription of 37.25 times.
- Retail Individual Investors (RIIs) also showed strong participation, with their segment subscribed 18.98 times.
Key Facts & Figures
| Particulars | Details |
|---|---|
| IPO Name | VMS TMT Ltd IPO |
| Company Business | Manufacturer of TMT bars, also trades in scrap & binding wires |
| IPO Type | Book Built Issue |
| IPO Size | ₹148.50 crore (Fresh Issue of 1.50 crore equity shares) |
| Price Band | ₹94 – ₹99 per share |
| Face Value | ₹10 per share |
| Lot Size | 150 shares per lot |
| Minimum Investment (Retail) | ₹14,850 (at upper price band) |
| Book Running Lead Manager | Arihant Capital Markets Ltd |
| Registrar | Kfin Technologies Ltd |
| Listing Exchange | BSE & NSE |
| Grey Market Premium (GMP) | ~₹23–₹24 (as of 17 Sept 2025) |
| Use of Proceeds | Repayment/prepayment of debt, general corporate purposes |
Timeline & Important Dates
| Event | Date |
|---|---|
| IPO Opening Date | 17 September 2025 |
| IPO Closing Date | 19 September 2025 |
| Basis of Allotment Finalization | 22 September 2025 |
| Refunds Initiation | 23 September 2025 |
| Shares Credited to Demat A/c | 23 September 2025 |
| IPO Listing Date | 24 September 2025 |
Financial Highlights (₹ in Crore)
| Financial Year | Revenue | Net Profit | ROCE | RoNW |
|---|---|---|---|---|
| FY 2023-24 | 872.96 | 13.47 | 11.95% | 19.12% |
| FY 2024-25 | 770.19 | 14.74 | 12.79% | 20.14% |
Investor Guide: Short-Term vs Long-Term
If you are a long-term investor who is happy to ride the infrastructure / metals theme and are okay with a bit of risk, this IPO does seem fairly decent. The listing gains will be decent, but it will all depend on how smartly the company can execute expansion, keep costs under control, and utilize its network.
For short term profits, grey market premium is attractive, but note that such premiums can turn wildly volatile. If you apply, it might be better to target issue price (or near upper band) and to exit once listed if it surges, instead of holding without a plan.
Conclusion
VMS TMT Ltd’s IPO presents a compelling opportunity, especially given strong early interest, favorable pricing, and clear use of proceeds aimed at improving financial health. While not without risks — revenue decline, debt load, and sector volatility among them — the potential listing gains make it worth your consideration.
Tips Before Applying
-
Check allotment chances: Retail portion and QIB interest will affect how many shares you might actually get.
-
Understand your risk tolerance: Cyclical sector, regional concentration.
-
Track peer comparisons: How do metrics like P/E, RoNW compare with other TMT/steel bar makers?
-
Watch external factors: Steel raw material costs, government infrastructure policy, real estate demand.
Disclaimer:
- IPO Grey Market Premium (Dev Accelerator IPO GMP) mention is valid for the specific date as mentioned in the header.
- We are not buying and selling IPO forms on IPO Grey Market.
- Do not subscribe for IPO by just seeing the premium Price as it may change anytime before listing. Subscribe only considering the fundamentals of the companies.