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  5. VMS TMT IPO subscribed 2.31 times so far on day 1: Check price band, lot size, allotment and listing dates

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VMS TMT IPO subscribed 2.31 times so far on day 1: Check price band, lot size, allotment and listing dates

Kamal Joshi
By Kamal Joshi

3 min read | Updated on September 17, 2025, 11:03 IST

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SUMMARY

VMS TMT IPO will solely be raising funds via the fresh issuance of 1,50,00,000 shares worth ₹148.50 crore. The price band has been fixed at ₹94 to ₹99 per share. A lot consists of 150 shares.

VMS TMT makes TMT bars at its production facility located at Ahmedabad, Gujarat. | Image: vmstmt.com

VMS TMT makes TMT bars at its production facility located at Ahmedabad, Gujarat. | Image: vmstmt.com

VMS TMT IPO: TMT bars maker VMS TMT's ₹148.50 crore initial public offering opened for subscription on Wednesday, September 17. The public issue will close on September 19.

The company will solely be raising funds via the fresh issuance of 1,50,00,000 shares worth ₹148.50 crore. The price band has been fixed at ₹94 to ₹99 per share. A lot consists of 150 shares.

Of the net proceeds, funds to the tune of ₹115 crore will be utilised for repayment of borrowings availed by the company. A part will also be used for general corporate purposes.

VMS TMT IPO day 1: Subscription status

The offer has been booked 2.31 times until 11 am on September 17, with bids for 2,84,70,600 shares compared to 1,23,00,000 shares on offer, as per NSE data.

CategorySubscription Status
Qualified Institutional Buyers (QIBs)6.83 times
Non-Institutional Investors2.09 times
Retail Investors1.32 times
Total2.31 times

Prior to the IPO, the company raised ₹26.73 crore from anchor investors, including Saint Capital Fund, Astrone Capital, Maybank Securities Pte, Vbcube Ventures Fund and Chanakya Opportunities Fund.

VMS TMT IPO timeline: Allotment and listing dates

VMS TMT IPO's basis of allotment is expected to be finalised on September 22. Initiation of refunds for investors who didn't receive allotment will be processed on September 23, while equity shares will be credited to the Demat account of successful investors on the same day.

The stock listing on the NSE and the BSE will occur on September 24.

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The book-running lead manager of the IPO is Arihant Capital Markets Ltd, while KFin Technologies Ltd is the registrar.

About

VMS TMT makes thermomechanically treated bars, or TMT bars, at its production unit situated at Ahmedabad, Gujarat.

The company derived 98.93%, 96.72%, 98.75% and 97.42% of its revenues from Gujarat in the three-month period ended June 2025 and FY25, FY24 and FY23, respectively.

VMS TMT IPO GMP

According to investorgain.com and media reports, VMS TMT's unlisted shares are trading at ₹122 per share, reflecting a grey market premium, or GMP, of 23.23% over the upper price band of ₹99.
Disclaimer: Grey Market Premium, or GMP, is an unofficial indicator of market sentiment toward an IPO. It is not regulated by the stock exchanges or SEBI. Upstox neither supports nor encourages grey market trading. Investors are advised to conduct their own research or consult an expert before making any investment decisions.
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About The Author

Kamal Joshi
Kamal Joshi is a business journalist who covers industries, markets, and IPOs. He is passionate about breaking news and enjoys playing tennis, especially flexing his backhand. He was previously associated with Republic TV and LatestLY.