VMS TMT IPO Allotment Status, GMP, and Listing Price Prediction
VMS TMT, a steel company based in Ahmedabad, launched its IPO in mid-September 2025. The issue size is ₹148.50 crore, with 1.50 crore fresh equity shares. Price band was set between ₹94–₹99 per share. Right after opening, investors showed strong interest. Within hours, the IPO got fully subscribed. GMP (grey market premium) also jumped high.
We will guide you through all key details: how the subscription went, when allotment is, what the GMP says, and what listing price we might expect.
Company Overview: VMS TMT
- Background: VMS TMT started in 2013. They make TMT bars (steel reinforcement bars).
- Financials (latest):
• Revenue (FY2025): about ₹771.41 crore.
• Profit after tax (PAT): ₹15.42 crore.
• Reserves & surplus growing steadily. - What they want: The IPO proceeds will go to repay some borrowings and for general corporate purposes.
VMS TMT IPO Details
- IPO opened on September 17, 2025, and closed on September 19, 2025.
- Price band: ₹94 to ₹99 per share.
- Total issue size: ₹148.50 crore via 1.50 crore fresh shares.
- Category reservation: Retail (RIIs), Non-Institutional Investors (NIIs), Qualified Institutional Buyers (QIBs), plus anchor investors took part.
- Listing is planned on both BSE and NSE on September 24, 2025.
VMS TMT IPO Subscription Status
- Day 1: The IPO was fully subscribed within hours. QIBs in particular subscribed about 6.83× their quota. Overall, the Day 1 subscription was strong.
- Day 2: Subscription continued rising, reaching around 12.5× overall. NIIs were very aggressive, subscribing ~20×.
- By the end of the issue: Total subscription across all categories crossed 102×. Retail segment about 47.88×, NIIs ~(~227×), QIBs ~120.80×.
VMS TMT IPO Allotment Status
- Allotment date is likely 22 September 2025.
- Listing date: 24 September 2025.
- Refunds to those not allotted are expected around 23 September 2025. Shares for successful applicants will be credited soon after.
- How to check allotment:
• Use the registrar’s website (KFin Technologies, IPO portal).
• Check BSE’s “Application Status Check” page.
• Check the NSE IPO bid/application status section.
Grey Market Premium (GMP) Analysis
- GMP tells us how much the shares are trading above the IPO price before the official listing. It gives an idea of expected gains.
- Latest GMP for VMS TMT: about ₹13 per share over the issue price of ₹99. That means ~13.13% premium.
- Earlier, the grey market had shown even higher premiums (≈23%) when the IPO opened.
- GMP has dropped from its peak but still stays positive. This indicates that investors remain confident.
Listing Price Prediction
- Given the issue price upper bound is ₹99, and GMP ~₹13 currently, a likely listing price could be around ₹110-₹112 if GMP holds.
- With subscription being so high (100×+), demand is clearly strong. That supports a moderate to high first-day gain.
- Risks: GMP can change in the final hours before listing. Also, market conditions or steel industry issues (raw material prices, regulatory risks) could dampen listing performance.
- Overall, a listing gain in the range of 12-25% seems possible, depending on how the grey market and demand remain till listing.
Broader Market Context
- India’s IPO market has been active. Many IPOs have opened recently. Investors are tuning in more to recent listings.
- The steel industry is under pressure from raw material costs, logistics, and global demand. But domestic construction and infrastructure push gives tailwinds. VMS TMT likely benefits from that.
- Recent IPOs with strong GMP have often listed with good gains. But some have also cooled down if expectations were too high.
Conclusion
We see that the VMS TMT IPO has had a spectacular subscription: over 102× overall. The allotment is set for 22 September 2025, and listing on 24 September 2025. Grey market is trading at ~₹13 premium, suggesting ~13% listing gain if things hold up.
If you applied, chances of getting some allocation are there, though in retail, allocation will be tight because demand was very high. If you are considering entry after listing, be mindful of industry risks and how GMP might change.
FAQS:
A good GMP shows strong demand before listing. If GMP is high and stable, it often means investors expect listing gains. Still, results can change quickly.
To check IPO registration status, visit the official registrar website. Enter your PAN or application number. The site shows whether your IPO application was accepted.
To check Indigene IPO allotment status, go to the registrar’s website, like KFin Tech or BSE. Enter PAN, DP ID, or application number. Results show allotted shares.
Disclaimer:
This content is for informational purposes only and is not financial advice. Always conduct your research.
