VMS TMT IPO Day 2 LIVE: Issue subscribed 12.7x so far — GMP signals 22% listing pop. Time to apply?

VMS TMT IPO Day 2 LIVE: The initial public offering (IPO) of VMS TMT is witnessing healthy demand for its share sale. The public offer entered its second day of bidding today. The VMS TMT IPO was fully booked on the first day of bidding.

According to BSE data, VMS TMT IPO received bids for 10,33,32,600 shares as against 1,23,00,000 shares on offer, taking the overall IPO subscription to 8.40 times at the end of the first day.

VMS TMT, a manufacturer of Thermo Mechanically Treated (TMT) Bars, is looking to raise ₹148.50 crore through a fresh issue of 1.5 crore equity shares.

The IPO price band has been set at ₹94 to ₹99 per share. The lot size for the IPO is 150 shares. The minimum amount of investment required by a retail investor is ₹14,850 based on the upper price band of the issue.

VMS TMT IPO GMP, or grey market premium, was ₹22. At the prevailing GMP and upper end of the price band, VMS TMT IPO listing price could be ₹121, a premium of 22.22% over the issue price.

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VMS TMT IPO was subscribed over 13 times so far on the second day of the issue. Here's how different quotas were booked:

QIB: 7.21

NII: 22.09

Retail: 12.00

Overall: 13.74

VMS TMT said it has a diverse customer base of retail and institutional customers primarily based in the State of Gujarat. Here's a breakdown:

The company plans to use the funds raised from the IPO for:

1. Repayment/ prepayment, in full or part, of all or a portion of certain

borrowings availed

2. General corporate purposes

VMS TMT is a leading manufacturer of Thermo Mechanically Treated (TMT) Bars, operating from its state-of-the-art manufacturing facility located in Bhayla Village, Ahmedabad, Gujarat, India. Renowned for their high strength, superior ductility, and excellent corrosion resistance, our TMT Bars are widely used in the construction industry and trusted by a broad spectrum of customers for structural reinforcement.

It serves a diverse customer base comprising both retail and institutional clients, primarily across the State of Gujarat (excluding the Saurashtra and Kutch districts). Its products are distributed through a robust and growing non-exclusive distribution network that includes 3 distributors and 227 dealers as of July 31, 2025.

VMS TMT IPO was subscribed over 10 times so far on the second day of the issue. Here's how different quotas were booked:

QIB: 7.18

NII: 17.14

Retail: 8.53

Overall: 10.43

VMS TMT Limited garnered ₹26.73 crore from anchor investors ahead of its initial public offering. The company informed the bourses that it allocated 27,00,000 equity shares at ₹99 per share to anchor investors.

Institutions who participated in the anchor were Saint Capital Fund, Maybank Securities Pte, Astorne Capital VCC - Arven, Chanakya Opportunities Fund I, Vbcube Ventures Fund.

According to BSE data, VMS TMT IPO received bids for 10,33,32,600 shares as against 1,23,00,000 shares on offer, taking the overall IPO subscription to 8.40 times at the end of the first day.

The retail portion was booked 6.56 times, the non-institutional investor (NII) quota was subscribed 13.78 times and the qualified institutional buyer (QIB) segment garnered 7.09 times bids.

VMS TMT IPO GMP, or grey market premium, was ₹22. At the prevailing GMP and upper end of the price band, VMS TMT IPO listing price could be ₹121, a premium of 22.22% over the issue price.

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