VMS TMT IPO makes positive debut; shares list at 6% premium on bourses

VMS TMT shares listed at ₹105 per share on the BSE, reflecting a premium of ₹6 per share or 6 per cent over the issue price of ₹99 per share

VMS TMT  IPO listing, VMS TMT share price: Shares of thermo-mechanically treated (TMT) bars manufacturer VMS TMT made a positive D-Street debut on Wednesday, September 24, 2025, following the completion of its initial public offering. The company’s shares listed at ₹105 per share on the BSE, reflecting a premium of ₹6 per share or 6.06 per cent over the issue price of ₹99 per share.

 

On the National Stock Exchange (NSE), VMS TMT shares began trading at ₹105 per share, a premium of ₹5.90 per share or 5.96 per cent over the issue price.

 

VMS TMT's listing, however, came below the grey market estimates. Ahead of their D-Street debut, the unlisted shares of the company were exchanging hands at around ₹111 per share in the unofficial market, reflecting a grey market premium (GMP) of ₹12 per share, or approximately 12.12 per cent over the issue price, according to the sources tracking unofficial market activities. 

VMS TMT IPO details

VMS TMT raised ₹148.50 crore through its initial share sale which comprises an entirely fresh issue of 15 million equity shares. The public issue was offered at a price band of ₹94 to ₹99 per share, with a minimum lot size of 99 shares from Sep 17–Sep 19. The public issue received strong investor interest and was subscribed 102.26 times overall.

 

As outlined in the company’s Red Herring Prospectus (RHP), the funds raised from the IPO will be used for repayment or prepayment of certain borrowings, either in full or in part, and for general corporate purposes. 

About VMS TMT

VMS TMT Ltd. is a manufacturer of Thermo-Mechanically Treated (TMT) Bars, operating in the steel sector. The company's manufacturing facility is located in Bhayla Village, Ahmedabad, Gujarat. In addition to TMT bars, VMS TMT also generates revenue from allied products such as billets, binding wires, scrap, and other by-products arising from the TMT production process. The company has a retail license agreement with Kamdhenu Ltd., which permits it to market its TMT bars under the Kamdhenu brand on a non-exclusive basis within Gujarat, excluding the Saurashtra and Kutch regions.