VMS TMT IPO to list on Sep 24: GMP signals double-digit gains for investors

VMS TMT IPO shares are set to make their D-Street debut on September 24. Here's what the latest grey market premium suggests about the potential listing of the company's shares

VMS TMT IPO Listing Price Prediction: As investors await the listing of VMS TMT shares on the stock exchanges, indications from the grey market suggest a positive debut. The shares are scheduled to be listed on the BSE and NSE on Wednesday, September 24, 2025.

 

Ahead of the listing, unlisted shares of VMS TMT, whose IPO allotment was finalised just a day ago, were trading at around ₹111 per share in the unofficial market. This reflects a grey market premium (GMP) of ₹12 per share, or approximately 12.12 per cent over the issue price. If the current grey market trend sustains, VMS TMT shares are likely to list at around ₹111. This would translate to a listing gain of over 12 per cent for investors who received share allotments.

VMS TMT IPO details

VMS TMT launched its public issue to raise ₹148.50 crore through a fresh offering of 15 million equity shares. The IPO was available at a price band of ₹94 to ₹99 per share, with a minimum lot size of 99 shares. The offering received strong investor interest and was subscribed 102.26 times overall.

 

Among investor categories, the highest demand came from non-institutional investors (NIIs), who subscribed 227.09 times. This was followed by qualified institutional buyers (QIBs) at 120.80 times, while retail investors (RIIs) subscribed 47.88 times by the close of the issue.

 

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.