VMS TMT IPO opens today: Analysts see long-term potential; should you bid?

VMS TMT raised ₹26.73 crore from anchor investors by allotting 2.7 million shares at ₹99 per share to five anchor investors

VMS TMT IPO: The initial public offering (IPO) of VMS TMT, a Thermo Mechanically Treated Bars (TMT Bars) manufacturer, is set to open for public subscription on Wednesday, September 17, 2025. The company aims to raise ₹148.5 crore from its maiden public issue, which comprises an entirely fresh issue of 15 million equity shares. 

 

The company has reserved not more than 30 per cent of the issue for qualified institutional buyers (QIBs), not less than 20 per cent for non-institutional investors (NIIs) and not less than 50 per cent for retail investors.

 

VMS TMT raised ₹26.73 crore from anchor investors on Tuesday, September 16, 2025, ahead of its initial public offering. The company allotted 2.7 million shares at ₹99 per share to five anchor investors.

 

 

Saint Capital, Maybank Securities, Astorne Capital, Chanakya Opportunities Fund, and VBCube Ventures participated in the anchor round, according to a circular on BSE.

VMS TMT IPO grey market premium (GMP)

According to sources tracking unofficial markets, VMS TMT shares were seen trading at around ₹122 per share, reflecting a GMP of ₹23 or 23.2 per cent over the upper end of the price band of ₹94 to ₹99.  Track Stock Market LIVE Updates

Should you subscribe to the VMS TMT IPO?

Master Capital Services

According to analysts at Master Capital Services, India’s domestic consumption of TMT bars has been rising steadily, reflecting strong momentum in the construction and infrastructure sectors. Consumption has expanded from about 41.6 million tons to approximately 62.5 million tons, registering a healthy CAGR of around 10.7 per cent during this period. 

 

"Domestic demand for TMT bars is anticipated to rise significantly, driven by the government’s focused efforts on enhancing the nation’s infrastructure. The construction industry’s growth in India is on an upward trajectory, increasingly favouring TMT bars due to their superior qualities," the brokerage said in a note. 

 

VMS TMT is well-positioned to capture the expected growth and is integrating renewable energy initiatives for cost optimisation and sustainability. The company has also consistently explored opportunities to diversify its product portfolio and expand its operations. Investors may consider the IPO as a potential long-term investment opportunity, according to Master Capital.

Here are the key details of VMS TMT IPO: 

VMS TMT IPO is available at a price band of ₹94 to ₹99 per share, with a lot size of 150 shares. The minimum amount required by a retail investor to bid for the IPO is ₹14,850 at the upper end price. A retail investor can bid for a maximum of 13 lots or 1,950 shares, amounting to ₹1,93,050.

 

The three-day subscription window to bid for the issue will conclude on Friday, September 19, 2025. Following the closure of the subscription window, the basis of allotment of shares is likely to take place on Monday, September 22, 2025. Shares of VMS TMT are scheduled to make their D-street debut on Wednesday, September 24, 2025, by listing on the BSE and NSE.

 

Kfin Technologies is the registrar of the issue. Arihant Capital Markets is the sole book-running lead manager.

 

According to the RHP, the company plans to utilise the net issue proceeds for repayment or prepayment of debt availed by the company. The remaining funds will be used for general corporate purposes.