The VMS TMT Ltd IPO is available for subscription from September 17 to 19, 2025, with a share price ranging from Rs 94 to Rs 99. Shares are scheduled to be listed on the BSE and NSE on September 24. The IPO has attracted significant interest, being oversubscribed 9 times overall. Retail investors contributed to a 7 times subscription, while non-institutional investors (NIIs) subscribed 14 times and qualified institutional buyers (QIBs) 7 times. The grey market price stands at Rs 121, indicating that investors are willing to pay a premium. The IPO offers a total of 1.5 crore shares as a fresh issue, with a minimum lot size of 150 shares.
The allocation is divided as follows: 50% for retail investors, 30% for QIBs, and 20% for NIIs. The proceeds will be used to repay loans and meet business requirements. The company’s projected profit for FY25 is Rs 154 million, up from Rs 134 million in FY24, driven by the increasing demand for steel in India.