VMS TMT IPO day 3: GMP, subscription status to review. Apply or not?

VMS TMT IPO day 3: The initial public offering (IPO) of VMS TMT Limited hit the Indian primary market on 17 September 2025, and the VMS TMT IPO subscription will remain open until 19 September 2025. So, investors have just one day to apply for the public issue. The company has fixed the VMS TMT IPO price band at ₹94 to ₹99 per equity share. The upcoming IPO is proposed for listing on the BSE and the NSE. The mainboard issue aims to raise ₹148.50 crore from its initial offer by issuing fresh shares.

VMS TMT IPO GMP today

Meanwhile, VMS TMT's IPO created a buzz in the grey market much before the opening of its subscription. According to stock market observers, shares of the company are available at a premium of ₹22 in the grey market today. VMS TMT's IPO GMP today is ₹22, which signals a 22% listing gain for potential investors. Market observers said the high premium in the grey market can be attributed to two significant reasons: strong VMS TMT IPO subscription status and positive sentiments in the secondary market.

VMS TMT IPO subscription status

By 3:39 PM on day 3 of bidding, the public issue had been booked 98.96 times, the retail portion had been subscribed 44.94 times, whereas its NII segment had been filled 225.03 times. The QIB segment had been subscribed to 113.95 times.

VMS TMT IPO review

Highlighting the company's business outlook, Master Capital Services said, "As the government continues to prioritise the development of quality and sustainable infrastructure, TMT bars are set to play a crucial role. Given the evolving structural requirements of contemporary construction projects, their widespread adoption is not just a trend but a necessity. Engineers and builders nationwide are increasingly turning to TMT bars to meet these demands, owing to their numerous advantages over traditional reinforcement materials."

On whether one should apply for the book build issue or not, Master Capital Services says, "VMS TMT Ltd 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."

Advising investors to apply for the public issue, Anuj Gupta, Director at Ya Wealth, said, “VMS TMT deals in the metal sector, which is highly bullish due to the rising metal prices in the global markets. The company has offered its public issue at a discounted price, and hence, the valuation also provides a breathing space for a primary market investor. Looking at the secondary market mood, we expect a positive debut of VMS TMT shares, and one can apply for the public issue depending upon their perspective.”

Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.