VMS TMT IPO Subscribed 16.26x So Far on Day 2; NII Portion Leads with 26.27x

Ahmedabad, Sep 18, 2025: The VMS TMT Limited IPO continued to see massive investor interest on the second day of bidding, with a subscription of 16.26 times so far. Institutional and retail categories both exhibited robust appetite, driving the issue far ahead of full subscription by Thursday morning.

VMS TMT Limited, founded in 2013, is involved in the production of Thermo Mechanically Treated (TMT) Bars at its unit in Bhayla Village, Ahmedabad, Gujarat. The company has a distribution network of 3 distributors and 227 dealers, primarily catering to Gujarat (excluding Saurashtra and Kutch). Its TMT bars are branded as “Kamdhenu,” and it also derives revenue from billets, binding wires, scrap, and allied by-products.

Category-Wise Bidding (as of Sep 18, 2025, 1:44 PM)

The VMS TMT Ltd IPO witnessed robust investor demand on Day 2, as the issue remained subscribed 16.26 times collectively till 1:44 PM on September 18, 2025. The QIBs segment got subscribed 7.28 times with bids made for 1.31 crore shares against 18 lakh shares allotted.

The Non-Institutional Investors (NIIs) segment participated the most, subscribing 26.27 times. Under this, the bNII (bids above ₹10 lakh) segment was subscribed 25.34 times and the sNII (bids below ₹10 lakh) segment witnessed an even higher subscription of 28.13 times. Retail investors participated equally well, with their portion being subscribed 14.41 times, amounting to bids for 1.08 crore shares compared to 75 lakh offered.

Overall, the IPO saw bids for 19.99 crore shares against the offer of 1.23 crore shares, mobilising applications worth almost ₹1,979.76 crore. The issue saw 6,15,391 applications, reflecting strong demand across categories of investors.

Anchor Allocation

Before the issue, VMS TMT raised ₹26.73 crore from anchor investors on September 16, 2025, through the allotment of 27,00,000 shares at ₹99 each. The allocation attracted five institutional investors: Saint Capital Fund, Maybank Securities PTE, Astorne Capital VCC – Arven, Chanakya Opportunities Fund I, and Vcube Ventures Fund. Notably, no allocation was made to mutual funds.

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations