VMS TMT IPO Day 2 Details, Subscription Status, GMP

VMS TMT IPO Day 2 Details

Day two of the VMS TMT IPO has been nothing short of a frenzy, and steel bars have rarely felt so glamorous. If you’ve ever wondered what it’s like to see numbers snowball on a live finance terminal — well, this morning, the subscription boxes practically lit up: 11.16 crore equity shares bid for against 1.23 crore on offer, oversubscribed 9.08 times as of 10:05 a.m. That isn’t just “enthusiastic investor demand” — that’s the kind of thing you tell your business partner over a breakfast of overly sweet chai and mashed kachori, grinning because your steel bet looks even shinier than the cutlery.

VMS TMT is tapping into the IPO market in a crowd-pleaser way: price band set at ₹94–99 per share, all fresh issue (no offer-for-sale drama), targeting a cool ₹148.5 crore. The listing’s scheduled for September 24 on both BSE and NSE, and the last bidding day (September 19) is expected to see a last-minute burst, like those shoppers who always wait until the final hour for a discount.

Explaining the steel game doesn’t need to get stiff: VMS TMT is all about manufacturing Thermo Mechanically Treated Bars (TMT Bars), which — if you’ve ever seen a construction site — are the actual backbone of Indian infrastructure. Ahmedabad is their HQ, and from there, most of the business action stays in Gujarat. Production is up to 200,000 metric tonnes a year. To be honest, as someone who’s seen more “IPO explanation sheets” than Diwali sweets, it’s refreshing to see a company with such a practical product making a big financial splash.

VMS TMT IPO GMP 

The GMP today is looking downright perky — between ₹22 and ₹23 per share, which is over 22% on the issue price. If you’re the sort who checks GMP at chai stalls and WhatsApp groups (“Boss, kitna premium chal raha hai?”), these numbers mean the market expects a robust listing. Unlisted shares trading at ₹121–₹122 against the upper price band of ₹99 is a sign of healthy optimism.

Let’s be honest: GMP is part science, part street smarts, sometimes a dash of hopeful bias. It measures how much investors are willing to pay over the IPO price before listing, based on swirling sentiment. Today’s GMP suggests a chunky demand, but as every seasoned investor will tell you, it can zig-zag wildly — so don’t skip your usual research just because everyone in your building WhatsApp group is buzzing about jackpots.

If you’re new to GMP, imagine trying to price a cricket bat just before the local tournament: if every kid wants one, you can charge a bit extra — as long as you deliver on the performance!

VMS TMT IPO Subscription Status

Subscription numbers for day two are making headlines in every investor’s WhatsApp group (and probably a few frantic family calls to “put in one more application!”).
Here’s how the action stands:

• Retail Individuals: 7.32 times subscribed. Clearly, India loves steel, or maybe just a good listing pop.
• Non-Institutional Investors (NII): 14.67 times. These are the veteran punters, the “IPO ke ustaad.”
• Qualified Institutional Buyers (QIB): 7.10 times. Even the big suits have signed up in droves.
• Total Subscription: 9.08 times across all categories which is a wild stampede for a fresh issue.

Quick trivia: minimum bid is 150 shares, and every lot afterwards in multiples of 150. Allocation splits 50% for retail, 30% QIB, 20% NII. No offer-for-sale, only fresh shares. If you squint at the numbers long enough (trust me, I’ve done it), the distribution feels democratic — everyone, from the uncle with a Demat account to the anchor investor in Nariman Point, gets a shot.