VMS TMT shares to make stock market debut today; will it deliver a strong listing pop?

Shares of VMS TMT are set to be listed on both BSE and NSE on Wednesday, September 24, on a decent note as the Ahmedabad-based metal products company completed its initial public offering (IPO), between September 17 and 19, saw a price band of Rs 94-99 per share and a lot size of 150 shares.

Retail investors were required to invest at least in one lot, while the IPO was entirely a fresh issue amounting to Rs 148.50 crore from the sale of 1,50,00,000 equity shares. Arihant Capital Markets acted as the sole book running lead manager and Kfin Technologies was the registrar for the issue.Brokerage firms have expressed a favourable view of the IPO.

Ahead of the listing, market sentiment for VMS TMT shares appears cautiously optimistic. The grey market premium (GMP) for the shares recovered to Rs 12-13 after an earlier correction, down from Rs 22-23 during the IPO bidding phase. This latest GMP points towards an estimated 12-13% listing gain for investors, though recent selling pressure in broader markets may impact the stock's debut performance.

The VMS TMT IPO garnered substantial investor interest, being subscribed a robust 102.26 times with more than 21.37 lakh applications and total bids worth Rs 12,450 crore (net of anchor book). Qualified institutional buyers (QIBs) subscribed 120.8 times, non-institutional investors (NIIs) 227.09 times, and the retail quota was booked at 47.88 times. These figures highlight significant demand across investor categories.

Founded in 2013, VMS TMT manufactures Thermo Mechanically Treated (TMT) Bars and also deals in scrap and binding wires, catering to Gujarat and other states. Its strategically located manufacturing facility in Bhayla Village near Bavla, Ahmedabad, enables efficient product distribution to key markets