VMS TMT Limited made its debut on the stock market on Wednesday morning, listing at a 6 percent premium to its issue price of ₹99 per share. The Gujarat-based steel manufacturer opened trading at ₹104.90 on the National Stock Exchange (NSE) and at ₹105 on the Bombay Stock Exchange (BSE) at 10 am. However, by 10:32 am, the stock had declined to ₹100.98, reflecting a decrease of 3.74 percent from the previous closing price.
Throughout the initial trading session, the stock reached an intraday high of ₹105 and a low of ₹100. Trading volumes were significant, with 41.22 lakh shares valued at ₹42.53 crore exchanged within the first half hour of listing.
The initial public offering (IPO), which was open for subscription from September 17 to 19, received an overwhelming investor response with an oversubscription rate of 102 times. Non-institutional investors led the demand, subscribing 227 times, followed by qualified institutional buyers at 120.80 times, and retail investors at 47.88 times.
VMS TMT raised ₹148.50 crore through a fresh issuance of 1.5 crore equity shares within a pricing band of ₹94 to ₹99. Based on the current trading levels, the company’s total market capitalisation is approximately ₹500.78 crore.
Arihant Capital Markets acted as the book-running lead manager for the issue, while KFin Technologies served as the registrar. The stock has been placed in the ‘T’ Group on the BSE, which imposes a 5 percent price band and requires a 100 percent margin for trading.
Published on September 24, 2025.
