IPO Subscription : Is a 25% Listing Gain Possible? The Buzz Around the VMS TMT IPO

The initial public offering (IPO) for steel manufacturer VMS TMT Ltd. received an enthusiastic response from investors on its opening day, getting subscribed more than 8 times over. The strong start indicates healthy market confidence in the company's debut.The IPO, which is available for subscription until September 19, 2025, seems to have resonated well with all categories of investors. The company, known for producing TMT bars, has established a price range of₹94 to₹99 per share for its offering. For retail investors, the minimum investment is₹14,850 for a lot of 150 shares.A Look at the First-Day Subscription NumbersInterest was high across the board. The category for Non-Institutional Investors (NIIs) was subscribed almost 14 times, while Qualified Institutional Buyers (QIBs) subscribed to their portion over 7 times. Retail investors also participated actively, subscribing to their allotted portion more than 6.5 times. This level of interest on the first day is a positive signal for the company.Grey Market BuzzIn the unlisted market, often seen as an early indicator of listing performance, VMS TMT is also showing positive signs. The Grey Market Premium (GMP) for the shares is reported to be in the range of₹23 to₹24. This suggests the shares are trading at a premium of about 23-25% above the IPO price in the informal market, hinting at a potentially strong stock market listing.Through this IPO, which consists entirely of a fresh issue of shares, VMS TMT aims to raise approximately₹148.5 crore. The proceeds are expected to be used for the company's expansion plans and working capital. The allotment of shares is anticipated to be finalized around September 23, with the stock expected to be listed on the BSE and NSE on September 24, 2025.