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Subscription Status · Sep 17 – Sep 19, 2025 · ₹94–99
The VMS TMT IPO subscription has recorded exceptional investor demand with an overall subscription of 102.27× as of Sep 24, 2025, indicating that investors applied for 102.27 times the number of shares on offer. All investor categories (institutional, HNI, and retail) have participated actively, making this one of the closely watched IPO openings.
Last updated: Sep 24, 2025, 4:10 PM IST
| Category | Shares Offered | Shares Bid For | Times Subscribed |
|---|---|---|---|
|
QIB
Qualified Institutional Buyers
|
1,800,000 | 217,444,650 |
120.80×
|
|
NII
Non-Institutional Investors
|
3,000,000 | 681,283,200 |
227.09×
|
|
bNII
Bids above ₹10L
|
2,000,000 | 487,692,900 |
243.85×
|
|
sNII
Bids below ₹10L
|
1,000,000 | 193,590,300 |
193.59×
|
|
Retail
Retail Individual Investors
|
7,500,000 | 359,143,350 |
47.89×
|
|
Total
|
12,300,000 | 1,257,871,200 |
102.27×
|
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times |
|---|---|---|---|
| QIB | 1,800,000 | 217,444,650 | 120.80× |
| NII | 3,000,000 | 681,283,200 | 227.09× |
| bNII | 2,000,000 | 487,692,900 | 243.85× |
| sNII | 1,000,000 | 193,590,300 | 193.59× |
| Retail | 7,500,000 | 359,143,350 | 47.89× |
| Total | 12,300,000 | 1,257,871,200 | 102.27× |
As of September 24, 2025, the VMS TMT IPO has been subscribed 102.27 times overall. The IPO is fully subscribed with strong investor demand indicating extremely high interest.
The VMS TMT IPO subscription window was open from September 17, 2025 to September 19, 2025. Investors could apply through their demat account or ASBA facility.
The VMS TMT IPO has a price band of ₹94 to ₹99 per share, with a lot size of 150 shares. Minimum retail investment: ₹14,100 (lower band) or ₹14,850 (upper band).
The QIB category has been subscribed 120.80 times. QIBs were offered 1,800,000 shares. Strong QIB subscription indicates high institutional confidence.
Retail investors subscribed 47.89 times. Retail was offered 7,500,000 shares. High retail subscription reflects strong small-investor interest.
Overall NII: 227.09×. bNII (>₹10L): 243.85×, sNII (<₹10L): 193.59×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on September 22, 2025. Check via the registrar's website, KFin Technologies Limited using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
VMS TMT IPO is expected to list on September 24, 2025. Shares will list on NSE,BSE. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 102.27× means investors have bid for 102.27 times the total shares available. Since the IPO is oversubscribed, not every applicant will receive shares, allotment happens via lottery (for retail) or proportionately (for other categories). Higher multiples generally reduce allotment probability.
Based on the current retail subscription of 47.89×, the estimated allotment probability for retail investors is Low–Moderate. Lottery-based allotment. Retail allotment in oversubscribed IPOs is done by computerised lottery, each valid application has an equal probability regardless of the number of lots applied for.
You can apply for VMS TMT IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Sep 17 to Sep 19, 2025.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest VMS TMT IPO GMP data, check the IPORise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price. Use it only as a sentiment signal alongside official subscription data.
New to reading subscription numbers? Read our guide on IPO subscription explained.
Subscription Opens Done
Sep 17, 2025Subscription Closes Done
Sep 19, 2025Basis of Allotment Done
Sep 22, 2025Listing on NSE,BSE Done
Sep 24, 2025Lottery-based allotment. Based on retail subscription of 47.89×.
Retail allotment in oversubscribed IPOs is done by computerised lottery, each valid application has equal odds regardless of lot size applied.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.
