The VMS TMT IPO was subscribed 102.26 times in total when bidding closed on 19 September 2025. By category: qualified institutional buyers 120.80 times, non-institutional investors 227.09 times, retail investors 47.88 times. The issue closed oversubscribed, so allotment in the oversubscribed categories was by lottery for retail and proportionate for institutions and non-institutional investors.
| Category | Shares offered | Shares bid | Times |
|---|---|---|---|
| Retail | 75,00,000 | 35,91,13,500 | 47.88× |
| NIIs | 30,00,000 | 68,12,81,100 | 227.09× |
| BNIIs (>10L) | 19,99,500 | 48,76,92,900 | 243.91× |
| SNIIs (<10L) | 10,00,500 | 19,35,88,200 | 193.49× |
| QIBs | 18,00,000 | 21,74,44,650 | 120.80× |
Cumulative bids from the BSE and NSE public-issue platforms. The anchor portion is allotted the day before the issue opens and is not part of the book.
| Day | bHNI | QIB | Total | sHNI | Retail | NII |
|---|---|---|---|---|---|---|
| Day 1 (17 September 2025) | 15.00× | 7.09× | 8.40× | 11.34× | 6.56× | 13.78× |
| Day 2 (18 September 2025) | 35.12× | 7.47× | 21.76× | 41.53× | 18.99× | 37.26× |
| Day 3 (19 September 2025) | 243.91× | 120.80× | 102.24× | 193.46× | 47.85× | 227.08× |
Retail was subscribed about 47.88 times, so roughly one in 48 retail applicants received a lot, by lottery, each successful applicant getting exactly one lot. Non-institutional allotment was proportionate at 227.09 times: an applicant for 2271 lots received about ten, and the minimum allotment is the category's minimum application.
102.26 times overall: QIB 120.80 times, NII 227.09 times, retail 47.88 times. The figure is the shares bid for divided by the shares offered in that category, from the exchanges' cumulative bid data.
Yes, 102.26 times overall, and 47.88 times in retail. Above one time, applicants in that category are not guaranteed shares.
Retail was subscribed about 47.88 times, so roughly one in 48 retail applicants received a lot, by lottery, each successful applicant getting exactly one lot.
Qualified institutional buyers are mutual funds, insurers, banks and foreign institutions. Non-institutional investors, also called HNI, are individuals and bodies bidding above two lakh rupees, split into small (two to ten lakh) and big (above ten lakh). Retail is an individual bidding up to two lakh rupees. A book-built mainboard issue sets aside at least 35 percent for retail, 15 percent for NII and up to 50 percent for QIBs.
No. Subscription measures demand during the three bidding days; the listing price is discovered in the pre-open session on listing morning and depends on the market that day. Heavily subscribed issues have listed at a discount and thin ones at a premium. Read the figure with the expected premium and the company's numbers, not instead of them.
22 September 2025. The allotment status is searchable by PAN on Rupix and on the registrar's page from that evening.