VMS TMT IPO
Open MainLineCurrent GMP
₹11 (+11.11%)
Price Band
₹ 94 – 99
Lot Size
150
Issue Size
₹148.5 Cr
Minimum Investment
₹14850 (150 Shares)
Listing Date
24 September 2025
Subscription
102.27x
About the Company
Incorporated in 2013, VMS TMT Limited is engaged in the manufacturing of Thermo Mechanically Treated (TMT) Bars. In addition to TMT bars, the company also trades in scrap and binding wires, catering to customers within Gujarat as well as other states.
The company’s manufacturing facility is strategically located at Bhayla Village, near Bavla in Ahmedabad district, Gujarat, providing excellent connectivity for efficient distribution of its products.
Distribution Network
VMS TMT Limited operates through a well-established distribution network on a non-exclusive basis. As of August 31, 2024, the company’s network comprises:
- 3 distributors
- 227 dealers
This network enables the company to effectively serve its customers across Gujarat and select other states.
Retail License Agreement
On November 7, 2022, VMS TMT Limited entered into a retail license agreement with Kamdhenu Limited. Under this agreement, the company is authorized to market its TMT Bars under the brand name ‘Kamdhenu NXT’ within Gujarat, on mutually agreed terms.
Workforce
The company’s operations are supported by a professional and experienced management team, along with 170 permanent employees as of September 10, 2024.
Promoters
- Varun Manojkumar Jain
- Rishabh Sunil Singhi
- Manojkumar Jain
- Sangeeta Jain
Promoters Holding
Holding Pre Issue
96.28%
Holding Post Issue
67.19%
Objects of the Issue
The Company VMS TMT IPO proposes to utilise the Net Proceeds from the Issue towards the following objects.
- Funding capital expenditure for setting up of solar power plant at Survey Nos. 82, 81, 63, 64, 61,49,40 and 39 situated at Village Zenta, Tharad Taluka, Banaskantha District, Gujarat – 385565. (“Solar Power Plant”)
- Funding long-term working capital requirements of our Company
- Repayment/ prepayment, in full or part, of certain borrowings availed by our Company
- General Corporate Purposes
Address / Contact Info
VMS TMT Ltd.
Survey No 214 Bhayla Village,
Near Water Tank Bavla,Ahmedabad
Ahmedabad, Gujarat, 382220
Phone: +91 63575 85711
Email: compliance@vmstmt.com
Website: http://www.vmstmt.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 17 September 2025
IPO Close Date
Friday, 19 September 2025
Basis of Allotment
Monday, 22 September 2025
Initiation of Refunds
Tuesday, 23 September 2025
Credit of Shares to Demat
Tuesday, 23 September 2025
Listing Date
Wednesday, 24 September 2025 — NSE & BSE
Important Dates
Open Date
17 September 2025
Close Date
19 September 2025
Basis Of Allotment
22 September 2025
Listing Date
24 September 2025
Financial Performance (₹ in Crores)
| Particular | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 449.35 | 412.06 | 284.23 | 227.28 |
| Revenue | 213.39 | 771.41 | 873.17 | 882.06 |
| Profit After Tax | 8.58 | 15.42 | 13.47 | 4.2 |
| Net Worth | 81.77 | 73.19 | 46.51 | 30.84 |
| Reserve & Surplus | 47.14 | 38.56 | 33.18 | 18.23 |
| Total Borrowings | 309.18 | 275.72 | 197.86 | 162.7 |
EPS Pre
4.45%
EPS Post
6.91%
P/E Pre
22.24
P/E (Post Issue)
14.32x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 0 | 0 | 0 |
| ROCE % | 12.79 | 16.7 | 10.94 |
| Debt / Equity | 3.77 | 4.25 | 5.28 |
| RoNW % | 20.14 | 28.96 | 13.6 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 1.91 | 1.54 | 0.48 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 1800000 | 14.63 | 0 |
| Non-Institutional | 3000000 | 24.39 | 0 |
| BNII | 1999500 | 16.26 | 0 |
| SNII | 1000500 | 8.13 | 0 |
| Retail Investors | 7500000 | 60.98 | 0 |
| Total | 12300000 | 100 | 0 |
Subscription Status ( Fri, 19 Sep 25 01:50 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1800000 | 217444650 | 120.8x |
| Non-Institutional | 3000000 | 681283200 | 227.09x |
| BNII | 2000000 | 487692900 | 243.85x |
| SNII | 1000000 | 193590300 | 193.59x |
| Retail Investors | 7500000 | 359143350 | 47.89x |
| Total | 12300000 | 1257871200 | 102.27x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| VMS TMT Ltd | 10 | 0.00 | 4.29 | 4.29 | 20.14 | 13.32 |
| Kamdhenu Ltd | 10 | 13.50 | 2.18 | 2.18 | 18.82 | 11.66 |
| Vraj Iron and steel Ltd | 10 | 11.77 | 13.55 | 13.55 | 10.88 | 116.53 |
| BMW Industries Ltd | 1 | 16.57 | 2.83 | 2.83 | 9.16 | 30.84 |
| Electrotherm (India) Ltd | 10 | 2.37 | 336.42 | 336.42 | -377.85 | -89.01 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 150 | 14,850.00 |
| Retail (Max) | 13 | 1,950 | 193,050.00 |
| S-HNI (Min) | 14 | 2,100 | 207,900.00 |
| S-HNI (Max) | 67 | 10,050 | 994,950.00 |
| B-HNI (Min) | 68 | 10,200 | 1,009,800.00 |
Registrar
Kfin Technologies Limited
04067162222, 04079611000
reachus@kfintech.com
https://www.kfintech.com
Book Running Lead Managers
- Arihant Capital Markets Ltd
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
VMS TMT IPO is a Book-building IPO worth ₹148.5 crores. The price band is ₹94 to 99 per share. The IPO opens on Wed, Sep 17, 2025 and closes on Fri, Sep 19, 2025. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.
The VMS TMT IPO opens on Wed, Sep 17, 2025 and closes on Fri, Sep 19, 2025
VMS TMT IPO Price Band is ₹94 to 99.
VMS TMT IPO lot size is 150, and the minimum amount required for application is ₹14850.
The minimum investment for VMS TMT IPO is approximately ₹14850 based on the upper price band.
To apply for the VMS TMT IPO , investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Sep 19, 2025. After submission, funds are blocked until the basis of allotment of VMS TMT IPO is finalised.
VMS TMT IPO issue size is ₹148.5 crores.
VMS TMT IPO allotment date is Sat, Jun 27, 2026.
The registrar for VMS TMT IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to VMS TMT IPO through their official website or helpline.
The VMS TMT IPO GMP (Grey Market Premium) is ₹11 as of Wed, Sep 24, 2025. Based on the upper price band of ₹99 per share, the estimated VMS TMT IPO listing price is ₹110, indicating a potential listing gain of approximately 31% over the issue price.