VMS TMT IPO
GMP, Subscription, Price, Dates & Financial Details
Steel & Iron Products
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…
Open Date
Wed, 17 Sep 2025
Close Date
Fri, 19 Sep 2025
Price Band
₹ 94 – 99
Lot Size
150
Issue Size
₹ 148.50 Cr
Minimum Investment
₹ 14,850 (150 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
VMS TMT IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹148.50 Crore, comprising a fresh issue of 1.50 Crore equity shares aggregating to ₹148.50 Crore.
The VMS TMT IPO remained open for subscription from September 17, 2025, to September 19, 2025. The basis of allotment was finalized on September 22, 2025, and the company's shares were listed on the NSE and BSE on September 24, 2025.
The company had fixed the price band at ₹94 to ₹99 per share, with a lot size of 150 shares. Retail investors were required to make a minimum investment of ₹14,850 (based on the upper price band) to apply for one lot.
KFin Technologies Limited served as the registrar to the issue. Arihant Capital Markets Ltd acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, VMS TMT Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
VMS TMT IPO Timeline (Tentative)
- IPO Open Date
- Wed, 17 Sep 25
- IPO Close Date
- Fri, 19 Sep 25
- Basis of Allotment
- Mon, 22 Sep 25
- Initiation of Refunds
- Tue, 23 Sep 25
- Credit of Shares to Demat
- Tue, 23 Sep 25
- Listing Date
- Wed, 24 Sep 25 — NSE & BSE
Open Date
17 September 2025
Close Date
19 September 2025
Basis Of Allotment
22 September 2025
Listing Date
24 September 2025
IPO Subscription
Check Live Subscription →The VMS TMT IPO has received bids for 1,25,78,71,200 shares against 1,23,00,000 shares offered, resulting in an overall subscription of 102.27x. the NII category is subscribed 227.09x, Retail Investors 47.89x, and QIBs 120.8x. Within the NII category, BNII is subscribed 243.85x, while SNII is subscribed 193.59x.
QIB
120.8x
NII
227.09x
BNII
243.85x
SNII
193.59x
RII
47.89x
Total
102.27x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 75,00,000 shares, representing 60.98% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 18,00,000 shares (14.63%), while Non-Institutional Investors (NIIs) receive 30,00,000 shares (24.39%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 1,800,000 | 14.63% |
| Non-Institutional | 3,000,000 | 24.39% |
| BNII | 1,999,500 | 16.26% |
| SNII | 1,000,500 | 8.13% |
| Retail Investors | 7,500,000 | 60.98% |
| Total | 12,300,000 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
VMS TMT Limited KPI Information
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROCE % | 12.79 | 16.7 | 10.94 |
| Debt / Equity | 3.77 | 4.25 | 5.28 |
| RoNW % | 20.14 | 28.96 | 13.6 |
| Pat Margin % | 1.91 | 1.54 | 0.48 |
Peers Comparison
| 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 |
About VMS TMT Limited
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.
VMS TMT IPO Promoters
- Varun Manojkumar Jain
- Rishabh Sunil Singhi
- Manojkumar Jain
- Sangeeta Jain
Promoters Holding
Holding Pre Issue
96.28%
Holding Post Issue
67.19%
VMS TMT IPO Objective
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
VMS TMT Limited Address / Contact Details
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
VMS TMT IPO Lot Size
The VMS TMT IPO has a lot size of 150 shares. Retail investors require a minimum investment of ₹14,850 by applying for 1 lot (150 shares). The maximum application allowed for the retail category is 13 lots (1,950 shares), requiring an investment of ₹1,93,050.
| 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 |
Issue Reservation
- QIB — 14.63%
- NII — 24.39%
- RII — 60.98%
Book Running Lead Managers
- Arihant Capital Markets Ltd
IPO Documents & Links
Explore More IPOs
Currently Open
Coming Up Next
Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the VMS TMT IPO?
VMS TMT IPO is a Book-building IPO with a total issue size of ₹148.5 crore. The VMS TMT IPO price band is ₹94 to 99 per share. The VMS TMT IPO subscription opens on Wed, Sep 17, 2025, and closes on Fri, Sep 19, 2025. The VMS TMT IPO will be listed on the BSE,NSE. KFin Technologies Limited is the registrar for the VMS TMT IPO.
When will the VMS TMT IPO open for subscription?
The VMS TMT IPO opens on Wed, Sep 17, 2025 and closes on Fri, Sep 19, 2025
What is VMS TMT IPO Price Band?
VMS TMT IPO Price Band is ₹94 to 99 per share.
What is VMS TMT IPO Lot Size?
VMS TMT IPO lot size is 150 shares, Retail investors need a minimum investment of ₹14850 based on the upper price band
What is the minimum investment for VMS TMT IPO?
The minimum investment for VMS TMT IPO is ₹14850, based on one lot of 150 shares at the upper price band of ₹99 per share.
How to apply for VMS TMT IPO?
Investors can apply for the VMS TMT IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Sep 19, 2025. The application amount remains blocked until the VMS TMT IPO allotment is finalized.
What is VMS TMT IPO Issue Size?
VMS TMT IPO issue size is ₹148.5 crores.
What is the VMS TMT IPO Allotment Date?
VMS TMT IPO allotment date is Mon, Sep 22, 2025.
Who is the VMS TMT IPO Registrar?
The registrar for VMS TMT IPO is KFin Technologies Limited. Investors can go to KFin Technologies Limited website to check VMS TMT IPO allotment status, refund processing, and other IPO-related information.
What is the VMS TMT IPO GMP?
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 11.11% over the issue price.
Who is the VMS TMT IPO Lead Manager?
The book-running lead managers (BRLMs) for the VMS TMT IPO are Arihant Capital Markets Ltd. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the VMS TMT IPO Red Herring Prospectus (RHP).