VMS TMT IPO Details
The key details of VMS TMT’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.
| IPO Size | ₹148.50 Cr |
| Price Range | ₹94 - ₹99 |
| Retail Quota | 50% |
| QIB Quota | 30% |
| NII Quota | 20% |
| Employee Discount | -- |
| Listing at | NSE and BSE |
| Minimum Quantity | 150 |
| Investment (cut-off price) | ₹14,850 |
| Pre IPO Promotor Holding | 96.28% |
| Post IPO Promotor Holding | 67.19% |
| DHRP Draft | Click Here |
| RHP Draft | Click Here |
| Anchor Investors List | Click Here |
VMS TMT IPO Timelines
The IPO process for VMS TMT includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.
17/09/2025
Start Date19/09/2025
End Date23/09/2025
Refund Initiation23/09/2025
Credit of Shares to Demat Ac24/09/2025
Listing DateVMS TMT IPO Lot Size
The VMS TMT IPO has a fixed lot size of 150 shares, at an upper price band of ₹99 per share. For retail investors, the minimum application is 150 shares (1 lot) amounting to ₹14,850, while the maximum is 1,950 shares (13 lots) worth ₹1,93,050. For Small HNI (S-HNI) investors, the minimum application is 2,100 shares (14 lots) worth ₹2,07,900, while the maximum is 10,050 shares (67 lots) amounting to ₹9,94,950. Big HNI (B-HNI) investors need to apply for at least 10,200 shares (68 lots), totaling ₹10,09,800.
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 150 | ₹14,850 |
| Retail Maximum | 13 | 1950 | ₹1,93,050 |
| S-HNI Minimum | 14 | 2100 | ₹2,07,900 |
| S-HNI Maximum | 67 | 10050 | ₹9,94,950 |
| B-HNI Minimum | 68 | 10200 | ₹10,09,800 |
VMS TMT IPO Subscription Status
The subscription status for VMS TMT IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.
| QIB | NII | Retail | EMP | Total |
|---|---|---|---|---|
| 120.80x | 227.08x | 47.85x | -- | 102.24x |
IPO Performance on Listing Day
On the listing day (September 24, 2025), VMS TMT made a positive debut on the stock exchange. The stock opened at ₹104.90, securing a premium of 5.9% over its issue price of ₹99. The TMT steel company showed brief upward movement, reaching a day high of ₹105.00, before encountering selling pressure that brought the stock down to ₹99.65. The shares concluded their first trading day at ₹99.65, which also marked the day’s low, resulting in a marginal gain of 0.7% over the issue price, indicating cautious investor sentiment toward the steel sector despite the initial positive opening for this TMT bar manufacturer.
| Opening Price | Closing Price | Day High | Day Low |
|---|---|---|---|
| ₹104.90 | ₹99.65 | ₹105.00 | ₹99.65 |
VMS TMT IPO Company Financials
VMS TMT reports robust performance in FY2025 with Total Income of ₹771.41 crores, managing expenses at ₹751.32 crores, and achieving a strong PAT (Profit After Tax) of ₹15.42 crores, demonstrating significant growth potential ahead of its public offering.
| Year | Total Income | Total Expense | PAT |
|---|---|---|---|
| FY 2023 | ₹882.06 | ₹876.51 | ₹4.20 |
| FY 2024 | ₹873.17 | ₹853.87 | ₹13.47 |
| FY 2025 | ₹771.41 | ₹751.32 | ₹15.42 |
| FY 2026 (3 M) | ₹213.39 | ₹201.91 | ₹8.58 |
About Company
Incorporated in 2013, VMS TMT Limited is primarily engaged in the manufacturing of Thermo Mechanically Treated (TMT) Bars, with additional operations in scrap and binding wire sales. The company’s manufacturing facility is located in Bhayla Village near Bavla in the Ahmedabad district of Gujarat, offering strategic advantages for product distribution across Gujarat and other states. On November 7, 2022, VMS TMT entered into a retail license agreement with Kamdhenu Limited, allowing it to market its TMT Bars under the brand name ‘Kamdhenu NXT’ within Gujarat under mutually agreed terms.
As of July 31, 2025, the company operates through a non-exclusive distribution network comprising 3 distributors and 227 dealers, ensuring widespread market reach. VMS TMT Limited is supported by a professional management team and employs 230 permanent staff members, contributing to the efficient operation and growth of the business.
| Incorporation Date | Sector | Managing Director |
|---|---|---|
| 2013 | Steel | Varun Jain |
Know Before Investing
VMS TMT IPO Strengths
- VMS TMT has an annual production capacity of 200,000 metric tonnes of Thermo Mechanically Treated (TMT) bars, ensuring significant scale to meet demand.
- Specializes in manufacturing TMT bars known for superior strength, ductility, and corrosion resistance, critical for the construction industry.
- Markets its TMT bars under the ‘Kamdhenu NXT’ brand through partnership with Kamdhenu Limited, leveraging established market presence and customer trust.
- Maintains a network of three distributors and 227 dealers (as of February 2025), providing widespread market reach and accessibility.
- Demonstrated revenue growth from ₹493.73 crore in FY22 to ₹872.96 crore in FY24, along with improved net income and operating margins.
- Plans to manufacture billets in-house using an electric induction furnace to reduce dependency on external suppliers, enhancing control over raw materials and costs.
VMS TMT IPO Risks
- Disruptions or volatility in the supply and price of key raw materials, mainly steel billets, can adversely affect production costs and margins.
- Over 98% of revenue comes from Gujarat, exposing the company to regional economic downturns or regulatory risks.
- Despite growing revenue, profit margins remain low, with PAT margin around 1.54% in FY24, indicating vulnerability to cost pressures and pricing competition.
- Heavy dependence on the Kamdhenu brand for marketing its TMT bars may limit independent brand-building and pricing power.
- Faces competition from both organized large steel producers and unorganized players, which can squeeze margins and reduce market share.
- Planned backward integration projects like in-house billet manufacturing at Mehsana involve execution risks, such as delays and cost overruns.
- Sensitive to economic cycles affecting the construction industry, such as interest rate changes and infrastructure spending cuts, which can reduce steel demand.
Swot Analysis for VMS TMT IPO
Strengths
Strong Regional Presence, Planned Backward Integration, Efficient Distribution Network
Weaknesses
Geographical Concentration, Raw Material Dependence, Price Fluctuations
Opportunities
Regional Market Penetration, Growing Construction Sector, Sustainability & Green Steel
Threats
Raw Material Price Volatility, Regulatory Risks, Supply Chain Disruption
Company Details
VMS TMT Ltd.
Survey No 214 Bhayla Village, Near Water Tank Bavla, Ahmedabad-382220,Gujarat, India.
Phone: +91 63575 85711
Email: compliance@vmstmt.com
Website: http://www.vmstmt.com/
IPO Registar Details
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: vtl.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
FAQs
The key objectives of VMS TMT IPO are:
- Repayment/ prepayment, in full or part, of all or a portion of certain borrowings availed by the Company
- General corporate purposes
Arihant Capital Markets Ltd. is the book-running lead managers for the VMS TMT IPO.
VMS TMT IPO reflects strong growth potential with production volumes rising from 88,410 MT in FY22 to 161,902 MT in FY24, nearly doubling in two years. Capacity expansion and strong infrastructure demand enhance scalability, though raw material volatility and sector competition remain key risks for sustaining margins.
The issue price for the VMS TMT IPO is set between ₹94 to ₹99 per share.
To invest in one lot of VMS TMT IPO, you need ₹14,100 at the lower price band (₹94 per share) or ₹14,850 at the upper price band (₹99 per share) for a lot size of 150 shares.
VMS TMT IPO shares are scheduled to be listed on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 24, 2025.
Refund/unblocking of funds for VMS TMT IPO will begin on September 23, 2025. ASBA/UPI blocks will be removed within 1 working day.
You can sell shares your VMS TMT IPO shares on listing day (September 24, 2025) after they are credited to your demat account. If you want to sell in the pre-open market, the timing for that session is from 9:00 AM to 9:15 AM. Otherwise, you can sell after 10:00 AM during regular trading hours.