VMS TMT IPO opens for subscription on September 17 and closes on September 19, 2025. The company, based in Ahmedabad, operates in the steel sector with a focus on manufacturing Thermo Mechanically Treated (TMT) bars. Founded in 2013, VMS TMT serves retail and institutional customers primarily from Gujarat across a distribution network of 3 distributors and 227 dealers. With a skilled promoter team bringing over 30 years of experience, VMS TMT IPO offers investors exposure to a growing steel products firm leveraging cost efficiencies and environmental focus to capture market share.
₹10
₹99
₹104.90
Expert Opinions
Market sentiment for VMS TMT IPO is cautiously optimistic given the company’s strong presence in the steel sector with a focus on manufacturing Thermo Mechanically Treated bars. The company’s strengths include an experienced promoter team with deep industry knowledge, a focused regional market approach in Gujarat, and sustainable practices such as renewable energy usage and in-house raw material production to manage costs. Risks include competition from larger national and international steel firms, raw material price volatility, and capacity expansion execution risks.
Valuation analysis of the financial year 2025 for VMS TMT IPO shows a Return on Equity (ROE) of 20.14%, Return on Capital Employed (ROCE) of 12.79%, and a Net Asset Value (NAV) of ₹13.32, depicting reasonable profitability and asset efficiency. From a long-term investment perspective, VMS TMT offers a solid growth story in the steel sector with scope for market expansion.
Investor Considerations
VMS TMT IPO has demonstrated growing company performance with revenue of ₹872.96 crore in FY 2024 and a profit after tax reflecting improved operational efficiency. The steel sector outlook remains robust, backed by strong infrastructure demand and urbanization driving consumption of TMT bars. The VMS TMT IPO valuation for FY 2025 shows a Return on Net Worth (RoNW) of 20.14%, a PAT margin of 1.91%, and a Debt to Equity ratio of 6.06, indicating moderate profitability with high leverage.
Growth prospects include capacity expansion, rising demand for construction steel, and stronger market positioning. However, risks such as raw material price volatility, high debt levels, and industry competition are notable. The IPO suits long-term investors who can withstand sector cyclicality and benefit from industry growth, while short-term investors should monitor market conditions carefully.
| Date | GMP | Trend |
|---|---|---|
| 23 Sep 2025 10.34 | ₹10 | --- |
| 22 Sep 2025 12.03 | ₹10 | --- |
| 21 Sep 2025 19.18 | ₹10 | --- |
| 20 Sep 2025 13.35 | ₹10 | Down |
| 19 Sep 2025 11.16 | ₹20 | --- |
| 17 Sep 2025 15.26 | ₹20 | --- |
| 16 Sep 2025 11.37 | ₹20 | --- |
| 15 Sep 2025 11.39 | ₹20 | Up |
| 13 Sep 2025 11.04 | ₹10 | --- |
| 12 Sep 2025 15.58 | ₹10 | Up |
| 11 Sep 2025 17.32 | ₹00 | --- |
FAQs
The Grey Market Premium showed good accuracy in predicting VMS TMT IPO’s listing performance. With a final GMP of ₹10, it projected a premium of about 10.1% over the issue price of ₹99, indicating a listing near ₹109. The stock actually listed at ₹104.90, delivering a gain of 5.9%. This resulted in a small prediction error of 4.2%, where the GMP correctly signaled a positive listing but slightly overestimated the actual gain, reflecting fair reliability in this case.
VMS TMT IPO Current GMP is ₹10.
VMS TMT IPO Expected Returns is 10.10%.
VMS TMT IPO estimated listing price is ₹109.