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01 Nov, 2025
VMS TMT IPO
The VMS TMT IPO is a book-built issue worth ₹148.50 crores. The IPO is a completely fresh issue of shares, around 1.50 crore shares valued at ₹148.50 crore. The subscription period for the VMS TMT IPO begins on September 17, 2025 and ends on September 19, 2025. It is anticipated that the allotment for the VMS TMT IPO will be finalized on September 22, 2025. The VMS TMT IPO is set to list on the BSE and NSE, with a tentative listing date of September 24, 2025. The price band for the VMS TMT IPO has been established at ₹94.00 to ₹99.00 per share. For an application, the lot size is 150. Based on the upper price, a retail investor needs to invest at least ₹14,850 (which corresponds to 150 shares). Arihant Capital Markets Ltd. serves as the book-running lead manager, while Kfin Technologies Ltd. acts as the issue's registrar.
Company Background
VMS TMT manufactures high-quality Thermo-Mechanically Treated (TMT) bars, which are commonly utilized in construction and infrastructure projects. Its brand is known for strength, longevity and constant quality, making it a popular choice among builders and contractors. The company has established a robust distribution network that serves both regional and expanding markets, providing consistent availability. Strong relationships with dealers and institutional clients boost brand visibility and trust. This reach establishes VMS TMT as a competitive and expanding player in the steel market.
Operations and Product Range
Facility and Production
Founded in 2013, VMS TMT Limited focuses mainly on producing Thermo Mechanically Treated Bars (TMT Bars). The company trades in scrap and binding wires, which are marketed within Gujarat and other states. The company’s production facility is strategically situated in Bhayla Village, close to Bavla in Ahmedabad district, Gujarat, facilitating easy product distribution.
Brand and Market Presence
VMS TMT produces superior TMT bars that are widely used in residential, commercial and infrastructure constructions. The brand has achieved widespread respect for its dependability, robustness and adherence to quality standards, making it a preferred choice for builders and developers. Its market reach spans numerous regions, aided by a large dealer and distribution network. The company also serves institutional customers, government initiatives and private builders, which increases its prominence. This combination of brand trust and extensive market reach strengthens VMS TMT's competitive position in the steel industry.
Revenue Channels
VMS TMT earns revenue largely by selling TMT bars to retail customers, builders and infrastructure companies. A sizable portion comes from its excellent dealer and distribution network, which ensures constant regional sales. Institutional clients, such as the government and large-scale commercial projects, help to generate bulk orders and consistent cash flow. The corporation also benefits from entering new markets where building demand is increasing. Together, these channels form a balanced revenue strategy that promotes both stability and growth.
Management and Shareholding
Promoters and Shareholding
The promoters of VMS TMT Limited are Varun Manojkumar Jain, Rishabh Sunil Singhi, Manojkumar Jain and Sangeeta Jain. As of the IPO information in July/September 2025, the promoters' shareholding was 67.18% post-IPO, down from 96.28% pre-IPO.
Board Members
The current board of directors for VMS TMT Limited includes Varun Manojkumar Jain (Chairman & Managing Director), Rishabh Sunil Singhi (Whole-time Director), Manojkumar Jain (Non-Executive Director) and Vivek Dinesh Nathwani (Independent Director). Other board members, such as Jasmin Jaykumar Doshi and Vinodkumar Bhanwer Singh, are also listed as Independent Directors.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
VMS TMT IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
VMS TMT IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 17, 2025 to September 19, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹94 to ₹99 per share |
| Lot Size | 150 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 1,50,00,000 shares (aggregating up to ₹148.50 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,46,31,210 shares |
| Share Holding Post Issue | 4,96,31,210 shares |
VMS TMT IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | 17 Sep 2025 |
| IPO Close Date | Fri, Sep 19, 2025 |
| Tentative Allotment | Mon, Sep 22, 2025 |
| Initiation of Refunds | Tue, Sep 23, 2025 |
| Credit of Shares to Demat | Tue, Sep 23, 2025 |
| Tentative Listing Date | Wed, Sep 24, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Sep 19, 2025 |
VMS TMT IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,850 |
| Retail (Max) | 13 | 1,950 | ₹1,93,050 |
| S-HNI (Min) | 14 | 2,100 | ₹2,07,900 |
| S-HNI (Max) | 67 | 10,050 | ₹9,94,950 |
| B-HNI (Min) | 68 | 10,200 | ₹10,09,800 |
VMS TMT IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 96.28% |
| Promoter Holding Post Issue | 67.19% |
Competitive Strength:
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VMS TMT IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Jun 2025 | 449.35 | 213.39 | 8.58 | 81.77 | 309.18 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 412.06 | 771 | 15 | 73 | 275.72 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 284.23 | 873.17 | 13.47 | 46.51 | 197.86 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 227.28 | 882.06 | 4.2 | 30.84 | 162.7 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 12.79% |
| Debt/Equity | 6.06 |
| RoNW | 20.14% |
| PAT Margin | 1.91% |
| EBITDA Margin | 5.91% |
| Price to Book Value | 7.43 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.45 | 6.91 |
| P/E (x) | 22.24 | 14.32 |
Objectives of VMS TMT IPO
The VMS TMT IPO aims to pay capital expenditures for the establishment of a solar power plant in Gujarat as well as meet the company's long-term working capital requirements. A portion of the proceeds will also be used to repay or redeem current borrowings and decrease debt. The issuance also intends to improve day-to-day operations by providing appropriate liquidity. In addition, the corporation intends to use some of the proceeds for general corporate objectives. Overall, the IPO aims to promote growth, improve financial health and increase operational efficiency.
Conclusion
The VMS TMT IPO was strategically structured to strike a balance between growth aspirations and financial stability. By investing in renewable energy, meeting working capital needs, decreasing debt and supporting general corporate goals, the company hopes to improve its foundation while positioning itself for long-term growth.
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Frequently asked Questions (FAQs )
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1. What are the IPO dates and listing schedule?
The subscription period for the VMS TMT IPO begins on September 17, 2025 and ends on September 19, 2025. It is anticipated that the allotment for the VMS TMT IPO will be finalized on September 22, 2025.
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2. What products and services does the company offer?
VMS TMT manufactures high-quality Thermo-Mechanically Treated (TMT) bars, which are commonly utilized in construction and infrastructure projects.
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3. Who are the promoters of the VMS TMT IPO?
The promoters of VMS TMT Limited are Varun Manojkumar Jain, Rishabh Sunil Singhi, Manoj kumar Jain and Sangeeta Jain.
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4. What is the lot size and exchange?
For an application, the lot size is 150. Based on the upper price, a retail investor needs to invest at least ₹14,850 (which corresponds to 150 shares).
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