VMS TMT IPO Description – VMS TMT is engaged in the manufacturing of Thermo Mechanically Treated (TMT) Bars at its facility located in Ahmedabad. TMT Bars are high-strength reinforcement steel products widely used in the construction industry for their superior strength, ductility, and corrosion resistance. The company markets and sells its TMT Bars through a non-exclusive distribution network, comprising three distributors and 227 dealers, as of 31 July 2025.
VMS TMT manufactures TMT Bars from scrap and billets at its Ahmedabad facility using a 30-ton induction furnace, CCM, reheating furnace, and rolling mill. With an annual capacity of 2,00,000 metric tonnes (MT), production was 35,741 MT in the three months ended 30 June 2025, and 1,26,065 MT, 1,60,321 MT, and 1,61,807 MT in Fiscal 2025, Fiscal 2024, and Fiscal 2023, respectively.
The company is backed by an experienced management team and a workforce of 230 permanent employees as of 31 July 2025.
Promoters of VMS TMT – Varun Manojkumar Jain, Rishabh Sunil Singhi, Manojkumar Jain, and Sangeeta Jain
Table of Contents
VMS TMT IPO Details
| VMS TMT IPO Dates | 17 – 19 September 2025 |
| VMS TMT Issue Price | INR 94 – 99 per share |
| Fresh issue | 1,50,00,000 shares (INR 148.5 crore) |
| Offer For Sale | Nil |
| Total IPO size | 1,50,00,000 shares (INR 148.5 crore) |
| Minimum bid (lot size) | 150 shares (INR 14,850) |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | BSE, NSE |
VMS TMT Financial Performance
| FY 2023 | FY 2024 | FY 2025 | Q1 FY 2026 | |
| Revenue | 882.01 | 872.96 | 770.19 | 212.26 |
| Expenses | 876.51 | 853.87 | 751.32 | 201.91 |
| Net income | 4.20 | 13.47 | 15.42 | 8.58 |
| Margin (%) | 0.48 | 1.54 | 2.00 | 4.04 |
VMS TMT Offer News
VMS TMT Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 (Pre-Issue) | FY 2025 (Post Issue)* | |
| EPS | 1.39 | 4.01 | 4.29 | 2.97 |
| PE Ratio | – | – | 21.91 – 23.08 | 31.65 – 33.33 |
| FY 2023 | FY 2024 | FY 2025 | |
| RONW (%) | 13.60 | 28.96 | 20.14 |
| NAV | 9.36 | 13.82 | 13.32 |
| ROCE (%) | 10.94 | 16.70 | 12.79 |
| EBITDA (%) | 2.48 | 4.72 | 5.91 |
| Debt/Equity | 5.28 | 4.25 | 3.77 |
VMS TMT IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Subject to Sauda |
| 23 September 2025 | 10 | 1,100 |
| 22 September 2025 | 13 | 1,300 |
| 20 September 2025 | 13 | 1,300 |
| 19 September 2025 | 19 | 2,000 |
| 18 September 2025 | 24 | 2,600 |
| 17 September 2025 | 24 | 2,600 |
| 16 September 2025 | 24 | 2,600 |
| 15 September 2025 | 20 | 2,100 |
| 13 September 2025 | 11 | 1,100 |
VMS TMT Offer Objectives
The company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- Repayment/ prepayment, in full or part, of all or a portion of certain borrowings availed by the company – INR 115 crore
- General Corporate Purposes
VMS TMT IPO Subscription – Live Updates
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 18,00,000 | 30,00,000 | 75,00,000 | 1,23,00,000 |
| 19 Sep 2025 | 120.80 | 227.09 | 47.88 | 102.26 |
| 18 Sep 2025 | 7.47 | 37.25 | 18.98 | 21.75 |
| 17 Sep 2025 | 7.09 | 13.78 | 6.56 | 8.40 |
27,00,000 shares allotted to anchor investors are not included in these calculations.
VMS TMT – Comparison With Listed Peer
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| VMS TMT | 33.33 | 4.29 | 20.14 | 13.32 | 771.41 |
| Kamdhenu | 13.50 | 2.18 | 18.82 | 11.66 | 757.95 |
| Vraj Iron and Steel | 11.77 | 13.55 | 10.88 | 116.53 | 478.86 |
VMS TMT IPO Dates & Listing Performance
| IPO Opening Date | 17 September 2025 |
| IPO Closing Date | 19 September 2025 |
| Finalization of Basis of Allotment | 22 September 2025 |
| Initiation of refunds | 23 September 2025 |
| Transfer of shares to demat accounts | 23 September 2025 |
| VMS TMT IPO Listing Date | 24 September 2025 |
| Opening Price on NSE | INR 104.90 per share (up 5.96%) |
| Closing Price on NSE | INR 99.65 per share (up 0.66%) |
VMS TMT IPO Reviews – Subscribe or Avoid?
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VMS TMT IPO Lead Manager
ARIHANT CAPITAL MARKETS LIMITED
1011 Solitaire Corporate Park,
Building No. 10, Guru Hargovindji Road,
Chakala, Andheri (East), Mumbai – 400 093
Phone: +91- 22-4225 4800
Email: [email protected]
Website: www.arihantcapital.com
VMS TMT Offer Registrar
KFIN TECHNOLOGIES LIMITED
Selenium Tower – B, Plot 31 & 32, Gachibowli,
Financial District, Nanakramguda, Serilingampally,
Hyderabad – 500 032, Telangana
Telephone: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com
VMS TMT Contact Details
VMS TMT LIMITED
Survey No. 214, Near Water Tank,
Bhayla, Ahmedabad – 382 220, Gujarat
Phone: +91 63575 85711
Email: [email protected]
Website: www.vmstmt.com
VMS TMT IPO FAQs
How many shares in the VMS TMT IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 30%, NII – 20%, and Retail – 50%.
How to apply in the VMS TMT Public Offer?
The best way to apply for VMS TMT public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stockbroker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is the VMS TMT IPO GMP today?
VMS TMT IPO GMP today is INR 10 per share.
What is the VMS TMT kostak rate today?
VMS TMT kostak rate today is INR NA per application.
What is VMS TMT Subject to Sauda rate today?
VMS TMT Subject to Sauda rate today is INR 1,100 per application.