VMS TMT Limited IPO

VMS TMT Limited IPO

Mainboard NSE & BSE 100% Book Built Offer
Closed

Price Band

₹94 - ₹99

Total Issue

₹148.50 Cr

Bid Dates

17 Sep - 19 Sep

Subscription

102.27x

Est. GMP

₹17 (17.17%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

VMS TMT is engaged in the manufacturing of Thermo Mechanically Treated Bars (“TMT Bars”) at its facility in Bhayla Village, Ahmedabad, Gujarat. It primarily operates in Gujarat, contributing over 96% of its revenues from this region in recent years. The company sells TMT Bars through a non-exclusive network of 3 distributors and 227 dealers as of July 2025, serving both retail and institutional customers. It also generates revenue from billets, binding wires, scrap, and other by-products. Under a retail licence with Kamdhenu Limited, it markets its products within Gujarat (excluding Saurashtra and Kutch) using the “Kamdhenu Brand.”

Lot Info

Lot Information for VMS TMT IPO
Category 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

Category Reservation

QIB 50%
NII 15%
Ret 35%
Employee
₹0.00
Shareholder
₹0.00

Issue Size

Total ₹148.50 Cr
Fresh Issue
₹148.50 Cr (1.50 Cr Shares)
Offer For Sale
₹0.00 (0.00 Shares)

Objects of Issue

  1. Repayment in full or part, of all or a portion of certain borrowings availed by our Company
  2. General corporate purposes

Grey Market Premium

GMP ₹17
Est. Price ₹116
Est. Gain 17.17%

VMS TMT IPO Peer Comparison

(Rs. in crores)

VMS TMT IPO Peer Comparison Table
Particulars VMS TMT Kamdhenu Vraj Iron BMW Industries Electrotherm
Revenue from Ops (in Crs.) 771.41 757.95 478.86 566.43 4,122.92
PAT (In Crs.) 14.74 60.87 41.83 63.60 428.60
EPS - Dilued 4.29 2.18 13.55 2.83 336.42
NAV per share 13.32 11.66 116.53 30.84 -89.01
RONW 20.14% 18.82% 10.88% 9.16% -377.85%
EBITDA 5.91% 10.09% 13.10% 21.23% 11.63%
PAT Margin 1.91% 8.03% 8.74% 11.23% 10.40%
Price to earning (PE) 39.92 13.50 11.77 16.57 2.37
  • All information pertains to FY 2024-25.
  • The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of August 11, 2025 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for VMS TMT IPO
Particulars June-25 Mar-25 Mar-24 Mar-23
Revenue from Operations 212.26 770.19 872.96 882.01
Profit after Tax 8.58 14.74 13.47 4.20
Net Worth 81.77 73.19 46.51 30.84
Total Borrowing 309.18 275.72 197.86 162.70
Total Assets 449.35 412.06 284.23 227.28
NAV per share (in ₹) 23.61 13.32 13.82 9.36
EPS - Basic (in ₹) 2.48 4.29 4.01 1.39

KPIs

EBITDA

5.91%

PAT

1.91%

RONW

20.14%

ROCE

12.79%

PE Ratio

23.08

PB Ratio

7.43

Mkt Cap (in Crs.)

491.35

  • All the data pertains to FY 2024-25.
  • PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

96.28%

Public

3.72%

Rishabh Singhi 34.69%
Varun Jain 24.54%
Manojkumar Jain 29.69%
Sangeeta Jain 7.36%

Management

Varun Jain Chairman & MD
Vikram Patel CFO

Registrar & Lead Managers

Registrar

KFin Technologies

KFin Technologies

Lead Managers (1)

Arihant Capital Arihant Capital

Subscription Status

Updated as on 19-Sep-2025 19:00:00

Mainboard Subscription Status for VMS TMT IPO
Category Sub (x) Offered Bids
QIB 45.30 48,00,000 21,74,44,650
NII 302.79 22,50,000 68,12,83,200
bHNI 325.13 15,00,000 48,76,92,900
sHNI 258.12 7,50,000 19,35,90,300
Retail 68.41 52,50,000 35,91,43,350
Total 102.27 1,23,00,000 1,25,78,71,200

Frequently Asked Questions

What is VMS TMT IPO?
VMS TMT IPO is a Mainboard IPO having an issue size of ₹148.50 Crs. VMS TMT IPO is priced at ₹94 - ₹99 per share. The issue opens on 17 Sep 25 and closes on 19 Sep 25.
When will VMS TMT IPO open?
VMS TMT IPO opens on 17 Sep 25 and closes on 19 Sep 25.
What is the GMP of VMS TMT IPO?
The estimated Grey Market Premium of VMS TMT IPO is ₹17 per share (17.17%).
What is the lot size of VMS TMT IPO?
The minimum lot size of VMS TMT IPO is 150 shares & the minimum application amount is Rs. 14850.
When is the allotment of VMS TMT IPO?
The allotment date of VMS TMT IPO is 22 Sep 25.
What is the listing date of VMS TMT IPO?
The listing date of VMS TMT IPO is 24 Sep 25.
What is the subscription of VMS TMT IPO?
VMS TMT IPO is subscribed 102.27 times.
What is the price band of VMS TMT IPO?
VMS TMT IPO is priced at ₹94 - ₹99 per share.
How to check allotment status of VMS TMT IPO?
Click the allotment link on VMS TMT IPO page of IPO360.
How to apply VMS TMT IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply VMS TMT IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply VMS TMT IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select VMS TMT IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date