Not investment advice. Read RHP before applying.
Price Band
₹94 – ₹99
GMP (Indicative)
₹11
Unofficial · not guaranteed
Lot Size
150 shares
Status
Listed
Open Date
2025-09-17
Close Date
2025-09-19
Listing Date
2025-09-24
Min. Investment
₹14,850
Overview
About the Company
VMS TMT Limited is an Indian steel manufacturing company engaged in the production and distribution of TMT bars used in construction and infrastructure projects. The company operates integrated manufacturing facilities and focuses on producing high-strength thermo-mechanically treated (TMT) bars for residential, commercial, and industrial construction. VMS TMT serves a wide network of dealers and customers across India and aims to expand its production capacity, strengthen distribution channels, and support the growing infrastructure and real estate sectors.
New to IPO analysis? You may review our structured guides on how IPO allotment works and IPO subscription meaning to better understand demand and allocation mechanics.
Financials
Key Financial Metrics
EPS Pre IPO
4.45
EPS Post IPO
6.91
P/E Pre
22.24
P/E Post
14.32
ROCE
12.79%
Debt / Equity
3.77
PAT Margin
1.91%
Market Cap
491.35
Financial figures sourced from official offer documents. Always verify with the RHP.
Issue
IPO Issue Details
Issue Price
₹94 – ₹99
Face Value
₹10
Issue Size
₹ 148.50 Cr
Fresh Issue
₹ 148.50 Cr
Listing At
NSE,BSE
Lead Manager
Arihant Capital Markets Ltd.
Registrar
Kfin Technologies Ltd.
Lot Size
150
For category-wise quota breakdown such as QIB, HNI, and Retail allocation, refer to our IPO quota structure explanation.
Investors
Anchor Investors
SAINT CAPITAL FUND, MAYBANK SECURITIES PTE, ASTORNE CAPITAL VCC- ARVEN, CHANAKYA OPPORTUNITIES FUND I, VBCUBE VENTURES FUND
GMP (Grey Market Premium)
GMP Overview
₹11
Updated —
+11.1% over issue price
GMP is unofficial and indicative only. It does not guarantee listing price or returns.
GMP is unofficial and indicative. To understand interpretation logic and limitations, read our IPO Grey Market Guide or begin with what IPO GMP means.
Trend
GMP Trend
No GMP data yet. Updates will appear once available.
Investment
Market Lot Details
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 150 | 14850 |
| Retail (Max) | 13 | 1950 | 193050 |
| sNII (Min) | — | — | — |
| bNII (Min) | — | — | — |
| sNII (Max) | 67 | 10050 | 994950 |
| bNII (Max) | — | — | — |
Investors can bid in multiples of the lot size. Final investment depends on the cutoff price.
Valuation
IPO Valuation Metrics
EPS Pre IPO
4.45
EPS Post IPO
6.91
P/E Pre
22.24
P/E Post
14.32
ROCE
12.79%
Debt/Equity
3.77
RoNW
—
PAT Margin
1.91%
Market Cap
491.35
Contacts
Company & Registrar Details
Company Address: Survey No 214 Bhayla Village, Near Water Tank Bavla, Ahmedabad Ahmedabad, Gujarat – 382220
Phone: +91 63575 85711
Email: compliance@vmstmt.com
Website: http://www.vmstmt.com/
Registrar: Kfin Technologies Ltd.
Registrar Phone: +91 04067162222
Registrar Email: vtl.ipo@kfintech.com
Registrar Website: https://ipostatus.kfintech.com/
Issue Summary
Objectives of Issue
- The company intends to utilize the net proceeds from the IPO for the following purposes:
- Funding working capital requirements of the company.
- Repayment and/or prepayment of certain borrowings.
- General corporate purposes.
- Strengthening the company’s financial position and supporting business expansion.
Ownership
Promoter Holdings
Pre Issue
96.28%
Post Issue
67.19%
Allocation
Reservation Details
QIB
30
NII
20
RII
50
Employee
0
Documents
Important Links
Performance
Listing Performance
Listing Exchange
NSE,BSE
Listing Price
₹104.9
Listing Gain
5.959595959595959%
Qualitative Factors
Strengths & Risks
Company Strengths
- Established presence in the steel and TMT bar manufacturing industry with a focus on construction-grade products.
- Strong demand outlook driven by growth in infrastructure and real estate sectors in India.
- Integrated manufacturing operations enabling better control over quality and production efficiency.
- Wide distribution network with a growing customer base across multiple regions.
- Experienced management team with industry knowledge and operational expertise.
- Focus on maintaining product quality and compliance with industry standards.
Company Risks
- The company operates in a highly cyclical steel industry, making it sensitive to fluctuations in demand from the construction and infrastructure sectors.
- Volatility in raw material prices (such as iron ore and scrap) may impact profit margins.
- High competition from established steel manufacturers and regional players could affect market share.
- Dependence on a limited number of suppliers for raw materials may pose supply chain risks.
- Any slowdown in the real estate or infrastructure sector could adversely impact business performance.
- The company may have outstanding borrowings, and inability to manage debt effectively could affect financial stability.
- Regulatory and environmental compliance requirements in the steel industry may increase operational costs.
Schedule
Timeline
Open Date
2025-09-17
Close Date
2025-09-19
Allotment Date
2025-09-22
Refund Date
2025-09-23
Listing Date
2025-09-24
Legal Disclaimer
Information is sourced from publicly available exchange filings and company offer documents. GMP is unofficial and indicative. IPOCraft does not provide investment advice.
Subscription
Live Subscription Details
| Day | QIB | NII | sNII (< ₹10L) | bNII (> ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| 2025-09-24 09:33 | —x | -1x | —x | —x | —x | 102.24x |
Subscription Progress
Subscription data sourced from exchange updates. Values represent times subscribed (x).
Learn how subscription categories are allocated by reading our guide on QIB, HNI and Retail IPO quota structure.
If you are tracking GMP alongside subscription demand, see our grey market premium guide for a structured comparison framework.
Application
How to Apply
UPI Method (ASBA)
Log in to your broker's app or net banking, navigate to the IPO section, select this IPO, enter lot quantity, and authorise via UPI mandate. Funds are blocked, not debited, until allotment.
ASBA via Net Banking
Log in to your bank's net banking portal, go to the IPO / ASBA section, fill in the bid details, and submit. Your bank will block the required amount automatically.
Allotment & Refund
Allotment status is typically available within 6 days of the IPO close date. Refunds for unallotted bids are credited within 2 working days post allotment.
You may also review the complete IPO allotment process explanation to understand lottery mechanics and refund timelines.
Risk Disclosure
Investments in IPOs are subject to market risks. Grey Market Premium (GMP) is unofficial and indicative only — it does not guarantee listing price or returns. Read the official offer documents (DRHP / RHP) and consult a SEBI-registered financial advisor before applying. IPOCraft does not provide investment advice.
Research Before You Apply