Get App
VMS TMT IPO is a bookbuilt issue of Rs 148.50 crore. This issue is entirely a fresh issue of 1.50 crore shares with no offer for sale.
The IPO opens for subscription on September 17, 2025, and closes on September 19, 2025. The allotment is expected to be finalized on Monday, September 22, 2025. The price band for the IPO is set at ₹94 to ₹99 per share, and the minimum lot size for an application is 150 shares.
Company Summary
Incorporated in 2013, VMS TMT Limited is primarily engaged in the manufacturing of Thermo Mechanically Treated Bars (TMT Bars). The company also deals in scrap and binding wires, which are sold within Gujarat and other states.
The company’s manufacturing facility is strategically located in Bhayla Village, near Bavla in Ahmedabad district, Gujarat, allowing easy distribution of products.
Distribution Network:
VMS TMT Limited operates through a distribution network on a non-exclusive basis. As of July 31, 2025, the company has:
- 3 distributors
- 227 dealers
This network enables the company to efficiently supply its products to customers across Gujarat and other states.
Retail License Agreement:
On November 7, 2022, VMS TMT Limited entered into a retail license agreement with Kamdhenu Limited. This agreement allows the company to market its TMT Bars under the brand name ‘Kamdhenu NXT’ on mutually agreed terms within the State of Gujarat.
Workforce:
The company is supported by an experienced and professional management team along with a workforce of 230 permanent employees as of July 31, 2025.
Revenue Focus:
The company has primarily focused its sales efforts on Tier II and Tier III cities. Over the last three fiscal years, the company has generated a significant portion of its revenue from Gujarat:
- Fiscal 2024: 98.78% of revenue from Gujarat
- Fiscal 2023: 98.43% of revenue from Gujarat
- Fiscal 2022: 99.19% of revenue from Gujarat
Company Financials
| Period Ended | 30 June 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 449.35 | 412.06 | 284.23 | 227.28 |
| Total Income | 213.39 | 771.41 | 873.17 | 882.06 |
| Profit After Tax | 8.58 | 15.42 | 13.47 | 4.2 |
| EBITDA | 19.48 | 45.53 | 41.2 | 21.91 |
| Net Worth | 81.77 | 73.19 | 46.51 | 30.84 |
| Reserves and Surplus | 47.14 | 38.56 | 33.18 | 18.23 |
| Total Borrowing | 309.18 | 275.72 | 197.86 | 162.7 |
| Amount in ₹ Crore | ||||
Objectives of IPO
- Repayment/ prepayment, in full or part, of all or a portion of certain borrowings availed by the Company
- General corporate purposes
Promoters of the company
Varun Manojkumar Jain, Rishabh Sunil Singhi, Manojkumar Jain, and Sangeeta Jain are the company promoters.
IPO Details
| IPO Date | September 17, 2025 to September 19, 2025 |
| Listing Date | September 24, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹94 to ₹99 per share |
| Lot size | 150 shares |
| Total Issue size | 1,50,00,000 shares (aggregating upto ₹148.50 Cr ) |
| Issue type | Bookbuilding IPO |
| Listing at | NSE, BSE |
| Share Holding Pre Issue | 3,46,31,210 shares |
| Share Holding Post Issue | 4,96,31,210 shares |
Lot Allocation Details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 150 | ₹14,850.00 |
| Retail (Max) | 13 | 1,950 | ₹1,93,050.00 |
| S-HNI (Min) | 14 | 2,100 | ₹2,07,900.00 |
| S-HNI (Max) | 67 | 10,050 | ₹9,94,950.00 |
| B-HNI (Min) | 68 | 10,200 | ₹10,09,800.00 |
Allotment Schedule
| Basis of Allotment | Mon, 22 Sep, 2025 |
| Initiation of Refunds | Tue, 23 Sep, 2025 |
| Credit of Shares to Demat | Tue, 23 Sep, 2025 |
| Tentative Listing Date | Wed, 24 Sep, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 19, 2025 |
IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not more than 30% of the Issue |
Retail Shares Offered | Not less than 50% of the Issue |
NII Shares Offered | Not less than 20% of the Issue |
To check allotment, click here
Download NOVO App!
Invest in Zero-commission Direct Mutual funds, IPO, Sovereign Gold bonds, Government bills, and Corporate bonds.
