VMS TMT IPO, worth ₹148.50 Cr, will open for subscription from 17–19 Sep 2025. VMS TMT IPO allotment is expected on 22 September, and shares are likely to be listed on BSE & NSE on 24 Sep. The price band is ₹94–₹99 per share. VMS TMT IPO GMP today stands at 23.23%.
VMS TMT IPO GMP Live Rates Day by Day
VMS TMT GMP today (15th Sep 2025) stands at 23, indicating ₹23 above the IPO’s upper price band of ₹99, reflecting 23.33% gain. GMP values change frequently, and we’ll keep this page updated with the latest figures.
Grey Market Premium (GMP) is the unofficial price at which an IPO trades before listing, offering an early hint of its performance. A positive GMP indicates potential gains, while a negative GMP signals a discount. However, since GMP is highly volatile, investors should not rely on it alone and must consider other factors before investing in VMS TMT IPO.
GMP figures are for news purposes only. We neither trade nor recommend trading in the grey market.
| GMP Date | IPO Price | GMP | Estimated Listing Price | Estimated Profit |
|---|---|---|---|---|
| 15-09-2025 | ₹ 99 | ₹ 23 | ₹122 (23.23%) | ₹ 3,450 |
VMS TMT IPO Details
- VMS TMT’s IPO is worth ₹148.50 Cr, which is entirely a fresh issue, and the price band is set between ₹94 to ₹99.
- VMS TMT’s IPO will open for subscription on 17 Sep 2025 and close on 19 Sep 2025. VMS TMT’s IPO allotment is likely to take place on 22 Sep 2025 and the shares are expected to be listed on BSE and NSE on 24 Sep 2025.
- VMS TMT’s promoters currently hold 96.28% of the company but after the IPO, their shareholding will come down to 67.19%.
- VMS TMT’s IPO objective is to use the IPO proceeds for the repayment or prepayment of certain borrowings amounting to ₹115 (77.4%) crore, and for general corporate purposes 33.5 crore (22.6%).
- Kfin Technologies Ltd. will be the registrar for VMS TMT's IPO.
VMS TMT IPO Dates
Here are some important dates for VMS TMT IPO.
| IPO Open Date | 17-Sep-25 |
| IPO Close Date | 19-Sep-25 |
| IPO Allotment Date | 22-Sep-25 |
| Initiation of Refunds | 23-Sep-25 |
| Demat Credits | 23-Sep-25 |
| Listing Date | 24-Sep-25 |
| Listing on | BSE, NSE |
VMS TMT IPO Reservation
For VMS TMT IPO, 50% has been reserved for retail investors.
| Investor Category | Shares Offered |
|---|---|
| QIB Investors | 30% |
| Retail Investors | 50% |
| NII (HNI) Investors | 20% |
VMS TMT IPO Lot Size
Retail investors can apply for a minimum of 1 lot, which includes 150 shares costing ₹14,850. Maximum investment allowed for retail investors is 13 lots which totals 1950 shares and costs ₹1,93,050.
| 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 Financial Performance
VMS TMT reported a PAT of ₹15.42 Cr on 31 March 2025 and in FY24 reported ₹13.47 Cr. Over the past 3 years, the company has reported positive PAT. All financial details are provided in the table below.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹Cr) | 412.06 | 284.23 | 227.28 |
| Total income (₹Cr) | 771.41 | 873.17 | 882.06 |
| PAT (₹Cr) | 15.42 | 13.47 | 4.2 |
| EBITDA (₹Cr) | 45.53 | 41.2 | 21.91 |
| Net Worth | 73.19 | 46.51 | 30.84 |
| Reserves and Surplus (₹Cr) | 38.56 | 33.18 | 18.23 |
| Total Borrowing (₹Cr) | 275.72 | 197.86 | 162.7 |
VMS TMT IPO Peer Comparison from RHP
VMS TMT IPO has the lowest EPS in compared to its peers. Higher EPS is always considered better. Below is a quick comparison of VMS TMT vs Kamdhenu.
The table below shows peer comparison from RHP data.
| Company | EPS Diluted (₹) | P/E (x) |
|---|---|---|
| VMS TMT | 4.29 | - |
| Kamdhenu | 2.18 | 13.5 |
| Vraj Iron and steel | 13.55 | 11.77 |
| BMW Industries | 2.83 | 16.57 |
| Electrotherm (India) | 336.42 | 2.37 |
VMS TMT IPO Strengths and Weaknesses
Knowing about the strengths and weaknesses of VMS TMT IPO helps you make an informed decision.
- The company has a strong annual production capacity of 200,000 MT, with solid output in FY24.
- The company earns over 98% of its revenue from Gujarat, showing clear dominance in the region.
- A partnership with Kamdhenu allows it to sell products under the popular ‘Kamdhenu NXT’ brand.
- Plans are in place to produce billets in-house, which will reduce reliance on external suppliers.
- High dependence on Gujarat makes the business vulnerable to regional economic changes.
- Reliance on third-party raw material suppliers could disrupt production.
- TMT bar price fluctuations directly affect profitability.
- The company has outstanding borrowings of ₹252.5 crore as of Sep 2024.
- Heavy dependence on the Kamdhenu brand means ending the licensing agreement could hurt its market presence.
About VMS TMT IPO
Incorporated in 2013, VMS TMT is engaged in the manufacturing of Thermo Mechanically Treated (TMT) Bars and also deals in allied products such as scrap, billets, and binding wires, which are sold within Gujarat and other states.
The company’s manufacturing facility is located in Bhayla Village, near Bavla in Ahmedabad district, Gujarat, giving it a strategic advantage for efficient distribution.
As of 31 July 2025, VMS TMT operates through a distribution network of 3 distributors and 227 dealers, supplying products to both retail and institutional clients across Gujarat (excluding Saurashtra and Kutch).
On 7 November 2022, the company entered into a retail license agreement with Kamdhenu, which allows it to market TMT Bars under the “Kamdhenu NXT” brand in Gujarat on non-exclusive terms. The company is supported by an experienced management team and a workforce of 230 permanent employees, ensuring smooth operations and growth in the competitive steel industry.
VMS TMT IPO GMP FAQs
What is VMS TMT IPO GMP Today?
VMS TMT IPO GMP today is ₹23.
What are VMS TMT IPO Expected Returns?
VMS TMT IPO Expected Returns are 23%.
When will VMS TMT IPO open and close?
VMS TMT’s IPO will open for subscription on 17 Sep 2025 and close on 19 Sep 2025.
What is the lot size for VMS TMT IPO?
Retail Investors can bid for a minimum of 1 lot, which includes 150 shares. And one lot will cost you around ₹14,850.
What is the share allotment date for VMS TMT IPO?
The allotment of shares is expected to be completed by 22 Sep 2025.
Who is the registrar of VMS TMT IPO?
Kfin Technologies is the registrar for VMS TMT’s IPO.
Is VMS TMT IPO good to buy?
VMS TMT IPO may appeal to investors due to strong operations and market presence and growing PAT over the last 3 years.
Happy investing and thank you for reading!
Disclaimer:
This website content is only for educational purposes, not investment advice. Before making any investment, it’s important to do your own research and be fully informed. Investing in the stock market includes risks, and you should carefully read the Risk Disclosure documents before proceeding. Please remember that past performance doesn’t guarantee future results, and due to market fluctuations, your investment goals may not always be achieved.
