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VMSTMT · NSE,BSE · Iron & Steel Products
VMS TMT IPO listed on 24 Sep 2025 on NSE,BSE at ₹104.90, a gain of 5.96% over the issue price of ₹99.00. The IPO was subscribed 102.27x overall.
VMS TMT IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 17 Sep 2025 |
| IPO Close Date | 19 Sep 2025 |
| Basis of Allotment | 22 Sep 2025 |
| Initiation of Refunds | 23 Sep 2025 |
| Credit of Shares to Demat | 23 Sep 2025 |
| Listing Date | 24 Sep 2025 |
Listing day gain
+5.96%
Listed at ₹104.9 (issue ₹99)
Issue
₹99
Listing
₹104.9
Current
₹99.65
+0.66% vs issue
Day range
₹99.65 – ₹105
Issue Size
15,000,000 shares
(aggregating up to ₹148.50 Cr)
Issue Price
₹94 – ₹99
Face Value
₹10/share
Market Lot
150 shares
Retail Min Investment
₹14,850
Listing At
NSE,BSE
Sale Type
fresh issue
Fresh Issue
15,000,000 shares
(aggregating up to ₹148.5 Cr)
Offer for Sale
[.]
Issue Type
book building
Open Date
17 Sep
Close Date
19 Sep
Allotment
22 Sep
Listing
24 Sep
Last updated: 1 year ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 24 Sep 2025 Latest | ₹99 | ₹11 | ₹110 | ₹11 |
11.11%
|
12:00 AM |
| 23 Sep 2025 | ₹99 | ₹11 | ₹110 | ₹11 |
11.11%
|
12:00 AM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 24 Sep 2025
| Category | Subscribed (x) |
|---|---|
| QIB | 120.8x |
| NII | 227.09x |
| bNII (bids above ₹10L) | 243.85x |
| sNII (bids below ₹10L) | 193.59x |
| Retail Investors | 47.89x |
| Total | 102.27x |
Showing the latest subscription snapshot.
View full subscription historyVarun Manojkumar Jain, Rishabh Sunil Singhi, Manojkumar Jain and Sangeeta Jain
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 150 | ₹14,850 |
| Retail (Max) | 13 | 1,950 | ₹193,050 |
| S-HNI (Min) | 14 | 2,100 | ₹207,900 |
| S-HNI (Max) | 67 | 10,050 | ₹994,950 |
| B-HNI (Min) | 68 | 10,200 | ₹1,009,800 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| QIB Shares Offered | 4,500,000 (30.00%) |
|
•
Anchor Investor Shares Offered
|
2,700,000 (18.00%) |
|
•
QIB (Ex. Anchor) Shares Offered
|
1,800,000 (12.00%) |
| NII (HNI) Shares Offered | 3,000,000 (20.00%) |
|
•
bNII > ₹10L
|
2,000,000 (13.33%) |
|
•
sNII < ₹10L
|
1,000,000 (6.67%) |
| Retail Shares Offered | 7,500,000 (50.00%) |
| Total Shares Offered | 15,000,000 (100.00%) |
VMS TMT Limited was incorporated in 2013 and is headquartered in Ahmedabad, Gujarat. It works in the steel sector, manufacturing Thermo Mechanically Treated (TMT) bars.
The company manufactures and markets TMT bars used in construction, and also trades in scrap and binding wires, catering to customers within Gujarat and other states. Its manufacturing facility is located at Bhayla village, near Bavla in Ahmedabad district, and it distributes products through a wide, non-exclusive dealer network. The promoters are Manojkumar Jain, Varun Manojkumar Jain, Rishabh Sunil Singhi and Sangeeta Jain, who together held about 96.28% of the company before the offer.
Revenue was Rs 872.96 crore for the year ended March 2024, broadly flat from Rs 882.01 crore in the year ended March 2023, while profit after tax rose sharply to Rs 13.47 crore from Rs 4.20 crore over the same period, as per the DRHP. The IPO was a mainboard book-built issue of about Rs 141.5 crore on the NSE and BSE, structured entirely as a fresh issue of 1,50,00,000 equity shares of face value Rs 10 each, priced at Rs 94-99 per share, and it listed on 23 September 2025. Net proceeds from the fresh issue were earmarked for setting up a solar power plant in Zenta village, Tharad Taluka, Banaskantha district, Gujarat, funding long-term working capital requirements, repayment or prepayment of certain borrowings (about Rs 115 crore), and general corporate purposes.
Standalone · ₹ in Crores
| Particulars | FY Mar 2023 | FY Mar 2024 | FY Mar 2025 |
|---|---|---|---|
| Total Revenue | 882.06 | 873.17 | 213.39 |
| Profit After Tax (PAT) | 4.2 | 13.47 | 8.58 |
| EBITDA | 21.91 | 41.2 | 19.48 |
| Total Assets | 227.28 | 284.23 | 449.35 |
| Net Worth | 30.84 | 46.51 | 81.77 |
| Reserves & Surplus | 18.23 | 33.18 | 47.14 |
| Total Borrowing | 162.7 | 197.86 | 309.18 |
Revenue & Profit Trend
Key ratios per fiscal period
| Particulars | Mar 2025 |
|---|---|
| RoCE Return on Capital Employed Shows the profit earned on all the money used, shareholder funds plus loans. Matters most for factory and infrastructure heavy companies. | 12.79% |
| RoNW Return on Net Worth Shows the profit earned on the company's own net worth. Steady or rising over 3 years is a good sign. | 20.14% |
| PAT Margin Profit After Tax Margin Out of every ₹100 of sales, how much the company keeps after paying all costs, loan interest and tax. | 1.91% |
| EBITDA Margin Earnings Before Interest, Tax, Depreciation and Amortisation Margin Profit from the main business as a share of sales, before loan interest and tax. Compare it with other companies in the same industry. | 5.91% |
| Debt / Equity Debt to Equity How much the company has borrowed against what shareholders own. Above 1x means the loans are bigger than shareholder funds. | 3.77x |
| P/BV Price to Book Value Tells you if the IPO price is above what the company actually owns. 1x to 3x is usually seen as reasonable. | 7.43x |
Issue-level · at the upper price band
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS Earnings Per Share Profit the company earns on each share. Post-IPO EPS is usually lower because the issue adds new shares. | ₹4.45 | ₹6.91 |
| P/E Price to Earnings Tells you if the IPO price is fair for what the company earns. Compare it with listed companies in the same sector. | 22.24x | 14.32x |
| Market Cap Market Capitalisation What the whole company is valued at, at the upper price band. Post-IPO counts the new shares the issue creates. | ₹343 Cr | ₹495 Cr |
The basis of allotment for VMS TMT IPO was finalised on 22 Sep 2025. You can check your allotment status using your PAN number or application number on the KFin Technologies Limited portal or BSE.
The VMS TMT IPO is expected to open in Sep 2025, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for VMS TMT IPO is ₹94.00 - ₹99.00 per share.
As per market sources, VMS TMT IPO GMP is currently ₹11.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for VMS TMT IPO stands at 102.27x overall.
The listing date for VMS TMT IPO is 24 Sep 2025.
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