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VMS TMT Listing Price
| Exchange | Listing Price | Gain/Loss | % |
|---|---|---|---|
| NSE | ₹104.90 | +₹5.90 | +5.96% |
| BSE | ₹105.00 | +₹6.00 | +6.06% |
VMS TMT Subscription
Last updated on 19-Sep-2025 18:47:07
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1800000 | 217444650 | 120.8 |
| HNIs | 3000000 | 681283200 | 227.09 |
| HNIs 10+ | 1999500 | 487692900 | 243.91 |
| HNIs 2+ | 1000500 | 193590300 | 193.49 |
| Retail | 7500000 | 359143350 | 47.89 |
| Total | 12300000 | 1257871200 | 102.27 |
Application-Wise Breakup (Approx. no. of Apps) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 952 | 47208 | 49.59 |
| HNIs (2-10L) | 476 | 89303 | 187.61 |
| Retail | 50000 | 2001081 | 40.02 |
| Total Applications: 2137592 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 17.82 | 2152.7 | 120.8 |
| FIIs | - | 272.27 | - |
| DIIs | - | 962.89 | - |
| Mutual funds | - | 5.07 | - |
| Others | - | 912.47 | - |
| HNIs | 29.7 | 6744.7 | 227.09 |
| HNIs 10+ | 19.8 | 4828.16 | 243.91 |
| HNIs 2+ | 9.9 | 1916.54 | 193.49 |
| Retail | 74.25 | 3555.52 | 47.89 |
| Total | 121.77 | 12452.92 | 102.27 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹16.1 | @8% ₹18.3 | @9% ₹20.6 | @10% ₹22.9 | @11% ₹25.2 | @12% ₹27.5 |
VMS TMT Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 150 | 14850 | 50000 |
| sHNI | 14 | 2100 | 207900 | 476 |
| bHNI | 68 | 10200 | 1009800 | 952 |
VMS TMT Reservation
| Category | Shares Offered | % |
|---|---|---|
| Anchor | 2700000 | 18% |
| QIB | 1800000 | 12% |
| HNI | 3000000 | 20% |
| Retail | 7500000 | 50% |
| Total | 15000000 | 100% |
VMS TMT About
IPO Details
| Issue Size | 1,50,00,000 shares (aggregating up to ₹148.5 Cr) |
| Fresh Issue | 1,50,00,000 shares (aggregating up to ₹148.5 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 3,46,31,210 shares |
| Share Holding Post Issue | 4,96,31,210 shares |
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 |
Key Performance Indicator (KPI)
| KPI | Jun-25 | Mar-25 | Mar-24 |
|---|---|---|---|
| ROCE | 4.52% | 12.79% | 16.70% |
| EPS (basic) | 2.48 | 4.29 | 4.01 |
| P/E Pre IPO | 22.24 | ||
| P/E Post IPO | 14.32 |
Company Financials (in ₹Crores)
| Period | Jun 2025 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|
| Assets | 449.35 | 412.06 | 284.23 | 227.28 |
| Income | 213.39 | 771.41 | 873.17 | 882.06 |
| Profit | 8.58 | 15.42 | 13.47 | 4.20 |
| EBITDA | 19.48 | 45.53 | 41.20 | 21.91 |
| NET Worth | 81.77 | 73.19 | 46.51 | 30.84 |
| Reserves | 47.14 | 38.56 | 33.18 | 18.23 |
| Borrowing | 309.18 | 275.72 | 197.86 | 162.70 |
Peer Comparison (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| VMS TMT Limited | - | - | 10.00 |
| Kamdhenu Limited | 13.5 | 29.43 | 10.00 |
| Vraj Iron and steel limited | 11.77 | 159.45 | 10.00 |
| BMW Industries Limited | 16.57 | 46.88 | 1.00 |
| Electrotherm (India) Limited | 2.37 | 797.35 | 10.00 |
Source: RHP, Net Asset Value per Equity Share is calculated by dividing net worth by the number of equity shares outstanding after bonus adjustment as of June 22, 2024, and P/E Ratio is the closing market price on August 11, 2025, divided by the EPS of March 31, 2025.
Peer Comparison (Financial Performance)
| Company | NAV/Share (₹) | RoNW (%) | EPS (Diluted) (₹) |
|---|---|---|---|
| VMS TMT Limited | 13.32 | 20.14 | 4.29 |
| Kamdhenu Limited | 11.66 | 18.82 | 2.18 |
| Vraj Iron and steel limited | 116.53 | 10.88 | 13.55 |
| BMW Industries Limited | 30.84 | 9.16 | 2.83 |
| Electrotherm (India) Limited | -89.01 | -377.85 | 336.42 |
About Company
Strength
Backward Integration Advantage: Improved financial performance driven by the implementation of a Continuous Casting Machine (CCM) division, enhancing cost-efficiency and operational control.
Robust Market Presence: Strong distribution network (3 distributors, 227 dealers) and long-term customer relationships position the company well in the growing steel bars and rods industry.
Established Infrastructure: Well-located manufacturing facility with integrated operations and efficient logistics support ensures timely delivery and scalability.
Weakness
High Dependence on Kamdhenu Brand: Nearly all TMT bar sales (100%) are under the Kamdhenu NXT brand. The retail license agreement is non-exclusive and includes restrictions; termination could severely disrupt operations and dealer retention.
Raw Material Volatility: Raw material costs form a significant part of total expenses (up to 96.63%). Dependence on third-party suppliers and price fluctuations may adversely affect profitability and production continuity.
Impact of Royalty Payments: Ongoing royalty payments to Kamdhenu (up to ₹654.83 lakhs annually) affect margins. Any increase in royalty or changes in agreement terms could negatively impact financial performance.
VMS TMT Latest Announcements
| Date | Subject | Attachment Text |
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VMS TMT Financial Results
VMS TMT Lead Manager(s)
VMS TMT 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/
VMS TMT Registrar
VMS TMT Reviewers
| Reviewer | Recommendation | File |
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