VMS TMT Ltd. is launching its Mainboard IPO to raise funds for debt repayment and general corporate purposes.
The IPO opens on September 17, 2025 and closes on September 19, 2025. Shares are planned to be listed on BSE and NSE.
Key IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | September 17, 2025 |
| IPO Close Date | September 19, 2025 |
| Listing Date | September 24, 2025 |
| Face Value | ₹10 per equity share |
| Price Band | ₹94 to ₹99 per share |
| Issue Size | Approx. ₹148.50 Crores |
| Fresh Issue | Approx. ₹148.50 Crores |
| Offer for Sale | – |
| Issue Type | Book Built Issue |
| IPO Listing | BSE, NSE |
| Retail Quota | Up to 50% |
| QIB Quota | Up to 30% |
| NII (HNI) Quota | Up to 20% |
Market Lot Information
| Category | Lot Size | Shares | Amount (₹) |
|---|---|---|---|
| Retail Minimum | 1 | 150 | 14,850 |
| Retail Maximum | 13 | 1,950 | 1,93,050 |
| S-HNI Minimum | 14 | 2,100 | 2,07,900 |
| B-HNI Minimum | 68 | 10,200 | 10,09,800 |
Important IPO Dates
| Event | Date |
|---|---|
| IPO Opening | September 17, 2025 |
| IPO Closing | September 19, 2025 |
| Basis of Allotment | September 22, 2025 |
| Refund Initiation | September 23, 2025 |
| Demat Credit | September 23, 2025 |
| Listing Date | September 24, 2025 |
Promoters
- Varun Manojkumar Jain
- Rishabh Sunil Singhi
- Manojkumar Jain
- Sangeeta Jain
About the Company
VMS TMT Ltd, founded in 2013, manufactures Thermo Mechanically Treated (TMT) Bars with an installed capacity of 200,000 metric tonnes per year. The company sells products under the “Kamdhenu NXT” brand via licensing and most revenues are from Gujarat. VMS is planning a 15 MW solar plant to reduce energy costs and focuses on sustainability, environment, quality, health, and safety. The non-exclusive distribution network includes 3 distributors and 227 dealers. The promoters have 30+ years of steel industry expertise.
Financial Performance
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | PAT (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2023 | 882.06 | 876.51 | 4.20 | 227.28 |
| 2024 | 873.17 | 853.87 | 13.47 | 284.23 |
| 2025 | 771.41 | 751.32 | 15.42 | 412.06 |
| June 2025 | 213.39 | 201.91 | 8.58 | 449.35 |
Key Financial Ratios (FY2025)
| KPI | Value |
|---|---|
| ROE | 20.14% |
| ROCE | 12.79% |
| EBITDA Margin | 5.91% |
| PAT Margin | 1.91% |
| Debt to Equity Ratio | 6.06 |
| EPS (Basic) | ₹4.29 |
| P/E Ratio | N/A |
| RoNW | 20.14% |
| Net Asset Value (NAV) | ₹13.32 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW (%) | NAV | Income |
|---|---|---|---|---|---|
| Kamdhenu Limited | 2.18 | 13.50 | 18.82 | 11.66 | 757.95 Cr. |
| Vraj Iron and Steel Limited | 13.55 | 11.77 | 10.88 | 116.53 | 478.86 Cr. |
| BMW Industries Limited | 2.83 | 16.57 | 9.16 | 30.84 | 566.43 Cr. |
| Electrotherm (India) Limited | 336.42 | 2.37 | (377.85) | (89.01) | 4,122.92 Cr. |
Purpose of the IPO
- Repayment/prepayment of borrowings
- General Corporate Purpose
Registrar & Contact Details
Registrar:
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: vtl.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Lead Manager:
Arihant Capital Markets Ltd.
Company Address:
VMS TMT Ltd.
Survey No 214 Bhayla Village, Near Water Tank Bavla, Ahmedabad, Gujarat, 382220
Phone: +91 63575 85711
Email: compliance@vmstmt.com
Website: http://www.vmstmt.com/