Introduction

The VMS TMT Ltd IPO is one of the much-anticipated mainboard IPOs of 2025. Opening for subscription on September 17, 2025, this issue is gaining attention among retail investors due to its competitive pricing, sectoral growth potential, and strong regional presence. The company operates in the steel industry, manufacturing Thermo Mechanically Treated (TMT) bars that are widely used in construction, infrastructure, and industrial projects.

For investors, this IPO provides exposure to India’s steel demand growth, fueled by rapid infrastructure expansion and housing development. In this article, we cover VMS TMT IPO details, price band, lot size, GMP, subscription status, allotment, listing, review, and expert analysis in-depth.

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📊 VMS TMT IPO Details at a Glance

Particular	Details
Company Name	VMS TMT Ltd
Industry	Steel / TMT Bars
IPO Type	Fresh Issue
Issue Size	₹148.50 crore
Shares Offered	1.50 crore
Face Value	₹10 per share
Price Band	₹94 – ₹99
Lot Size	150 shares
Minimum Investment	~₹14,850
IPO Open Date	September 17, 2025
IPO Close Date	September 19, 2025
Allotment Date	September 22, 2025
Refunds/Unblocking	September 23, 2025
Listing Date	September 24, 2025
Exchanges	NSE, BSE

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🏢 About VMS TMT Ltd

Business Overview

VMS TMT Ltd is engaged in the production and sale of Thermo Mechanically Treated (TMT) bars, a vital raw material for construction and infrastructure projects. With India’s infrastructure boom, the demand for high-quality TMT bars is expected to rise significantly, positioning VMS TMT Ltd in a favorable growth trajectory.

The company has a strong presence in Gujarat with a well-established network of distributors and dealers. To strengthen its brand visibility, VMS TMT sells under the “Kamdhenu” brand through a non-exclusive licensing agreement. This association provides brand credibility and enhances trust among buyers.

Industry Outlook

• India’s steel demand is projected to grow at 6-7% CAGR over the next five years.
• Government initiatives like Smart Cities Mission, Bharatmala, and affordable housing projects are driving demand for construction-grade steel.
• Rising urbanization and infrastructure projects ensure long-term demand stability.

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💰 VMS TMT IPO Price Band and Lot Size

The company has set the price band at ₹94–₹99 per share with a face value of ₹10. Investors can bid in lots of 150 shares, which means a minimum investment of approximately ₹14,850 at the upper price band.

This pricing makes the IPO accessible to retail investors, while still offering institutional investors adequate participation.

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📅 VMS TMT IPO Dates and Timeline

Event	Date
IPO Open Date	September 17, 2025
IPO Close Date	September 19, 2025
Allotment Finalization	September 22, 2025
Refunds Initiation	September 23, 2025
Shares Credited to Demat	September 23, 2025
Listing Date	September 24, 2025

This timeline gives clarity to investors about fund lock-in and expected listing.

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📈 VMS TMT IPO Financials

• Total Borrowings (FY25): ₹252–262 crore
• Use of IPO Proceeds:
  • 77.4% → Repayment/prepayment of borrowings
  • 22.6% → General corporate purposes
• Earnings Per Share (EPS):
  • At ₹94: P/E ~21.91×
  • At ₹99: P/E ~23.08×
• Industry P/E Range: 18×–24×

Interpretation: The IPO valuation is in line with industry peers, making it neither overpriced nor heavily discounted.

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📊 VMS TMT IPO Reservation Details

Investor Category	Shares Reserved	% of Issue
Retail (RII)	75,00,000	50%
HNI / NII	30,00,000	20%
QIB	18,00,000	12%
Anchor Investors	27,00,000	18%

With 50% allocation reserved for retail investors, this IPO is retail-friendly and increases chances of allotment.

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⚖️ Strengths and Risks of VMS TMT IPO

✅ Strengths

1. Strong demand outlook for TMT bars.
2. Association with Kamdhenu brand.
3. Large distribution network in Gujarat.
4. IPO proceeds aimed at debt reduction, strengthening balance sheet.
5. Positioned to benefit from India’s infrastructure growth story.

⚠️ Risks

1. Steel is a cyclical industry, highly dependent on commodity price fluctuations.
2. Heavy reliance on debt, though IPO will reduce leverage.
3. Competition from established steel giants like Tata Steel, JSW Steel, and SAIL.
4. Currently, regional concentration in Gujarat.

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📊 Grey Market Premium (GMP) for VMS TMT IPO

The VMS TMT IPO GMP (Grey Market Premium) has indicated moderate listing gains as of the pre-subscription phase. While exact premiums fluctuate daily, early market trends show a positive sentiment among retail participants.

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🎯 Expert Review – Should You Apply?

• Short-Term View: Investors may see moderate listing gains, depending on subscription demand.
• Long-Term View: Good bet on India’s infrastructure growth, but cyclical risks exist.
• Overall Verdict: ✅ Apply with Caution – Better for Long-Term Investors.

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❓ FAQs on VMS TMT IPO

Q1. What is the VMS TMT IPO price band?
👉 ₹94–₹99 per share.

Q2. What is the lot size for VMS TMT IPO?
👉 150 shares per lot, minimum investment ~₹14,850.

Q3. When is VMS TMT IPO listing date?
👉 September 24, 2025.

Q4. How will IPO proceeds be used?
👉 77.4% for debt repayment, 22.6% for general corporate purposes.

Q5. Is VMS TMT IPO good for retail investors?
👉 Yes, 50% quota reserved, good for long-term investment.

🏁 Conclusion – VMS TMT Ltd IPO Review

The VMS TMT Ltd IPO offers investors an opportunity to participate in India’s growing steel and infrastructure sector. With a price band of ₹94–₹99, a retail-friendly allocation of 50%, and a focus on debt reduction through IPO proceeds, the company is aiming to strengthen its financial position while capitalizing on rising demand for TMT bars.

For short-term investors, the IPO may provide moderate listing gains depending on subscription momentum and grey market trends. For long-term investors, VMS TMT Ltd holds potential due to its Kamdhenu brand association, regional dominance in Gujarat, and expansion prospects, though risks from debt dependency and steel price volatility remain.

👉 Final Verdict: The VMS TMT IPO is suitable for long-term investors seeking exposure to India’s infrastructure growth, while short-term investors should apply selectively, keeping an eye on subscription numbers and GMP trends.

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Subscription

Investor	17 Sep 2025	18 Sep 2025	19 Sep 2025
Anchor
QIB
Non-Institutional
BNII
SNII
Retail
Total

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How to Check IPO Allotment Status:

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📌 Stock Market Disclaimer

• Disclaimer: This post is for informational and educational purposes only and does not constitute financial advice or a recommendation to buy/sell any stock or share. Investing in the stock market involves risk. Past performance is not indicative of future results. Always conduct your own research or consult a licensed financial advisor before making investment decisions.
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• ⚠️ IPO (Initial Public Offerings)
• IPO details, issue size, subscription data, and allotment status shared here are based on publicly available information from company filings, stock exchanges, and merchant bankers.
• Investing in IPOs carries risks including listing volatility, business uncertainties, and sector performance dependency.
• Neither acceptance of applications nor allotment guarantees profits. Investors should evaluate their risk appetite before subscribing.
• ⚠️ GMP (Grey Market Premium)
• Grey Market Premium (GMP) is an unofficial and unregulated indicator of expected IPO listing price.
• GMP data is collected from market observers and informal trading circles; it does not have any legal or SEBI recognition.
• GMP values are highly speculative and may differ significantly from actual listing prices. Investors should not rely solely on GMP while taking investment decisions.
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by Mirae Asset (m,Stock)