About VMS TMT:
The company manufactures Thermo Mechanically Treated Bars (“TMT Bars”) at its facility in Bhayla Village, Ahmedabad, Gujarat, and operates mainly in Gujarat, contributing over 96% of its revenue. It sells TMT Bars through a non-exclusive network of 3 distributors and 227 dealers as of July 31, 2025, and also generates income from allied products like billets and scrap. Serving retail and institutional customers, it markets TMT Bars under the “Kamdhenu Brand” within Gujarat, excluding Saurashtra and Kutch, through a licensing agreement with Kamdhenu Limited.
About the Industry in which VMS TMT operates:
India’s domestic consumption of TMT bars has been steadily increasing, supported by strong growth in the construction and infrastructure sectors. Consumption rose from approximately 41.6 million tons in FY 2021 to an estimated 62.5 million tons by FY 2025, reflecting a CAGR of around 10.7%. This growth highlights the essential role of TMT bars in supporting large infrastructure projects, rapid urbanization, and expansion in residential and commercial real estate. Domestic demand is expected to further rise due to government initiatives aimed at improving the country’s infrastructure.
| Important Information and Timelines of the IPO of VMS TMT: | |
|---|---|
| Open Date | 17 September 2025 |
| Close Date | 19 September 2025 |
| Total Issue Size – Number of Shares | 15000000 |
| Minimum Bid Price | 94 |
| Maximum Bid Price | 99 |
| Lot Size | 150 |
| Basis of Allotment | 22 September 2025 |
| Initiation of Refunds and Credit of Shares to Demat | 23 September 2025 |
| Listing Date | 24 September 2025 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of VMS TMT:
| Category | Lots | Shares | Amount (in â‚ą) |
|---|---|---|---|
| Retail – Minimum | 1 | 150 | 14850 |
| Retail – Maximum | 13 | 1950 | 193050 |
| sHNI – Minimum | 14 | 2100 | 207900 |
| sHNI – Maximum | 67 | 10050 | 994950 |
| bHNI – Minimum | 68 | 10200 | 1009800 |
Objective of the IPO of VMS TMT:
The Net Proceeds are proposed to be used by our Company in accordance with the details set forth below:
-
Repayment or prepayment, in full or in part, of certain borrowings availed by the company. {Estimated Amount (11,500) in Lakhs}
-
General corporate purposes.
Financials of VMS TMT:
| Particulars | Three months ended June 30, 2025 | Year ended March 31, 2025 | Year ended March 31, 2024 | Year ended March 31, 2023 |
|---|---|---|---|---|
| Share Capital (â‚ą million) | 3,463.12 | 3,463.12 | 1,333.71 | 1,261.29 |
| Net Worth (â‚ą million) | 8,177.47 | 7,319.00 | 4,651.27 | 3,083.77 |
| Revenue from operations (â‚ą million) | 21,225.92 | 77,019.10 | 87,295.77 | 88,201.35 |
| PAT (â‚ą million) | 857.64 | 1,473.70 | 1,346.84 | 419.53 |
| Earnings Per Share – Basic & Diluted (₹) | 2.48 | 4.29 | 4.01 | 1.39 |
| NAV per Equity Share (â‚ą) | 23.61 | 13.32 | 13.82 | 9.36 |
| Total Borrowings (â‚ą million) | 30,918.17 | 27,571.56 | 19,786.00 | 16,269.68 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for VMS TMT. You will receive a UPI mandate after 10:00 AM on 17 September 2025.
###1. How to apply for the IPO of VMS TMT on Dhan?
You can apply for the IPO of VMS TMT from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of VMS TMT be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 23 September 2025. However, you will be able to see the shares of VMS TMT on Dhan before the market starts on the listing date which is 24 September 2025.