VMS TMT IPO Subscription Status

The VMS TMT IPO was subscribed 8.40 times on the first day, as of 5:00 PM on September 17, 2025.

• QIB quota: 7.09x
• NII quota: 13.78x
• Retail quota: 6.56x

The company received bids for 10,33,20,900 shares against the 1,23,00,000 shares on offer on day one.

Company Overview

Founded in 2013, VMS TMT Ltd manufactures Thermo Mechanically Treated (TMT) bars. Its customers include both retail and institutional buyers across Gujarat, except the Saurashtra and Kutch regions.

• Distribution network (as of July 31, 2025): 3 distributors and 227 dealers.
• Core focus: sustainability, environment, quality, health, and safety.

Promoters:
Varun Manojkumar Jain, Rishabh Sunil Singhi, Manojkumar Jain, and Sangeeta Jain—each with 30+ years of experience in the steel industry.

The company employs around 230 permanent staff and has distinct strengths:

• Uses renewable energy to cut costs and support sustainability.
• Produces its own raw materials to lower expenses and improve supply-chain efficiency.

Financial Highlights

• Revenue: ₹771.41 crore (FY 2025) vs. ₹873.17 crore (FY 2024)
• Net Profit: ₹15.42 crore (FY 2025) vs. ₹13.47 crore (FY 2024)

Grey Market Premium (GMP)

As of September 17, 2025, the VMS TMT IPO was trading at a ₹24 premium, indicating a grey market price of ₹123 compared to the issue price of ₹99.