VMS TMT Ltd IPO GMP Today Live : Check Issue Size, Price Trend, Subscription & Apply or Skip?

Summary 
- VMS TMT Ltd IPO live from today 17th Sept 2025, available to subscribe.
- IPO comes with the Issue size of ₹148.50Cr & the company is all set to offer the investors in the price range between ₹94-99 per share.
- To bid for an IPO, last date is 19th September 2025. 

VMS TMT Ltd IPO : The Company is engaged in the manufacturing of Thermo Mechanically Treated (TMT) bars and other steel products. Now, the company has came up with an IPO for Public Subscription which starts from Today 17th Sept 2025 and will remain open till 19th Sept 2025.

The issue type of “VMS TMT Ltd IPO” is a bookbuilding IPO. The Company to raise over ₹148.50 Cr via its IPO that comprises fresh issue of ₹148.50 Cr with face value of ₹10 each per equity shares. The Company has reserved its shares for QIBs (Qualified Institutional Buyers) with having 30% & for NIIs (Non-Institutional Investors) with not having more than 20% & 50% for retail investors.

Before market opening, the IPO is showing at the GMP (Grey Market Premium) of 23%. However, It is not an official estimate and not accurately reflect the actual listing of an IPO. This Information is provided for informational purpose only and should not be relied upon for making investment decisions.

VMS TMT Ltd IPO : GMP, Key Dates, Issue Size, Price Range

VMS TMT Ltd IPO live from today 17th Sept 2025 for public subscription with having price range between ₹94-99 & remains till 19th Sept 2025. After Subscription, the company reveals the allotment status on Monday, 22nd september 2025 in ‘Kfin Technologies’ & will list for trade on NSE & BSE at wednesday 24th Sept 2025.

Before the IPO went live the GMP was showing 23% & it remains same after the market’s opening. According to market observers, the company shares are available at a premium of ₹22-24 in the grey market today. This means, VMS TMT Ltd IPO signals a strong trend in this unlisted market. It may reflect a 23% (₹22-24) gain over the issue price which is between at ₹94-99.

VMS TMT Ltd IPO : Subscription Status

Robust subscription demand we got to see within the 3 hours of launch in day 1. VMS TMT Ltd IPO gets fully subscribed with more than 3.7x times till 12:10 PM. The QIBs subscribed approximately 7x times for an IPO whereas, the NIIs subscribed more than 4.5x times for an IPO & Retail Individual Investors subscribed over more than 2.6x times for an IPO.

VMS TMT Ltd IPO : Financial Insights

Financial Insights in (Crores)

Period	30th June 2025	31 March 2025	31 March 2024	31 March 2023
Assets	449.35	412.06	284.23	227.28
Revenue	213.39	771.41	873.17	882.06
Profit After Tax	8.58	15.42	13.47	4.20
Net Worth	81.77	73.19	46.51	30.84
Reserves & Surplus	47.14	38.56	33.18	18.23
Total Borrowing	309.18	275.72	197.86	162.70

The Company reported a revenue at ₹771.41 Cr in FY25. It’s low in comparison of previous year revenue which is ₹873.17 Cr in FY24 & ₹882.06 Cr in FY23.

PAT (Profit After Tax) is increasing from previous years, which is ₹15.42 Cr in FY25 whereas, ₹13.47 Cr in FY24 and ₹4.20 Cr in FY23.

The Company’s EBITDA (Earning before Interest Tax Depreciation and Amortization) for FY25 is ₹43.53 Cr which is up from ₹41.20 in FY24 & ₹21.91 Cr in FY23.

The Company reported its net worth at ₹81.77 Cr at the end of the 1st quarter of this fiscal year.

VMS TMT Ltd IPO : Business Overview

The Company manufactures TMT bars from scrap through a continuous casting machine and rolling mill. It has an installed production capacity of 200,000 metric ons per annum and achieved a production of over, 160,000 metric tons in FY24, reflecting 80% capacity utilization. In 2014, VMS TMT also commissioned its billet manufacturing facility, further strengthening backward integration.

For Distribution, VMS TMT relies on a strong dealer network comprising 3 distributors and 227 dealers across Gujarat, with a focus on Tier 2 & Tier 3 cities. The Company employs advanced automation technologies at its facility and has also initiated steps to setup a 15 MW Solar Power Plant for captive consumption. With over 98% of its revenue generated from Gujarat, VMS TMT has established itself as a key regional steel manufacturer, supplying high strength TMT bars to retail and Institutional customers.

VMS TMT Ltd IPO : Know before Investing

Strength :

1. Net Profit grew sharply from ₹4.2 Cr in FY23 to ₹14.74 Cr in FY25.
2. Debt to Equity ratio increase from 5.28x in FY23 to 3.78x in Q1 FY25. Repayment from IPO money will cut debt further.
3. Strong distribution in Gujarat with 3 distributors and 227 dealers with integrated logistics.
4. The new continuous casting machine helps save costs and reduces dependency on vendors.

Risks :

1. Almost aall sales are in Gujarat. Any slowdown in the state can hit revenues badly.
2. Revenue dropped from ₹882 Cr in FY23 to ₹770 Cr in FY25.
3. Capacity utilization fell from 80.9% in FY23 to 63% in FY25, Showing demand or execution challenges.
4. The company reported negative operating cash flows in certain fiscal periods, which could pressure liquidity.

VMS TMT Ltd IPO : Should you Apply or Skip?

After vewing the Strengths & Risks part – High debt, brand dependence, negative cash flows can’t be ignored. While GMP of the Company indicates good near term listing gains.

For Public Investors, this IPO for a short-term listing Opportunity rather than a long term wealth creator.