VMS TMT Ltd, a manufacturer of thermo-mechanically treated (TMT) bars, made a modest debut on the Indian stock markets on September 24, 2025. VMS TMT shares listed at a 6% premium, opening at ₹105 on the Bombay Stock Exchange (BSE) and ₹104.90 on the National Stock Exchange (NSE).
VMS TMT IPO saw considerable investor interest, closing with an impressive 102.26 times subscription on the final day of the share sale. Among investor categories, non-institutional investors (NIIs) were particularly active, subscribing 227.09 times their allotted quota. Qualified institutional buyers (QIBs) subscribed 120.80 times, while retail individual investors (RIIs) subscribed 47.88 times.
VMS TMT IPO Details
The IPO consisted entirely of a fresh issue of 1.50 crore equity shares, with a price band of ₹94–₹99 per share. Prior to the public issue, the company raised nearly ₹27 crore from anchor investors. Funds raised from the IPO, totaling ₹115 crore, are earmarked for debt repayment, general corporate purposes, and issue-related expenses.
About VMS TMT Ltd
Founded in 2013, VMS TMT Ltd specialises in manufacturing TMT bars and also trades in scrap and binding wires across Gujarat and other Indian states. The company offers over 1,500 product categories and operates an efficient distribution network catering to domestic markets.
The company reported a significant rise in profits in FY25, reaching ₹268 crore, up from ₹13.5 crore in FY24. While revenue moderated slightly to ₹770 crore from ₹873 crore, EBITDA margins improved sharply to nearly 39%, up from under 5% the previous year, demonstrating enhanced operational efficiency.
Market Outlook and Conclusion
VMS TMT Ltd’s IPO debut reflects steady market interest in its operations and financial performance. With its focus on quality TMT bars and an established presence in key regions, the company is positioned to benefit from growing infrastructure demand in India.
The listing provides investors with exposure to a growing manufacturing enterprise, underpinned by improved profitability and operational efficiency, signalling a modest but meaningful entry into the market.
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