The VMS TMT IPO was a book-built issue comprising a fresh issue of 1.50 crore shares aggregating up to ₹148.50 crore, open for subscription from September 17 to September 19, 2025. The IPO price band was set at ₹94 to ₹99 per share, with a lot size of 150 shares, making the minimum investment for retail investors ₹14,850 and for HNIs ranging from ₹2,07,900 to ₹10,09,800, depending on the lot size. The allotment for the IPO is expected on September 22, 2025, with listing on BSE and NSE tentatively scheduled for September 24, 2025.
The VMS TMT IPO was oversubscribed 101.87 times on September 19, 2025 (Day 3). The issue saw 47.30 times subscription from retail investors, 120.80 times from QIBs, and 226.92 times from NIIs.
VMS TMT ₹148.50 crore IPO, priced at ₹94 to ₹99 per share, was oversubscribed 101.87 times, with the retail segment subscribed 47.30 times, the QIB segment 120.80 times, and the NII segment 226.92 times. It is a fresh issue of 1.50 crore shares, with bidding conducted from September 17 to September 19, 2025.
The table below breaks down the VMS TMT share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Categories | Shares Offered |
| QIB Shares Offered | 18,00,000 (0.00%) |
| NII (HNI) Shares Offered | 24.39% (24.39%) |
| Retail Investors | 60.98% (60.98%) |
| Total Shares Offered | 100.00% (100.00%) |
Data Source: BSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 16.79 |
| Non-Institutional Investors | 110.24 |
| Retail Individual Investors | 71.39 |
| Total | 64.13 |
Note: The subscription details are as of September 12, 2025
Incorporated in 2013, VMS TMT Limited specialises in the manufacturing of Thermo Mechanically Treated (TMT) Bars and also trades in scrap and binding wires, catering primarily to Gujarat and other states. The company’s manufacturing facility is strategically situated in Bhayla Village, near Bavla in Ahmedabad district, Gujarat, enabling efficient distribution of its products.
As of July 31, 2025, VMS TMT operates through a non-exclusive distribution network comprising 3 distributors and 227 dealers, ensuring its products reach customers across Gujarat and beyond. In addition, the company has a retail license agreement with Kamdhenu Limited, signed on November 7, 2022, which allows it to market TMT Bars under the brand name ‘Kamdhenu NXT’ within Gujarat. Supported by a professional management team and a workforce of 230 permanent employees, VMS TMT has concentrated its sales efforts on Tier II and Tier III cities, with a substantial portion of revenue coming from Gujarat over the last three fiscal years—98.78% in FY2024, 98.43% in FY2023, and 99.19% in FY2022.
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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Sep 19, 2025, 10:27 PM IST
Kusum Kumari
Kusum Kumari is a Content Writer with 4 years of experience in simplifying financial market concepts. Currently crafting insightful content at Angel One, She specialise in breaking down complex topics into easy-to-understand pieces, blending expertise in market fundamentals and technical analysis.
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