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Explore VMS TMT IPO details, including price band, allotment status, GMP, strengths, weaknesses, and financial analysis.
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VMSTMTIPO:PriceBand,Analysis, Allotment,andGMP • ExploreVMSTMTIPOdetails,includingpriceband,allotmentstatus,GMP,strengths, weaknesses,andfinancialanalysis. • TableofContents • VMSTMTIPO–CompanyAnalysis • VMSTMTIPODetails • HiddenFactsabouttheIPO • IndustryOutlook • CompanyFinancials • TheObjectiveoftheIssue • ListedPeersofVMSTMTLtd. • EvaluationofP/ERatio • IPO’sStrengths • IPO’sWeaknesses • VMSTMTIPO GMP • IPOSummary • IPOLot Size • IPOReservation • IPOAllotmentStatus • PromotersandManagement
LeadManagers • Dividend Policy • Conclusion • FAQs • VMSTMTIPO–CompanyAnalysis • Company:VMSTMTLtd.wasincorporatedin2007. • Business:ManufacturerofTMTbarsandstructuralsteelproductsusedinconstruction andinfrastructure. • Clients:Realestatedevelopers,governmentcontractors,andretaildistributors. • Operations:StrongpresenceinGujaratandsurroundingstates. • ManufacturingCapacity:Over1.5lakhtonnesannuallywithmodernrollingmills. • VMSTMTIPODetails • IPOOpeningDate:Sep23,2025 • IPOClosingDate:Sep25,2025 • IPOAllotmentDate:Sep26, 2025 • RefundInitiation:Sep29,2025 • TentativeListingDate:Sep30,2025(BSESME) • IssueSize:Rs.48.50Cr • FreshIssue:51lakhsharesworthRs.48.50Cr • PriceBand:Rs.92–Rs.95pershare • LotSize:1200sharesperlot
Registrar:SkylineFinancialServicesPvt.Ltd. • IssueType:BookBuiltIssueSMEIPO • HiddenFactsabouttheIPO • ExpansionfundswillbeusedtosetupanewrollingmillinGujarat. • Heavydependencyonregionalmarketsmaylimitnationwidescalability. • Promotergrouphaspledgedapartoftheirshareholdingfordebtobligations. • IndustryOutlook • TheIndiansteelindustryisprojectedtogrowataCAGRof6–7%(2024–2030). • DemandforTMTbarsisdrivenbyrisingurbaninfrastructureandhousingprojects. • Government’spushonhighways,smartcities,andrenewableprojectssupports long-termdemand. • CompanyFinancials(asofMarch31) • TotalAssets:FY25–Rs.120.45Cr|FY24–Rs.95.26Cr|FY23–Rs.81.12Cr • TotalRevenue:FY25–Rs.225.18Cr|FY24–Rs.198.60Cr|FY23–Rs.176.44Cr • PAT(ProfitAfter Tax):FY25–Rs.12.40Cr|FY24–Rs.9.25Cr|FY23–Rs.6.83 Cr • NetWorth:FY25–Rs.68.12Cr|FY24–Rs.54.10Cr|FY23–Rs.42.35 Cr • Borrowings:FY25–Rs.22.35Cr|FY24–Rs.18.42Cr|FY23–Rs.15.90 Cr • TheObjectiveoftheIssue • Tofundthenewrollingmillproject.
Repayment/prepaymentofexistingborrowings. • Workingcapitalrequirements. • Generalcorporatepurposes. • ListedPeersofVMSTMTLtd. • KamdhenuLtd.–EPS:Rs.15.28|P/E:24.10x • ShyamSteelIndustries–EPS:Rs.18.42|P/E:21.45x • ElectrosteelSteelsLtd.–EPS:Rs.3.76|P/E:31.80x • EvaluationofP/ERatio • EPS(FY25):Rs.2.45 • P/ERatio:38.77x • IndustryAverageP/E:26.40x • Interpretation:TheIPOappearstobeslightlyoverpricedcomparedtopeers. • IPO’sStrengths • EstablishedbrandintheGujaratsteelmarket. • IncreasingdemandforTMTbarswithinfrastructurepush. • StrongdistributionnetworkinWesternIndia. • Consistentgrowthinrevenueandprofits. • IPO’sWeaknesses • Geographicconcentrationrisk.
Highlycompetitiveindustrywithvolatilerawmaterialcosts. • Heavyrelianceongovernmentprojectsforgrowth. • Marginssusceptibletoglobalsteelpricefluctuations. • VMSTMTIPOGMP • Asof18Sep2025,greymarketpremium(GMP)isaroundRs.12–15pershare. • Thisimpliesalistinggainexpectationof12–15%. • VMSTMTIPOSummary • IPODates:Sep23–25,2025 • FaceValue:Rs.10pershare • IssuePrice:Rs.92–Rs.95 • LotSize:1200shares • IssueSize:Rs.48.50Cr • FreshIssue:Rs.48.50 Cr • ListingAt:BSESME • VMSTMTIPOLotSize • RetailInvestors: • Minimum:1Lot(1200shares)=Rs.1,14,000 • Maximum:1Lot(1200shares)=Rs.1,14,000 • HNIInvestors:
Minimum:2Lots(2400shares)=Rs.2,28,000 • VMSTMTIPOReservation • QIB (Qualified Institutional Buyers):50% • NII(Non-InstitutionalInvestors):15% • RetailInvestors:35% • VMSTMTIPOAllotmentStatus • Investorscancheckallotmentstatusvia: • BSEWebsite–IPOAllotmentStatussection • Registrar’sofficialportal(SkylineFinancialServicesPvt.Ltd.) • PromotersandManagement • Promoters:VikrambhaiPatel,ManishbhaiShah,andSureshbhaiMehta • PromoterShareholding: • Pre-Issue:89.45% • Post-Issue:68.20% • LeadManagers • BeelineCapitalAdvisorsPvt.Ltd. • DividendPolicy
Thecompanyhasnotdeclareddividendsinthelast3years,focusingonbusiness expansion. TheVMSTMTIPOpresentsanopportunitytoinvestinIndia’sgrowingsteeldemandstory.The company’sstrongpresenceinGujarat,healthyfinancialgrowth,andexpansionplansmakeit attractive.However,riskslikegeographicdependency, competitivepressures,andrelativelyhighvaluationshouldnotbeignored.Investorswithamoderatetohighriskappetitecan considersubscribingforpotentiallong-termgains. FAQs Q1.WhenwilltheVMSTMTIPObelisted? ThetentativelistingdateisSep30,2025onBSESME. Q2.WhatistheallotmentdateforVMSTMTIPO? TheallotmentdateisSep26,2025. Q3.HowcanIapplyfortheVMSTMTIPO? InvestorscanapplythroughASBAvianetbankingorUPI-enabledbrokers. Q4.WhatisthelotsizeforVMSTMTIPO? Thelotsizeis1200sharesperlot. Q5.WhatistheVMSTMTIPOpriceband? ThepricebandisRs.92toRs.95pershare.