VMS TMT IPO to open on September 17
VMS TMT is launching its IPO from September 17-19, aiming to raise funds by issuing 1.5 crore new shares (₹10 face value each).
Shares will be allotted by September 22, and the company plans to list on BSE and NSE on September 24.
Steel manufacturer Kamdhenu brand's parent company
Headquartered in Gujarat, VMS TMT makes thermo mechanically treated steel bars under the Kamdhenu brand, mainly serving local markets from its Ahmedabad plant.
For FY24-25, revenue dipped 11.8% to ₹770.2 crore, but net profit grew by 14.5% to ₹15.4 crore.
Fresh issue of shares; no book building process
The IPO comprises entirely fresh shares—50% is set aside for retail investors, with the rest split between institutional and non-institutional buyers.
Arihant Capital Markets is managing the issue; the price band will be announced soon.
Of the funds raised, ₹115 crore will go toward paying off debt (which stood at ₹261.7 crore as of June 2025), with the rest for general corporate needs.