VMS TMT's IPO oversubscribed 100 times, lists at slight premium

Business Sep 24, 2025

VMS TMT Limited's IPO was a major hit, getting oversubscribed by over 100 times.
Shares were priced at ₹99 and the company raised ₹148.5 crore, listing at around ₹105 on both BSE and NSE—about 6% above the issue price.
Most of the funds will go toward paying off debt and general corporate needs.

Steel manufacturer saw profits rise despite lower revenue

Founded in 2013 near Ahmedabad, VMS TMT makes steel bars used in construction, selling under its own name in Gujarat.
Despite revenue dipping to ₹770 crore this year, profits rose to ₹15.41 crore from ₹13.46 crore last year—a sign of stronger margins.

Strong demand ahead of listing

The IPO is expected to boost its visibility in India's public markets.
With such strong demand—even before listing—VMS TMT seems set for bigger things ahead.