VMS TMT Limited, a Gujarat-based manufacturer of TMT bars marketed under the Kamdhenu brand, has announced the price band for its upcoming initial public offering (IPO) at ₹94 to ₹99 per equity share. The IPO will open for subscription on Wednesday, September 17, 2025, and close on Friday, September 19, 2025. Anchor investor bidding will begin on Tuesday, September 16, 2025.
The IPO will be listed on both BSE and NSE. Arihant Capital Markets Ltd is acting as the Book Running Lead Manager (BRLM), while Kfin Technologies Ltd will serve as the Registrar for the issue. The offering consists of a fresh issue of up to 1.5 crore equity shares with a face value of ₹10 each, being offered through the book-building process.
VMS TMT Limited plans to use ₹11,500.00 lakhs from the IPO proceeds for repayment or prepayment, in full or in part, of certain borrowings. The remaining funds will be allocated for general corporate purposes and issue-related expenses.
The company operates a manufacturing facility at Bhayla Village, Ahmedabad, Gujarat, producing TMT bars. As of July 31, 2025, its distribution network includes 3 distributors and 227 dealers across the country, supported by more than 50 trucks that ensure doorstep delivery to retail customers. The company’s sales strategy is focused on Tier II and Tier III cities.
VMS TMT is backward integrated with an in-house billet production capacity of 2,16,000 MTPA and is in the process of establishing a 15 MW solar power plant for captive consumption. The company is certified with BIS, ISO 9001:2015, ISO 45001:2018, and ISO 14001:2015 standards, underscoring its commitment to quality, safety, and environmental responsibility.
For the fiscal year 2025, the company reported revenue from operations of ₹77,019.10 lakhs, with profit after tax rising from ₹1,346.84 lakhs in FY 2024 to ₹1,473.70 lakhs in FY 2025. For the three months ended June 30, 2025, the company recorded revenue from operations of ₹21,225.92 lakhs and a profit after tax of ₹857.64 lakhs.
