Vraj Iron and Steel IPO
Open MainLineCurrent GMP
₹50 (+24.15%)
Price Band
₹ 195 – 207
Lot Size
72
Issue Size
₹171 Cr
Minimum Investment
₹14904 (72 Shares)
Listing Date
03 July 2024
Subscription
119.04x
About the Company
Incorporated in 2004, Vraj Iron and Steel is engaged in the manufacturing of Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj. The company’s product offerings such as Sponge Iron, TMT Bar, MS Billets, and by-products Dolochar, Pellet, and Pig Iron cater to a mix of customers that consist of industrial customers and end-users.
It operates through two manufacturing plants located at Raipur and Bilaspur in Chhattisgarh spread across 52.93 acres. As of December 31, 2023, the aggregate installed capacity of its manufacturing plants was 2,31,600 tons per annum (TPA) (comprising intermediate and final products). The manufacturing plant at Raipur also includes a captive power plant with an aggregate installed capacity of 5 MW. The company has also obtained Environment Management System Certification (EMSC) under the new standard of ISO 14001: 2015 for its Raipur Plant.
Peer Comparison
● Sarda Energy & Minerals Limited
● Godawari Power & Ispat Limited
● Shyam Metalics and Energy Limited
Promoters
- Gopal Sponge and Power Private Limited
- V. A. Transport Private Limited
- Vijay Anand Jhanwar
Promoters Holding
Holding Pre Issue
99.99%
Holding Post Issue
0.00%
Objects of the Issue
The following is how the company plans to use the Net Proceeds.
● To fund the "Expansion Project" at Bilaspur Plant in two ways
i) by repaying or prepaying borrowings obtained from HDFC Bank
ii) by funding the capital expenditure
● For general corporate purposes.
Address / Contact Info
Vraj Iron and Steel Limited
First Floor, Plot No 63 & 66, Ph No 113
Mother Teresa Ward No. 43
3, Jalvihar Colony, Raipur-492001
Phone: +91-771-4059002
Email: info@vrajtmt.in
Website: https://www.vrajtmt.in
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 26 June 2024
IPO Close Date
Friday, 28 June 2024
Basis of Allotment
Monday, 01 July 2024
Initiation of Refunds
Tuesday, 02 July 2024
Credit of Shares to Demat
Tuesday, 02 July 2024
Listing Date
Wednesday, 03 July 2024 — NSE & BSE
Important Dates
Open Date
26 June 2024
Close Date
28 June 2024
Basis Of Allotment
01 July 2024
Listing Date
03 July 2024
Financial Performance (₹ in Crores)
| Particular | 31 Dec 23 | 31 Mar 23 | 31 Mar 22 | 31 Mar 21 |
|---|---|---|---|---|
| Assets | 253.05 | 191.54 | 150.77 | 126.33 |
| Revenue | 304.81 | 517.42 | 414.38 | 290.93 |
| Profit After Tax | 44.58 | 54 | 28.7 | 10.99 |
| Net Worth | 187.5 | 140.92 | 87.14 | 57.79 |
| Reserve & Surplus | 162.78 | 135.97 | 82.19 | 52.85 |
| Total Borrowings | 49.3 | 22.98 | 42.51 | 45.78 |
EPS Pre
21.84%
EPS Post
18.02%
P/E Pre
9.48
P/E (Post Issue)
11.49x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI Information |
|---|---|
| ROE % | 23.78 |
| ROCE % | 25.34 |
| Debt / Equity | 0.27 |
| RoNW % | 38.32 |
| PbW | 2.73 |
| Pat Margin % | 3.61 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 2478259 | 30 | 0 |
| Qualified Institutions | 1652174 | 20 | 0 |
| Non-Institutional | 1239130 | 15 | 0 |
| BNII | 826087 | 10 | 819 |
| SNII | 413043 | 5 | 409 |
| Retail Investors | 2891305 | 35 | 40157 |
| Total | 8260868 | 100 | 0 |
Subscription Status ( Sun, 25 Aug 24 07:52 AM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 1753846 | 287463888 | 163.9x |
| Non-Institutional | 1315385 | 274668192 | 208.81x |
| BNII | 876924 | 179671680 | 204.89x |
| SNII | 438461 | 94996512 | 216.66x |
| Retail Investors | 3069231 | 168580440 | 54.93x |
| Total | 6138462 | 730712520 | 119.04x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 72 | 14,904.00 |
| Retail (Max) | 13 | 936 | 193,752.00 |
| S-HNI (Min) | 14 | 1,008 | 208,656.00 |
| S-HNI (Max) | 67 | 4,824 | 998,568.00 |
| B-HNI (Min) | 68 | 4,896 | 1,013,472.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- Aryaman Financial Services Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Vraj Iron and Steel IPO is a Book-building IPO worth ₹171 crores. The price band is ₹195 to 207 per share. The IPO opens on Wed, Jun 26, 2024 and closes on Fri, Jun 28, 2024. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The Vraj Iron and Steel IPO opens on Wed, Jun 26, 2024 and closes on Fri, Jun 28, 2024
Vraj Iron and Steel IPO Price Band is ₹195 to 207.
Vraj Iron and Steel IPO lot size is 72, and the minimum amount required for application is ₹14904.
The minimum investment for Vraj Iron and Steel IPO is approximately ₹14904 based on the upper price band.
To apply for the Vraj Iron and Steel IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Jun 28, 2024. After submission, funds are blocked until the basis of allotment of Vraj Iron and Steel IPO is finalised.
Vraj Iron and Steel IPO issue size is ₹171 crores.
Vraj Iron and Steel IPO allotment date is Sat, Jun 27, 2026.
The registrar for Vraj Iron and Steel IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to Vraj Iron and Steel IPO through their official website or helpline.
The Vraj Iron and Steel IPO GMP (Grey Market Premium) is ₹50 as of Wed, Jul 3, 2024. Based on the upper price band of ₹207 per share, the estimated Vraj Iron and Steel IPO listing price is ₹257, indicating a potential listing gain of approximately 31% over the issue price.