Vraj Iron and Steel IPO
GMP, Subscription, Price, Dates & Financial Details
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…
Open Date
Wed, 26 Jun 2024
Close Date
Fri, 28 Jun 2024
Price Band
₹ 195 – 207
Lot Size
72
Issue Size
₹ 171.00 Cr
Minimum Investment
₹ 14,904 (72 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Vraj Iron and Steel IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹171.00 Crore, comprising a fresh issue of 82.61 Lakh equity shares aggregating to ₹171.00 Crore.
The Vraj Iron and Steel IPO remained open for subscription from June 26, 2024, to June 28, 2024. The basis of allotment was finalized on July 01, 2024, and the company's shares were listed on the NSE and BSE on July 03, 2024.
The company had fixed the price band at ₹195 to ₹207 per share, with a lot size of 72 shares. Retail investors were required to make a minimum investment of ₹14,904 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. Aryaman Financial Services Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Vraj Iron and Steel Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Vraj Iron and Steel IPO Timeline (Tentative)
- IPO Open Date
- Wed, 26 Jun 24
- IPO Close Date
- Fri, 28 Jun 24
- Basis of Allotment
- Mon, 01 Jul 24
- Initiation of Refunds
- Tue, 02 Jul 24
- Credit of Shares to Demat
- Tue, 02 Jul 24
- Listing Date
- Wed, 03 Jul 24 — NSE & BSE
Open Date
26 June 2024
Close Date
28 June 2024
Basis Of Allotment
01 July 2024
Listing Date
03 July 2024
IPO Subscription
Check Live Subscription →The Vraj Iron and Steel IPO has received bids for 73,07,12,520 shares against 61,38,462 shares offered, resulting in an overall subscription of 119.04x. the NII category is subscribed 208.81x, Retail Investors 54.93x, and QIBs 163.9x. Within the NII category, BNII is subscribed 204.89x, while SNII is subscribed 216.66x.
QIB
163.9x
NII
208.81x
BNII
204.89x
SNII
216.66x
RII
54.93x
Total
119.04x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 28,91,305 shares, representing 35% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 16,52,174 shares (20%), while Non-Institutional Investors (NIIs) receive 12,39,130 shares (15%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 2,478,259 | 30% |
| Qualified Institutions | 1,652,174 | 20% |
| Non-Institutional | 1,239,130 | 15% |
| BNII | 826,087 | 10% |
| SNII | 413,043 | 5% |
| Retail Investors | 2,891,305 | 35% |
| Total | 8,260,868 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Vraj Iron and Steel Limited KPI Information
| Particular | KPI Information |
|---|---|
| ROE % | 23.78 |
| ROCE % | 25.34 |
| Debt / Equity | 0.27 |
| RoNW % | 38.32 |
| PbW | 2.73 |
| Pat Margin % | 3.61 |
Peers Comparison
No Peer Comparision Available
About Vraj Iron and Steel Limited
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
Vraj Iron and Steel IPO 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%
Vraj Iron and Steel IPO Objective
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.
Vraj Iron and Steel Limited Address / Contact Details
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
Vraj Iron and Steel IPO Lot Size
The Vraj Iron and Steel IPO has a lot size of 72 shares. Retail investors require a minimum investment of ₹14,904 by applying for 1 lot (72 shares). The maximum application allowed for the retail category is 13 lots (936 shares), requiring an investment of ₹1,93,752.
| 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 |
Issue Reservation
- Anchor Investors — 30%
- QIB — 20%
- NII — 15%
- RII — 35%
Book Running Lead Managers
- Aryaman Financial Services Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Vraj Iron and Steel IPO?
Vraj Iron and Steel IPO is a Book-building IPO with a total issue size of ₹171 crore. The Vraj Iron and Steel IPO price band is ₹195 to 207 per share. The Vraj Iron and Steel IPO subscription opens on Wed, Jun 26, 2024, and closes on Fri, Jun 28, 2024. The Vraj Iron and Steel IPO will be listed on the BSE,NSE. Bigshare Services Pvt Ltd is the registrar for the Vraj Iron and Steel IPO.
When will the Vraj Iron and Steel IPO open for subscription?
The Vraj Iron and Steel IPO opens on Wed, Jun 26, 2024 and closes on Fri, Jun 28, 2024
What is Vraj Iron and Steel IPO Price Band?
Vraj Iron and Steel IPO Price Band is ₹195 to 207 per share.
What is Vraj Iron and Steel IPO Lot Size?
Vraj Iron and Steel IPO lot size is 72 shares, Retail investors need a minimum investment of ₹14904 based on the upper price band
What is the minimum investment for Vraj Iron and Steel IPO?
The minimum investment for Vraj Iron and Steel IPO is ₹14904, based on one lot of 72 shares at the upper price band of ₹207 per share.
How to apply for Vraj Iron and Steel IPO?
Investors can apply for the Vraj Iron and Steel IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jun 28, 2024. The application amount remains blocked until the Vraj Iron and Steel IPO allotment is finalized.
What is Vraj Iron and Steel IPO Issue Size?
Vraj Iron and Steel IPO issue size is ₹171 crores.
What is the Vraj Iron and Steel IPO Allotment Date?
Vraj Iron and Steel IPO allotment date is Mon, Jul 1, 2024.
Who is the Vraj Iron and Steel IPO Registrar?
The registrar for Vraj Iron and Steel IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check Vraj Iron and Steel IPO allotment status, refund processing, and other IPO-related information.
What is the Vraj Iron and Steel IPO GMP?
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 24.15% over the issue price.
Who is the Vraj Iron and Steel IPO Lead Manager?
The book-running lead managers (BRLMs) for the Vraj Iron and Steel IPO are Aryaman Financial Services Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Vraj Iron and Steel IPO Red Herring Prospectus (RHP).