Vraj Iron and Steel IPO Details: The Vraj Iron and Steel IPO is scheduled to open on June 26, 2024, and will close on June 28, 2024. Through this IPO, Vraj Iron and Steel aims to raise approximately ₹171 crores, consisting entirely of a fresh issue worth ₹171 crores. The allocation of shares includes a 35% retail quota, a 50% quota for Qualified Institutional Buyers (QIBs), and a 15% quota for High Net-worth Individuals (HNIs).
Vraj Iron and Steel specializes in the production of Sponge Iron, M.S. Billets, and TMT bars under the Vraj brand. The company operates two manufacturing plants located in Raipur and Bilaspur, Chhattisgarh, covering a total area of 52.93 acres. As of March 31, 2023, these plants had a combined installed capacity of 231,600 tons per annum (TPA) for both intermediate and final products. Additionally, the Raipur plant features a captive power plant with an installed capacity of 5 MW.
Plans are underway to expand the capacities of both the manufacturing plants and the captive power plant. Upon completion, the total production capacity is expected to increase to 500,100 TPA, and the power plant capacity to 20 MW. These expansions are projected to be operational in the fiscal year 2024-25.
Vraj Iron and Steel’s product range includes Sponge Iron, TMT Bars, MS Billets, and by-products such as Dolochar, Pellet, and Pig Iron, serving a diverse customer base of industrial clients and end-users. The company markets its products directly and through brokers and dealers. As part of their commitment to continuous improvement, Vraj Iron and Steel has obtained the ISO 14001:2015 Environment Management System Certification for their Raipur plant.
Vraj Iron and Steel IPO Objectives:
The proceeds from the IPO will be utilised for several purposes, including:
- Expansion of Manufacturing Facilities: To meet the growing demand and enhance production capacity.
- Debt Repayment: Reducing the financial leverage to improve the balance sheet.
- Working Capital Requirements: Ensuring smooth operations and financial health.
- General Corporate Purposes: Including potential acquisitions and technology upgrades.
Vraj Iron and Steel IPO Review (Apply or Not)
- Update Soon
Vraj Iron and Steel IPO Date & Price Band Details:
| IPO Open: | June 26, 2024 |
| IPO Close: | June 28, 2024 |
| IPO Size: | Approx ₹171 Crores |
| Fresh Issue: | Approx ₹171 Crores |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹195 to ₹207 Per Share |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Vraj Iron and Steel IPO Lot Size:
The minimum market lot for the Vraj Iron and Steel IPO is 72 shares, requiring an application amount of ₹14,904. Retail investors have the option to apply for up to 13 lots, which equates to 936 shares or a total investment of ₹193,752.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 72 | ₹14,904 |
| Retail Maximum | 13 | 936 | ₹193,752 |
| S-HNI Minimum | 14 | 1,008 | ₹208,656 |
| B-HNI Minimum | 68 | 4,896 | ₹1,013,472 |
Vraj Iron and Steel IPO Timeline:
The Vraj Iron and Steel IPO is scheduled to open on June 26 and will close on June 28. The IPO allotment process will be finalized on July 1, with the IPO expected to be listed on July 3.
| IPO Open Date: | June 26, 2024 |
| IPO Close Date: | June 28, 2024 |
| Basis of Allotment: | July 1, 2024 |
| Refunds: | July 2, 2024 |
| Credit to Demat Account: | July 2, 2024 |
| IPO Listing Date: | July 3, 2024 |
Vraj Iron and Steel IPO GMP Today:
The last Grey Market Premium (GMP) for the Vraj Iron and Steel IPO is ₹40. With a price band set at ₹207.00, the estimated listing price for the IPO is ₹247. This is calculated by adding the cap price of ₹207 to the current GMP of ₹40.
Therefore, the expected percentage gain per share at the listing is approximately 19.32%.
Vraj Iron and Steel Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹290.93 | ₹276.53 | ₹10.99 |
| 2022 | ₹414.38 | ₹377.20 | ₹28.70 |
| 2023 | ₹517.42 | ₹448.43 | ₹53.10 |
| Dec 2023 | ₹304.81 | ₹249.09 | ₹44.58 |
Vraj Iron and Steel IPO Valuation – FY2023
Check Vraj Iron and Steel IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹21.84 per Equity Share |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 38.32% |
| Net Asset Value (NAV): | ₹285.00 per Equity Share |
Peer Group
- Sarda Energy and Minerals Limited
- Godawari Power and Ispat Limited
- Shyam Metalics and Energy Limited
Company Promoters
- Gopal Sponge
- Power Private Limited
- V. A. Transport Private Limited
- Vijay Anand Jhanwar
Vraj Iron and Steel IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/
Vraj Iron and Steel IPO Allotment Status Check
Check Vraj Iron and Steel IPO allotment status on Bigshare website allotment URL. Click Here
Vraj Iron and Steel IPO Lead Managers aka Merchant Bankers
- Aryaman Financial Services Limited
Company Address
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/
Vraj Iron and Steel IPO FAQs:
1. What is the IPO date for Vraj Iron and Steel?
- The IPO of Vraj Iron and Steel is scheduled to open on June 26, 2024, and will close on June 28, 2024.
2. What is the price band of the Vraj Iron and Steel IPO?
- The price band for the Vraj Iron and Steel IPO is set at ₹207 per share.
3. How much capital does Vraj Iron and Steel aim to raise through the IPO?
- Vraj Iron and Steel plans to raise approximately ₹171 crores through its IPO, which includes a fresh issue of shares.
4. What is the minimum market lot for the Vraj Iron and Steel IPO?
- The minimum market lot for the Vraj Iron and Steel IPO is 72 shares.
5. What is the application amount for retail investors in the Vraj Iron and Steel IPO?
- Retail investors can apply for up to 13 lots, which amounts to ₹193,752 based on the minimum market lot.
6. When will the allotment of Vraj Iron and Steel IPO shares be finalized?
- The allotment of shares for the Vraj Iron and Steel IPO is expected to be finalized on July 1, 2024.
7. When is the listing date for Vraj Iron and Steel IPO shares?
- Vraj Iron and Steel IPO shares are scheduled to be listed on the stock exchange on July 3, 2024.
8. What is the Grey Market Premium (GMP) for Vraj Iron and Steel IPO?
- The last reported Grey Market Premium (GMP) for Vraj Iron and Steel IPO is ₹40. This indicates a positive market sentiment ahead of the listing.
9. What are the key products manufactured by Vraj Iron and Steel?
- Vraj Iron and Steel manufactures Sponge Iron, M.S. Billets, TMT bars, and by-products such as Dolochar, Pellet, and Pig Iron.
10. Where are the manufacturing facilities of Vraj Iron and Steel located?
- Vraj Iron and Steel operates manufacturing plants in Raipur and Bilaspur, Chhattisgarh, covering a total area of 52.93 acres.
