The Vraj Iron and Steel IPO date has been set, with the IPO scheduled to open on June 26, 2024, and close on June 28, 2024. This IPO aims to raise approximately ₹171 crores. The entire amount is attributed to a fresh issue, while the offer for sale will include up to [.] equity shares priced at ₹10 each. The allocation for the IPO is divided as follows: 35% for retail investors, 50% for Qualified Institutional Buyers (QIB), and 15% for High Net-worth Individuals (HNI).
Vraj Iron and Steel Company Overview
Vraj Iron and Steel specializes in manufacturing Sponge Iron, M.S. Billets, and TMT bars under the Vraj brand. The company operates two manufacturing plants located in Raipur and Bilaspur, Chhattisgarh, spanning 52.93 acres. As of March 31, 2023, these plants have a combined installed capacity of 2,31,600 tons per annum (TPA) for both intermediate and final products. Additionally, the Raipur plant includes a captive power plant with an installed capacity of 5 MW.
To meet growing demand, Vraj Iron and Steel is in the process of expanding the capacities of its existing manufacturing plants and captive power plant. This expansion is expected to increase the overall capacity from 2,31,600 TPA to 5,00,100 TPA and the power plant’s capacity from 5 MW to 20 MW. These expansions are anticipated to be operational in the fiscal year 2024-25.
Vraj Iron and Steel offers products such as Sponge Iron, TMT Bars, MS Billets, and by-products including Dolochar, Pellets, and Pig Iron. Their customer base comprises industrial clients and end-users, with sales conducted both directly and through brokers/dealers. In their commitment to continuous improvement, the company has obtained the Environment Management System Certification under ISO 14001: 2015 for their Raipur plant.
Objectives of the Issue
Funding for Capital Expenditure towards the “Expansion Project” at Bilaspur Plant
Repayment or Prepayment of Borrowings from HDFC Bank obtained by the company for capital expenditure towards the “Expansion Project” at Bilaspur Plant
Capital Expenditure towards the “Expansion Project” at Bilaspur Plant
General Corporate Purposes
Vraj Iron and Steel IPO Review (Apply or Not)
To be updated soon
Brokerage Firm IPO Reviews
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Arihant Capital: To be updated 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 |
Vraj Iron and Steel IPO Market Lot
The minimum market lot for the Vraj Iron and Steel IPO is 72 shares, requiring an application amount of ₹14,904. Retail investors can apply for up to 13 lots, totaling 936 shares or ₹193,752.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 72 | ₹ 14,904 |
| Retail Maximum | 13 | 936 | ₹ 1,93,752 |
| S-HNI Minimum | 14 | 1,008 | ₹ 2,08,656 |
| B-HNI Minimum | 68 | 4,896 | ₹ 10,13,472 |
Vraj Iron and Steel IPO Allotment & Listing Dates
The Vraj Iron and Steel IPO will open on June 26 and close on June 28. The allotment of shares will be finalized on July 1, with the IPO listing scheduled for 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 Valuation – FY2023
Review the Vraj Iron and Steel IPO valuation details, including Earning Per Share (EPS), Price/Earning (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV).
| 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: Bigshare Online
Vraj Iron and Steel IPO Allotment Status Check
Check the Vraj Iron and Steel IPO allotment status on the Bigshare website.
Vraj Iron and Steel IPO Lead Managers (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: Vraj TMT
Vraj Iron and Steel IPO FAQs
What is Vraj Iron and Steel IPO?
Vraj Iron and Steel IPO is a main-board IPO aiming to raise ₹171 Crores. The issue is priced at ₹195 to ₹207 per equity share and will be listed on BSE & NSE.
When will Vraj Iron and Steel IPO open?
The IPO opens on June 26, 2024, for QIB, NII, and Retail Investors.
What is the Investors Portion in Vraj Iron and Steel IPO?
The investors’ portion is 50% for QIB, 15% for NII, and 35% for Retail.
How to Apply for the Vraj Iron and Steel IPO?
You can apply via ASBA online through your bank account or UPI through your stock brokers. Offline applications through stock brokers are also available.
How to Apply for the Vraj Iron and Steel IPO through Zerodha?
Log in to Console on the Zerodha Website or Application.
Go to Portfolio and Click on IPO.
Select “Vraj Iron and Steel” and click on the Bid Button.
Enter your UPI ID, Quantity, and Price, then submit the IPO Application Form.
Approve the mandate on your UPI App (Net Banking or BHIM App).
Open a Demat Account with Zerodha.
How to Apply for the Vraj Iron and Steel IPO through Upstox?
Log in to the Upstox Application.
Select the IPO and click on the Bid Button for “Vraj Iron and Steel.”
Confirm your application and approve the mandate on your UPI App (Net Banking or BHIM App).
Open a Demat Account with Upstox.
How to Apply for the Vraj Iron and Steel IPO through Paytm Money?
Log in to the Paytm Money Application.
Select the IPO and click on the Bid Button for “Vraj Iron and Steel.”
Confirm your application and approve the mandate on your UPI App (Net Banking or BHIM App).
Open a Demat Account with Paytm Money.
What is the Vraj Iron and Steel IPO Size?
The IPO size is ₹171 crores.
What is the Vraj Iron and Steel IPO Price Band?
The price band is ₹195 to ₹207.
What is the Vraj Iron and Steel IPO Allotment Date?
The allotment date is July 1, 2024.
What is the Vraj Iron and Steel IPO Listing Date?
The listing date is July 3, 2024, on BSE and NSE.
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