Vraj Iron and Steel IPO: Read More About This IPO in Detail

Vraj Iron and Steel IPO is open for subscription starting Wednesday, June 26, 2024, and closing on Friday, June 28, 2024. The price is decided at Rs 195 to Rs 207 per share. The minimum lot size for the retail category is 72 shares. The minimum lot size for small NII is 14 lots consisting of 1008 shares. Meanwhile, the minimum lot for big non-institutional investors is 68 lots with 4,896 shares. The minimum investment required for retail category investors is Rs 14,904 (207 x 72 shares). However, for small non-institutional investors, the minimum investment amount required is Rs 2,08,650 (207 x 1008 shares); for big non-institutional investors, it is Rs 10,13,472 (207 x 4,896 shares). Vraj Iron and Steel IPO is a book-built issue of Rs 171 crores. This issue is an entirely fresh issue of Rs 0.83 crore equity shares. The allotment for this IPO is expected to be finalised on Monday, July 1, 2024. Vraj Iron and Steel Limited IPO will be listed on both BSE and NSE, and the listing date is fixed on Wednesday, July 3, 2024. The book-running lead manager of Vraj Iron and Steel Limited is Aryaman Financial Services Limited. The registrar for this new IPO is Bigshare Services Private Limited.

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About Vraj Iron and Steel Limited

Vraj Iron and Steel Limited incorporated in June 2004, is a subsidiary of Gopal Sponge and Power Private Limited. The company manufactures steel and iron. The company is expanding their business and is in the process of adding fresh capacities to the manufacturing plants and captive power plants and diversifying into related segments. Vraj Iron and Steel product portfolio comprises offerings such as Sponge Irons, TMT Bars, MS Billets, and by-products Dolochar, Pellets, and Pig Iron, which cater to a mix of industrial customers and end-users.Vraj Iron and Steel Limited has two manufacturing plants at  Raipur and Bilaspur in Chhattisgarh. The company's steel plant includes manufacturing setups like a DRI unit, EAF, continuous billet casting mill, sophisticated and high-speed rolling mill, microprocessor-based products technologies and fully-equipped quality assurance and testing laboratories. As per latest data, the company has a team of 533 employees, including 298 permanent employees, 7 at the registered office, 200 at the Raipur Plant, 87 at the Bilaspur Plant, and 235 contract workers.

Objectives of Vraj Iron and Steel IPO

The net amount received from this IPO will be allocated for capex toward the expansion of Bilaspur Plant, repayment or prepayment of the certain borrowings from HDFC Bank obtained by the company. Other than this, general corporate purposes will also be fulfilled. 

Financials of Vraj Iron and Steel Limited (Amt in Rs Crore)

Vraj Iron and Steel reported a revenue of Rs 304.81 crore and PAT of Rs 44.58 for the period ending on 31st Dec 2023. The company revenue increased by 24.87% and net profit increased by 88.12% between the FY ending on 31st March 2023 and 31st March 2022.

Other Important Details of Vraj Iron and Steel Limited IPO

Time-Table of Vraj Iron and Steel Limited IPO

Lot Size of Vraj Iron and Steel Limited IPO

IPO Reservation of Vraj Iron and Steel Limited

Promoters of Vraj Iron and Steel Limited and Their Holdings

The promoters of Vraj Iron and Steel company are Gopal Sponge and Power Private Limited, V. A. Transport Private Limited and Vijay Anand Jhanwar.

Key Performance Indicator of Vraj Iron and Steel Limited IPO

EPS and P/E Ratio Post IPO

Lead Manager(s) of Vraj Iron and Steel Limited IPO

The book-running lead managers of Vraj Iron and Steel Limited are Aryaman Financial Services Limited.

How do you apply for the Vraj Iron and Steel Limited IPO?

Wait for the public issue to open for subscription, then visit Bigul website to apply for the Vraj Iron and Steel Limited IPO with Bigul.

How do you check the allotment status of the Vraj Iron and Steel Limited IPO?

The registrar for Vraj Iron and Steel Limited IPO is Bigshare Services Private Limited. To check your allotment status, please click here.

FAQs

1. What are the details of Vraj Iron and Steel Limited IPO 2024?

Vraj Iron and Steel IPO is a book-built issue of Rs 171 crores. This issue is an entirely fresh issue of Rs 0.83 crore equity shares. The allotment for this IPO is expected to be finalised on Monday, July 1, 2024.

2. Who are the lead managers for the Vraj Iron and Steel Limited IPO?

Aryaman Financial Services Limited are appointed as the lead managers for this IPO.

3. What is the role of Bigshare Services in this IPO?

Bigshare Services Private Limited is the registrar for Vraj Iron and Steel Limited, handling the IPO's administrative aspects.

4. How can I apply for the Vraj Iron and Steel Limited IPO?

The public subscription of this IPO will open on June 26, 2024. Click here to continue the application process.

5. How will the net proceeds from the IPO be utilised?

The net amount received from this IPO will be allocated for capex toward the expansion of Bilaspur Plant, repayment or prepayment of the certain borrowings from HDFC Bank obtained by the company. Other than this, general corporate purposes will also be fulfilled. 

6. How can I check the allotment status of the IPO?

Investors can check out the allotment status of the Vraj Iron and Steel Limited IPO 2024 by visiting here.

7. What is the financial performance of Vraj Iron and Steel Limited?

Vraj Iron and Steel reported a revenue of Rs 304.81 crore and PAT of Rs 44.58 for the period ending on 31st Dec 2023. The company revenue increased by 24.87% and net profit increased by 88.12% between the FY ending on 31st March 2023 and 31st March 2022.

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