05-Mar-2024
2 mins read
Vraj Iron and Steel Limited has filed a Draft Red Herring Prospectus for its upcoming IPO with Securities Exchange Board of India. Vraj Iron and Steel IPO issue is a fresh issue of Rs 171 crore and there will be no offer for sale (OFS) component. The opening and closing dates of subscription are yet to be declared. The face value is set at Rs 10 each. The price band and lot size details are yet to be announced.The upcoming IPO listing is likely to be in the both, National Stock Exchange (NSE) and Bombay Stock Exchange. The book-running lead manager of Vraj Iron and Steel IPO is Aryaman Financial Services Limited. The registrar for this latest IPO is Bigshare Services Private Limited.
About Vraj Iron and Steel Limited Profile
Vraj Iron and Steel Limited is a subsidiary of Gopal Sponge and Power Private Limited. Company is engaged in the business of manufacturing 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 Limited has two manufacturing plants at Raipur and Bilaspur in Chhattisgarh. The steel plant of the company includes manufacturing setup like 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.
Objectives of the Vraj Iron and Steel IPO
The main objective of this new IPO is to raise funds for the expansion of the business. Other than this, the proceeds will be used to cover the working capital requirements of the company. The general corporate purposes are also to be fulfilled. However, there may be few more reasons for the fundraising which are yet to be announced.
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Consolidated Financial Statements of Vraj Iron and Steel Limited (Amt in Rs in Lakhs)
Company reported a revenue from operation of Rs 1,056.78 lakhs and total income of Rs 1,067.18 lakhs for the period ending on June 30, 2023. The net profit reported is Rs 163.34 lakhs for the period ending on June 30, 2023.
| Particulars | 30-Jun-23 | 31-Mar-23 | 31-Mar-23 | 31-Mar-21 |
| Equity Share capital | 49.44 | 49.44 | 49.44 | 49.44 |
| Net worth | 1,568.42 | 1,405.08 | 867.32 | 573.88 |
| Revenue from Operation | 1,056.78 | 5,156.71 | 4,140.43 | 2,907.06 |
| Total income | 1,067.18 | 5,174.21 | 4,143.84 | 2,909.32 |
| Profit for the year | 163.34 | 539.97 | 287.04 | 109.85 |
Other Important Details of Vraj Iron and Steel IPO
| IPO Date | Yet to be announced |
| Listing Date | Yet to be announced |
| Face Value | Rs 10 per share |
| Price Band | Yet to be announced |
| Lot Size | Yet to be announced |
| Total Issue Size | amounting to Rs 171 crores |
| Fresh Issue | amounting to Rs 171 crores |
| Issue Type | Book built issue |
| Listing At | BSE, NSE |
| Shareholding pre issue | Yet to be announced |
| Shareholding post issue | Yet to be announced |
| Market Maker portion | Yet to be announced |
Time-Table of Vraj Iron and Steel IPO
| IPO Open Date | Yet to be announced |
| IPO Close Date | Yet to be announced |
| Basis of Allotment | Yet to be announced |
| Initiation of Refunds | Yet to be announced |
| Credit of Shares to Demat | Yet to be announced |
| Listing Date | Yet to be announced |
| Cut-off time for UPI mandate confirmation | Yet to be announced |
Promoters of Vraj Iron and Steel Limited and Their Holdings
The promoters of Vraj Iron and Steel company are Vijay Anand Jhanwar, Prashant Kumar Mohta, Praveen Somani, Sumit Deb, Sanjeeta Mohta, Parmod Kumar Vaswani.
Lead Manager(s) of Vraj Iron and Steel IPO
The lead manager for Vraj Iron and Steel IPO is Aryaman Financial Services Limited.
How do you apply for the Vraj Iron and Steel IPO?
Wait for the public issue to open for subscription, then click here to apply for the Vraj Iron and Steel Limited IPO with Bigul.
How do you check the allotment status of Vraj Iron and Steel IPO?
The registrar for Vraj Iron and Steel IPO is Bigshare Services Private Limited. To check your allotment status, please click here.
FAQs
- What is the Vraj Iron and Steel IPO ?
Vraj Iron and Steel IPO issue is a fresh issue of Rs 171 crore and there will be no offer for sale (OFS) component. The opening and closing dates of subscription are yet to be declared. The face value is set at Rs 10 each. The price band and lot size details are yet to be announced.
- Who are the lead managers for the Vraj Iron and Steel Limited IPO?
Aryaman Financial Services Limited is appointed as the lead manager for the IPO.
- What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for Vraj Iron and Steel Limited, handling the IPO’s administrative aspects.
- How can I apply for the Vraj Iron and Steel IPO?
The public subscription of this latest IPO is opening soon. Click here to begin the application process.
- How will the net proceeds from the IPO be utilised?
The main objective of this new IPO is to raise funds for the expansion of the business. Other than this, the proceeds will be used to cover the working capital requirements of the company. The general corporate purposes are also to be fulfilled. However, there may be few more reasons for the fundraising which are yet to be announced.
- How can I check the allotment status of the IPO?
Investors can check the allotment status of the Vraj Iron and Steel Limited IPO 2024 by visiting here.
- What is the financial performance of Vraj Iron and Steel Limited?
Company reported a revenue from operation of Rs 1,056.78 lakhs and total income of Rs 1,067.18 lakhs for the period ending on June 30, 2023. The net profit reported is Rs 163.34 lakhs for the period ending on June 30, 2023.
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