Issue Price
₹ 195-₹ 207
per equity share
Issue Size
61.38 lakhs
equity share
Face Value
₹ 10
per equity share
Market Lot
72
equity share
Please note
Listing at BSE ,NSE
VRAJ IRON AND STEEL LIMITED
Important Dates
IPO Open Date
26 Jun 2024
IPO Close Date
28 Jun 2024
Allotment Date
01 Jul 2024
Initiation of Refunds
02 Jul 2024
Credit of Shares to Demat Account
02 Jul 2024
IPO Listing Date
03 Jul 2024
UPI Mandate Expiry Date
28 Jun 2024
IPO Details
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.
Seize the deal, apply for IPO today!
Apply for IPOAbout 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.
Parent Organisation
-
Founded
2004
Managing Director
Gopal Sponge
IPO Objectives
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.
How to apply for IPO
- Login to your Bigul account and select the issue in the current IPO section
- Enter the number of lots and price at which you wish to apply for
- Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
- You will receive a mandate notification to block funds in your UPI app
- Approve the mandate request on your UPI and funds will be blocked
Open Demat Account in 5 Minutes
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PAN Card | Aadhaar Card | Bank Account Number
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