Vraj Iron and Steel IPO GMP Today, Vraj Iron and Steel IPO Grey Market Premium Updates | Vraj Iron and Steel IPO, Latest target, Opening gain
Incorporated in June 2004, Vraj Iron and Steel Limited manufactures Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj.
The company currently has a production capacity of 57,600 TPA of MS Billets, which its rolling mills can use to manufacture TMT Bars with a production capacity of 54,000 TPA.
The company’s 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.
The Raipur Plant has achieved the Environmental Management System Certification under the new ISO 14001:2015 standard.
As of June 30, 2023, the company has a workforce of 533, including 298 permanent employees, 7 at the Registered Office, 200 at the Raipur Plant, 87 at the Bilaspur Plant, and 235 contract workers.
The company runs two manufacturing plants in Raipur and Bilaspur, Chhattisgarh, covering 52.93 acres. As of March 31, 2023, the total installed capacity of the manufacturing plants was 231,600 tons per year, including intermediate and final products.Vraj Iron and Steel IPO Details:
| Issuer | Vraj Iron and Steel IPO | |
| Issue Type | Book Built Issue IPO | |
| Issue Period | Issue Opens: 26 June 2024 | |
| Issue Closes: 28 June 2024 | ||
| Price Brand | ₹195 to ₹207 per share | |
| Issue Size | ₹171.00 Cr | |
| Face Value | ₹10 per share | |
| Market Lot | 72 Shares | |
| Retail (Max) | ₹193,752 | |
| QIB | 50% | |
| HNI | 15% | |
| Retail Individual Bidders | 35% | |
| Listing at | NSE & BSE | |
| ✔️ Apply With | ANGEL Free DEMAT Account | |
| Total Shares | 8,260,870 shares | |
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Vraj Iron and Steel IPO GMP Rates day by day
Vraj Iron and Steel IPO Market Lot:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 72 | ₹14,904 |
| Retail (Max) | 13 | 936 | ₹193,752 |
| S-HNI (Min) | 14 | 1,008 | ₹208,656 |
| S-HNI (Max) | 67 | 4,824 | ₹998,568 |
| B-HNI (Min) | 68 | 4,896 | ₹1,013,472 |
Vraj Iron and Steel IPO Date, Allotment & Listing:
| Vraj Iron and Steel IPO Opening Date: | JUNE 26, 2024 |
| Vraj Iron and Steel IPO Closing Date: | JUNE 28, 2024 |
| Basis of Allotment: | JULY 01, 2024 |
| Initiation of Refunds: | JULY 02, 2024 |
| Credit to Demat Account: | JULY 02, 2024 |
| Listing Date: | JULY 03, 2024 |
Vraj Iron and Steel Limited Financial Information (Restated Consolidated)
Vraj Iron and Steel Limited’s revenue increased by 24.87% and profit after tax (PAT) rose by 88.12% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 253.05 | 191.54 | 150.77 | 126.33 |
| Revenue | 304.81 | 517.42 | 414.38 | 290.93 |
| Profit After Tax | 44.58 | 54.00 | 28.70 | 10.99 |
| Net Worth | 187.50 | 140.92 | 87.14 | 57.79 |
| Reserves and Surplus | 162.78 | 135.97 | 82.19 | 52.85 |
| Total Borrowing | 49.30 | 22.98 | 42.51 | 45.78 |
| Amount in ₹ Crore | ||||
Key Performance Indicator
The market capitalization of Vraj Iron and Steel IPO is Rs 682.74 Cr.
| KPI | Values |
|---|---|
| ROE | 23.78% |
| ROCE | 25.34% |
| Debt/Equity | 0.27 |
| RoNW | 23.78% |
| P/BV | 2.73 |
| PAT Margin (%) | 3.61 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 21.84 | 18.02 |
| P/E (x) | 9.48 | 11.49 |
Objects of the Issue (Vraj Iron and Steel IPO Objectives)
The company proposes to utilise the Net Proceeds in the following manner.
- Funding for Capital Expenditure towards the “Expansion Project” at Bilaspur Plant:
- Repayment or prepayment of borrowings from HDFC Bank obtained by the company for the capital expenditure towards the “Expansion Project” at Bilaspur Plant; and
- Capital expenditure towards the “Expansion Project” at Bilaspur Plant.
- General Corporate Purposes.
Vraj Iron and Steel IPO ALLOTMENT STATUS
How to Apply for Vraj Iron and Steel IPO?
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How to Apply Vraj Iron and Steel IPO through Zerodha?
Log in to the Console in the Zerodha Website or Application. Go to Portfolio and Click on IPO. You will see the IPO Name “Vraj Iron and Steel”. Click on the Bid Button. Enter your UPI ID, Quantity, and Price. Submit IPO Application Form. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open a Demat Account with Zerodha.
How to Apply Vraj Iron and Steel IPO through Upstox?
Log in to the Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Vraj Iron and Steel”. Click on the Bid Button. Confirm your application. Now go to your UPI App on Net Banking or BHIM App to Approve – the mandate. Open a Demat Account with Upstox.
In case you have not been allotted or for any partial allotment of IPO shares, the blocked amount, if any, will be unblocked/released on or before the UPI mandate expiry date. Please reach out to your bank in case funds are not unblocked/released after the mandate expiry date. 
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Frequently Asked Questions
Vraj Iron and Steel IPO is a main-board initial public offering of 8,260,870 Equity shares of the face value of ₹10 aggregating up to ₹171.00 Crores. The issue price of the IPO is ₹195 to ₹207 Per Equity Share. The minimum order quantity is 72 Shares per application and the offer type is Book Built Issue. The IPO opens on June 26, 2024 and closes on June 28, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Vraj Iron and Steel IPO opens on June 26, 2024 and closes on June 28, 2024.
You can apply in Vraj Iron and Steel IPO online using either UPI or ASBA as payment method. Aryaman Financial Services Limited is the book running lead manager of the Vraj Iron and Steel IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
The finalization of Basis of Allotment for Vraj Iron and Steel IPO will be done on July 01, 2024, and the allotted shares will be credited to your demat account by July 02, 2024. Check the Vraj Iron and Steel IPO allotment status.
The Vraj Iron and Steel IPO listing date is not yet announced. The tentative date of Vraj Iron and Steel IPO listing is July 02, 2024.
Vraj Iron and Steel IPO lot size is 72 Shares and the minimum order quantity is 1 Shares.