"Vraj Iron and Steel Limited IPO: Key Dates, GMP, and Subscription Details"
Overview
Vraj Iron and Steel Limited, originally incorporated as Phil Ispat Private Limited in 2004, has evolved into a major player in the iron and steel industry. The company underwent a name change to Vraj Iron & Steel Private Limited in 2023, followed by a conversion to a public limited company later that year. With a strong focus on high-quality steel products, Vraj Iron and Steel serves a diverse range of industrial and construction needs. The company is led by Chairman and Managing Director Vijay Anand Jhanwar, with key contributions from Whole-Time Directors Prasant Kumar Mohta and Praveen Somani. The IPO aims to raise approximately ₹171.00 Crore, intended for expansion projects, debt repayment, and other corporate purposes.
IPO Details
- IPO Dates: June 26, 2024, to June 28, 2024
- Price Band: ₹195 to ₹207 per share
- Lot Size: 72 shares
- Total Issue Size: 8,260,870 shares (aggregating up to ₹171.00 Crore)
- Issue Type: Book Built Issue IPO
- Listing At: BSE, NSE
Vraj Iron and Steel IPO Timeline
| Event |
Date |
| IPO Open Date |
Wednesday, June 26, 2024 |
| IPO Close Date |
Friday, June 28, 2024 |
| Basis of Allotment |
Monday, July 1, 2024 |
| Initiation of Refunds |
Tuesday, July 2, 2024 |
| Credit of Shares to Demat |
Tuesday, July 2, 2024 |
| Listing Date |
Wednesday, July 3, 2024 |
| Cut-off time for UPI mandate confirmation |
5 PM on June 28, 2024 |
Vraj Iron and Steel Limited Financial Information
Restated Consolidated Financial Information (₹ in Crore)
| 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 |
Grey Market Premium (GMP)
Vraj Iron and Steel IPO GMP Live Rates
| Date |
IPO GMP |
| Today |
₹75 |
| 28 June |
₹90 |
| 27 June |
₹75 |
| 26 June |
₹60 |
| 25 June |
₹50 |
| 24 June |
₹40 |
| 23 June |
₹20 |
| 21 June |
₹20 |
Subscription Details
QIB: 173.99 times
NII: 221.66
Retail: 58.31
Total: 126.36
Promoters and Shareholders
The promoters of Vraj Iron and Steel Limited include Gopal Sponge and Power Private Limited, V.A. Transport Private Limited, and Vijay Anand Jhanwar. The company is registered with the Registrar of Companies, Chhattisgarh, and operates from its registered office in Raipur, Chhattisgarh.
Conclusion
Vraj Iron and Steel Limited's IPO presents an opportunity for investors to participate in a growing company with a strong financial track record. The company's steady increase in revenue and profit, along with its strategic plans, makes it a notable contender in the market.
SEO Headlines:
- "Vraj Iron and Steel IPO Review: Price Band, Financials, and Key Insights"
- "Vraj Iron and Steel Limited IPO: All You Need to Know"