Vraj Iron and Steel Limited IPO Review: Opening Date, GMP & Subscription Status

   3.8 ( 4 votes)
Posted By : Shubham Singh
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Offer Details

"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


How To Get/Claim:


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"
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