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Vraj Iron and Steel Limited, founded in June 2004 manufactures sponge iron, MS billets and TMT bars under the brand name Vraj. Previously known as Phil Ispat Pvt. Ltd., it is a subsidiary of Gopal Sponge and Power Private Limited in Raipur, a company involved in the steel and power industries. Vraj Iron and Steel has two manufacturing units located in Raipur and Chhattisgarh. It is recognized as one of the leading iron and steel manufacturers in central India. The company is expanding its production capacity, building new power plants and exploring related business areas.
Vraj Iron and Steel IPO Overview
Vraj Iron and Steel is planning to raise ₹171.00 crores through IPO. The IPO comprises only fresh issue. The IPO will be open for subscription from June 26 to June 28, 2024 with a price band set between ₹195 and ₹207 per share. Share allotment is anticipated to be finalized by June 1, 2024, with the shares expected to be listed on the NSE and BSE by July 3, 2024.
Currently, promoters own 99.99% of the company. Bigshare Services is managing the registration process for Vraj Iron and Steel IPO.
Vraj Iron and Steel IPO GMP
As of June 23, Vraj Iron and Steel IPO has a Grey Market Premium of ₹40. With the upper price band set at ₹207, the estimated listing price is ₹247 (Upper price band + today’s GMP). Indicating a gain of 19.32% per share.
Stay tuned with Trade Target for daily updates on Vraj Iron and Steel IPO GMP and the expected listing price.
- Date: 26– June – 2024
- Vraj Iron and Steel GMP: ₹85 (41.06%)
- Date: 25– June – 2024
- Vraj Iron and Steel GMP: ₹75 (36.23%)
- Date: 24– June – 2024
- Vraj Iron and Steel GMP: ₹53 (25.6%)
- Date: 23– June – 2024
- Vraj Iron and Steel GMP: ₹40 (19.32%)
How can one apply for Vraj Iron and Steel IPO?
For retail investors minimum investment starts with 1 lot including 72 shares at a cost of ₹14,904.
For sHNIs minimum investment in Vraj Iron and Steel’s IPO is set at 14 lots which includes 1008 shares and costs ₹208,656.
| 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 Financial
As of March 31, 2023, Vraj Iron and Steel reported a Profit After Tax of ₹54.00 crores. This marks an increase from the previous year’s PAT of ₹28.70 crores as of March 31, 2022 and an even more substantial rise from ₹10.99 crores reported on March 31, 2021.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
|
Assets in (₹ Crores) |
191.54
|
150.77 |
126.33
|
|
Revenue (₹ Crores) |
517.42
|
414.38 |
290.93
|
|
PAT (₹ crores)
|
54.00
|
28.70
|
10.99
|
|
Total Borrowing (₹ crores)
|
22.98
|
42.51
|
45.78
|
Vraj Iron and Steel Vs Peers
Vraj Iron and Steel has good EPS but in comparison to its peers Sarda Energy & Minerals Ltd has the highest EPS of 169.94 which is good, A higher EPS is better.
| Company | EPS Diluted |
|---|---|
|
Vraj Iron and Steel Limited
|
21.84
|
|
Sarda Energy & Minerals Ltd.
|
169.94
|
|
Godawari Power & Ispat Ltd. |
61.16
|
|
Shyam Metalics And Energy Limited
|
33.26
|
Vraj Iron and Steel IPO Quota allocation
- QIB Investors: 50% of the net issue
- Retail Investors: 35% of the net issue
- NII (HNI) Investors: 15% of the net issue
Expected Listing Date for Vraj Iron and Steel IPO
- Subscription Period: 26 June to 28 June
- Basis of Allotment Finalization: 1 July 2024
- Initiation of Refunds: 2 July 2024
- Demat Credits: 2 July 2024
- Listing Date: 3 July 2024
- Listing on: NSE, BSE
