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Vraj Iron and Steel IPO is a book built issue of Rs 171.00 crores. The issue is entirely a fresh issue of 0.83 crore shares.
Vraj Iron and Steel IPO bidding started from June 26, 2024 and ended on June 28, 2024. The allotment for the Vraj Iron and Steel IPO is expected to be finalized on Monday, July 1, 2024. Vraj Iron and Steel IPO will list on BSE, NSE with tentative listing date fixed as Wednesday, July 3, 2024.
Vraj Iron and Steel IPO price band is set at ₹195 to ₹207 per share. The minimum lot size for an application is 72 Shares. The minimum amount of investment required by retail investors is ₹14,904. The minimum lot size investment for sNII is 14 lots (1,008 shares), amounting to ₹208,656, and for bNII, it is 68 lots (4,896 shares), amounting to ₹1,013,472.
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.
Refer to Vraj Iron and Steel IPO RHP for detailed information.
| IPO Date | June 26, 2024 to June 28, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹195 to ₹207 per share |
| Lot Size | 72 Shares |
| Total Issue Size | 8,260,870 shares (aggregating up to ₹171.00 Cr) |
| Fresh Issue | 8,260,870 shares (aggregating up to ₹171.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 24,721,750 |
| Share holding post issue | 32,982,620 |
Vraj Iron and Steel IPO offers 8,260,868 shares. 1,652,174 (20.00%) to QIB, 1,239,130 (15.00%) to NII, 2,891,305 (35.00%) to RII and 2,478,259 (30.00%) to Anchor investors. 40,157 RIIs will receive minimum 72 shares and 409 (sNII) and 819 (bNII) will receive minimum 1,008 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 2,478,259 (30.00%) | NA |
| QIB Shares Offered | 1,652,174 (20.00%) | NA |
| NII (HNI) Shares Offered | 1,239,130 (15.00%) | |
| bNII > ₹10L | 826,087 (10.00%) | 819 |
| sNII < ₹10L | 413,043 (5.00%) | 409 |
| Retail Shares Offered | 2,891,305 (35.00%) | 40,157 |
| Total Shares Offered | 8,260,868 (100%) |
Vraj Iron and Steel IPO raises Rs 51.30 crore from anchor investors. Vraj Iron and Steel IPO Anchor bid date is June 25, 2024. Vraj Iron and Steel IPO Anchor Investors list
| Bid Date | June 25, 2024 |
| Shares Offered | 2,478,259 |
| Anchor Portion Size (In Cr.) | 51.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 29, 2024 |
Vraj Iron and Steel IPO opens on June 26, 2024, and closes on June 28, 2024.
| 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 |
Investors can bid for a minimum of 72 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| 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 |
| Lot Size Calculator | |||
The promoters of the company are Gopal Sponge and Power Private Limited, V. A. Transport Private Limited and Vijay Anand Jhanwar.
| Share Holding Pre Issue | 99.99% |
| Share Holding Post Issue |
Incorporated in June 2004, Vraj Iron and Steel Limited manufactures Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj.
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.
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.
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 | ||||
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 |
The company proposes to utilise the Net Proceeds in the following manner.
[Dilip Davda] The company is engaged in sponge iron, TM Bars, M S Billets manufacturing and marketing. With its captive power plants, it plays with efficient cost management. It has posted good performances so far and post expansion, the company is confident of maintaining the trends. Based on FY24 annualized earnings, the issue appears reasonably priced. Investors may lap it up for medium to long term. Read detail review...
The Vraj Iron and Steel IPO is subscribed 126.36 times on June 28, 2024 6:19:06 PM. The public issue subscribed 58.31 times in the retail category, 173.99 times in the QIB category, and 221.66 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 173.99 |
| NII | 221.66 |
| bNII (bids above ₹10L) | 217.50 |
| sNII (bids below ₹10L) | 229.99 |
| Retail | 58.31 |
| Total | 126.36 |
Total Application : 2,225,789 (55.43 times)
Vraj Iron and Steel Limited
First Floor, Plot No 63 & 66, Ph No 113
Mother Teresa Ward No. 43
3, Jalvihar Colony, Raipur-492001
Phone: +91-771-4059002
Email: info@vrajtmt.in
Website: https://www.vrajtmt.in/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Vraj Iron and Steel IPO is a main-board IPO of 8,260,870 equity shares of the face value of ₹10 aggregating up to ₹171.00 Crores. The issue is priced at ₹195 to ₹207 per share. The minimum order quantity is 72 Shares.
The IPO opens on June 26, 2024, and closes on June 28, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Vraj Iron and Steel IPO using UPI as a payment gateway. Zerodha customers can apply in Vraj Iron and Steel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vraj Iron and Steel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vraj Iron and Steel IPO opens on June 26, 2024 and closes on June 28, 2024.
Vraj Iron and Steel IPO lot size is 72 Shares, and the minimum amount required is ₹14,904.
You can apply in Vraj Iron and Steel IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Vraj Iron and Steel IPO will be done on Monday, July 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, July 2, 2024. Check the Vraj Iron and Steel IPO allotment status.
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