Vraj Iron IPO Description – Vraj Iron and Steel is engaged in manufacturing Sponge Iron, M.S. Billets, and TMT Bars under the brand Vraj. The company currently operates two manufacturing facilities spread across 52.93 acres at Raipur and Bilaspur in Chhattisgarh.
As of 31 December 2023, Vraj Iron and Steel is ramping up the production capacity of its existing production facilities as well as its captive power plant, and the total production capacity is expected to increase from 2,31,600 tons per annum (TPA) to 5,00,100 TPA and the total capacity of its captive power plant is expected to increase from 5 Megawatt (MW) to 20 MW.
As of 31 December 2023, the company has 531 employees, of which 296 are permanent employees including 3 directors, 9 are head office employees, 193 employees at Raipur plant, 91 employees at Bilaspur plant, and 235 contract employees.
Promoters of Vraj Iron and Steel – Vijay Anand Jhanwar, Kusum Lata Maheshwari, Gopal Sponge and Power Private Limited, V.A. Transport Private Limited, Kirti Ispat Private Limited, Bhinaswar Commercial Private Limited, and Utkal Ispat Private Limited
Table of Contents
Vraj Iron IPO Details
| Vraj Iron IPO Dates | 26 – 28 Jun 2024 |
| Vraj Iron and Steel IPO Price | INR 195 – 207 per share |
| Fresh issue | INR 171 crore |
| Offer For Sale | NIL |
| Total IPO size | INR 171 crore |
| Minimum bid (lot size) | 72 shares (INR 14,904) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | NSE, BSE |
Vraj Iron and Steel Financial Performance
| Â | FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 |
| Revenue | 290.71 | 414.04 | 515.67 | 301.32 |
| Expenses | 276.53 | 377.20 | 448.42 | 249.09 |
| Net income | 10.99 | 28.70 | 54.00 | 44.58 |
| Margin (%) | 3.78 | 6.93 | 10.47 | 14.79 |
Vraj Iron and Steel Offer News
- Vraj Iron IPO Allotment Status
- Vraj Iron IPO Subscription Status
- Vraj Iron and Steel RHP
- Vraj Iron DRHP
- ASBA IPO Forms
- Live IPO Subscription Status
- IPO Allotment Status
Vraj Iron and Steel IPO Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 (Pre Issue) | FY 2024 (Post-Issue)* | |
| EPS | 4.45 | 11.62 | 21.86 | 18.01 |
| PE Ratio | – | – | 8.92 – 9.47 | 10.83 – 11.49 |
| FY 2021 | FY 2022 | FY 2023 | |
| RONW (%) | 19.01 | 32.94 | 38.32 |
| NAV | 23.40 | 35.28 | 57.05 |
| EBITDA (%) | 10.01 | 11.99 | 15.77 |
| ROCE (%) | 20.68 | 32.14 | 44.98 |
| Debt/Equity | 0.82 | 0.51 | 0.17 |
Vraj Iron IPO GMP Today (Daily Trend)
| Date | Day-wise IPO GMP | Kostak | Subject to Sauda |
| 2 July 2024 | 70 | – | 3,900 |
| 1 July 2024 | 75 | – | 4.200 |
| 29 June 2024 | 75 | – | 4,200 |
| 28 June 2024 | 80 | – | 4,500 |
| 27 June 2024 | 70 | – | 3,800 |
| 26 June 2024 | 60 | – | 3,200 |
| 25 June 2024 | 50 | – | 2,600 |
| 24 June 2024 | 37 | – | 2,000 |
| 22 June 2024 | 20 | – | 1,500 |
Vraj Iron and Steel IPO Objectives
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding for Capital Expenditure towards the ‘Expansion Project’ at Bilaspur Plant – INR 164.5 crore
- General Corporate Purposes
Vraj Iron – Comparison With Listed Peers
| Company | PE ratio | EPS | RONW (%) | NAV | Revenue (Cr.) |
| Vraj Iron & Steel | 9.47 | 21.86 | 38.32 | 57.05 | 515.67 |
| Godawari Power and Ispat | 11.25 | 61.16 | 20.31 | 277.09 | 5,753.04 |
| Sarda Energy and Minerals | 1.46 | 169.94 | 17.71 | 967.72 | 4,211.90 |
| Shyam Metalics and Energy | 17.20 | 33.26 | 11.85 | 280.79 | 12,610.18 |
Vraj Iron IPO Dates & Listing Performance
| IPO Opening Date | 26 June 2024 |
| IPO Closing Date | 28 June 2024 |
| Finalisation of Basis of Allotment | 1 July 2024 |
| Initiation of refunds | 2 July 2024 |
| Transfer of shares to demat accounts | 2 July 2024 |
| Vraj Iron IPO Listing Date | 3 July 2024 |
| Opening Price on NSE | INR 240 per share (up 15.94%) |
| Closing Price on NSE | INR 252 per share (up 21.74%) |
Vraj Iron IPO Reviews – Subscribe or Avoid?
Angel One –
Anand Rathi –
Antique Stock Broking –
Arihant Capital –
Ashika Research –
BP Wealth – Subscribe
Capital Market – Subscribe
Canara Bank Securities – Subscribe
Choice Broking –
Dalal & Broacha –
Elite Wealth –
GCL Broking –
Geojit –
GEPL Capital – Subscribe
Hem Securities – Subscribe for long term
ICICIdirect –
Indsec –
Jainam Broking – Subscribe for long term
DR Choksey –
LKP Research –
Marwadi Financial – Subscribe
Systematix Shares –
Mehta Equities –
Nirmal Bang –
Reliance Securities –
Sushil Finance –
Samco Securities – Not rated
SBI Securities –
SMC Global – 2/5
SMIFS – Subscribe
Swastika Investmart – Subscribe
Ventura Securities – Subscribe
Vraj Iron Offer Lead Manager
ARYAMAN FINANCIAL SERVICES LIMITED
60, Khatau Building, Ground Floor,
Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001
Phone: +91 22 – 6216 6999
Email:Â [email protected]
Website:Â www.afsl.co.in
Vraj Iron and Steel Offer Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone:Â +91 22 6263 8200
Email:Â Â [email protected]
Website:Â www.bigshareonline.com
Vraj Iron Contact Details
VRAJ IRON AND STEEL LIMITED
First Floor, Plot No 63 & 66, Ph No 113, Mother
Teresa Ward No. 43, Jalvihar Colony, Raipur,
Chhattisgarh, India, 492001
Phone:Â +91-771-4059002
Email: [email protected]
Website: www.vrajtmt.in
Vraj Iron IPO FAQs
How many shares in Vraj Iron IPO are reserved for HNIs and retail investors?
The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%.
How to apply for an Vraj Iron Public Offer?
The best way to apply for Vraj Iron public offer is through Internet banking ASBA (know all about ASBA here). You can also apply online through your stock broker using UPI. If you prefer to make paper applications, fill up an offline IPO form and deposit the same to your broker.
What is Vraj Iron IPO GMP today?
Vraj Iron IPO GMP today is INR 70 per share.
What is Vraj Iron kostak rate today?
Vraj Iron kostak rate today is INR NA per application.
What is Vraj Iron Subject to Sauda rate today?
Vraj Iron Subject to Sauda rate today is INR 3,900 per application.
