Vraj Iron IPO GMP, Price, Date, Allotment

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Last updated on July 3, 2024

Vraj Iron IPO

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.

Vraj Iron and Steel Ltd

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


Vraj Iron IPO Details

Vraj Iron IPO Dates26 – 28 Jun 2024
Vraj Iron and Steel IPO PriceINR 195 – 207 per share
Fresh issueINR 171 crore
Offer For SaleNIL
Total IPO sizeINR 171 crore
Minimum bid (lot size)72 shares (INR 14,904)
Face Value INR 10 per share
Retail Allocation35%
Listing OnNSE, BSE

Vraj Iron and Steel Financial Performance

 FY 2021FY 2022FY 20239M FY 2024
Revenue290.71414.04515.67301.32
Expenses276.53377.20448.42249.09
Net income10.9928.7054.0044.58
Margin (%)3.786.9310.4714.79
Figures in INR Crores unless specified otherwise

Vraj Iron and Steel Offer News


Vraj Iron and Steel IPO Valuations & Margins

FY 2021FY 2022FY 2023
(Pre Issue)
FY 2024
(Post-Issue)*
EPS4.4511.6221.8618.01
PE Ratio8.92 – 9.4710.83 – 11.49
* Calculated on the basis of annualized Profits After Tax for FY 2024
FY 2021FY 2022FY 2023
RONW (%)19.0132.9438.32
NAV23.4035.2857.05
EBITDA (%)10.0111.9915.77
ROCE (%)20.6832.1444.98
Debt/Equity0.820.510.17
*Compiled by IPO Central from Prospectus

Vraj Iron IPO GMP Today (Daily Trend)

DateDay-wise IPO GMPKostakSubject to Sauda
2 July 2024703,900
1 July 2024754.200
29 June 2024754,200
28 June 2024804,500
27 June 2024703,800
26 June 2024603,200
25 June 2024502,600
24 June 2024372,000
22 June 2024201,500

Vraj Iron and Steel IPO Objectives

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:

  1. Funding for Capital Expenditure towards the ‘Expansion Project’ at Bilaspur Plant – INR 164.5 crore
  2. General Corporate Purposes

Vraj Iron – Comparison With Listed Peers

CompanyPE ratioEPSRONW (%)NAVRevenue (Cr.)
Vraj Iron & Steel9.4721.8638.3257.05515.67
Godawari Power and Ispat11.2561.1620.31277.095,753.04
Sarda Energy and Minerals1.46169.9417.71967.724,211.90
Shyam Metalics and Energy17.2033.2611.85280.7912,610.18

Vraj Iron IPO Dates & Listing Performance

IPO Opening Date26 June 2024
IPO Closing Date28 June 2024
Finalisation of Basis of Allotment1 July 2024
Initiation of refunds2 July 2024
Transfer of shares to demat accounts2 July 2024
Vraj Iron IPO Listing Date3 July 2024
Opening Price on NSEINR 240 per share (up 15.94%)
Closing Price on NSEINR 252 per share (up 21.74%)

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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[email protected]
Website: 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: +91 22 6263 8200
Email:  [email protected]
Website: 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: +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.

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