Vraj Iron IPO Subscription Status

Last updated on June 28, 2024

Vraj Iron IPO subscription started on 26 June 2024 and will close on 28 June 2024. Vraj Iron and Steel plans to raise around INR 171 crores via the IPO. The price band is fixed at INR 195 – 207 per share. The Vraj Iron and Steel IPO market lot has 72 shares and the minimum application amount is INR 14,904. The retail quota is 35%, QIB is 50% and NII is 15%.

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.

Check Vraj Iron IPO subscription status here. The subscription figures are taken from BSE and NSE and are updated at regular intervals. The public issue has QIB, NII, and Retail categories for the subscription. Here you can find Vraj Iron IPO subscription status segregated by days and investor categories.

Vraj Iron IPO Subscription Status – Live Updates

Shares allotted to anchor investors are not included in these calculations. Similarly, shares allotted to market makers, if any, are not part of these calculations.

Investor Categories in Vraj Iron IPO Subscription

The three most important categories of IPO investors defined by SEBI are part of the Vraj Iron and Steel IPO.

Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.

Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.

Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.

The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).

Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors. 

Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.

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