Vraj Iron and Steel IPO Details ( Vraj Iron and Steel Limited IPO Review )
(26 June 2024 – 28 June 2024)
Founded in June 2004, Vraj Iron and Steel Limited produces Sponge Iron, M.S. Billets, and TMT bars under the Vraj brand.
The company operates two manufacturing plants located in Raipur and Bilaspur, Chhattisgarh, covering a total of 52.93 acres. As of March 31, 2023, these plants have a combined annual capacity of 231,600 tons for both intermediate and final products.
Vraj Iron and Steel has a production capacity of 57,600 TPA (tons per annum) of MS Billets. These billets are processed in their rolling mills to produce TMT Bars, with a capacity of 54,000 TPA.
The product range includes Sponge Iron, TMT Bars, MS Billets, and by-products like Dolochar, Pellets, and Pig Iron. These products serve a diverse group of industrial customers and end-users.
The Raipur Plant has earned the Environmental Management System Certification under the latest ISO 14001:2015 standard.
As of June 30, 2023, the company employs a total of 533 workers, including 298 permanent employees. The workforce is distributed as follows: 7 at the Registered Office, 200 at the Raipur Plant, 87 at the Bilaspur Plant, and 235 contract workers.
Vraj Iron and Steel Limited IPO Competitive Strength
- Integrated and well-established manufacturing setup
- Manufacturing plants are strategically located, supported by robust architecture, leading to cost efficiencies and a stable supply chain
- Quantity and Average price of coal procured by the Company
- Diversified product mix with strong focus on value added products
- Experienced Promoter, Board and management team
- Consistent track record of growth and financial performance
Vraj Iron and Steel IPO Financials Performance ( Results )
Vraj Iron and Steel Limited Financial Information (Restated Consolidated)
All Amount in ₹ Crores
| Period Ended | Total Assets | Total Revenue | PAT | Net Worth | Reserves | Borrowing |
| 31-Mar-21 | 126.33 | 290.93 | 10.99 | 57.79 | 52.85 | 45.78 |
| 31-Mar-22 | 150.77 | 414.38 | 28.70 | 87.14 | 82.19 | 42.51 |
| 31-Mar-23 | 191.54 | 517.42 | 54.00 | 140.92 | 135.97 | 22.98 |
| 31-Dec-23 | 253.05 | 304.81 | 44.58 | 187.50 | 162.78 | 49.30 |
Objective of Vraj Iron and Steel IPO Issue
- Funding for Capital Expenditure towards the “Expansion Project” at Bilaspur Plant:
- Repayment or prepayment of borrowings from HDFC Bank obtained by the company for the capital expenditure towards the “Expansion Project” at Bilaspur Plant; and
- Capital expenditure towards the “Expansion Project” at Bilaspur Plant.
- General Corporate Purposes.
Vraj Iron and Steel IPO Basic Details
| IPO Date | June 26, 2024 to June 28, 2024 |
| Listing Date | Wednesday, July 3, 2024 |
| Face Value | ₹10 per share |
| Price | ₹195 to ₹207 per share |
| Lot Size | 72 shares |
| 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 | NSE, BSE |
| Share holding pre issue | 24,721,750 |
| Share holding post issue | 32,982,620 |
| Company Promoters | Gopal Sponge and Power Private Limited, V. A. Transport Private Limited and Vijay Anand Jhanwar |
Vraj Iron and Steel IPO Reservation
| Anchor Investor Shares Offered | 30% of the Net Issue |
| QIB Shares Offered | 20% of the Net Issue |
| NII (HNI) Shares Offered | 15% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
| Total Shares Offered | 100% of the Net Issue |
Vraj Iron IPO Timetable
Vraj Iron IPO will open on June 26, 2024 and close on June 28, 2024. You can join Vraj Iron IPO at 10.00 A.M. to 5.00 p.m. Upto which mandate can be applied.
| Event | Date |
| Opening Date | 26 June 2024 (Wednesday) |
| Closing Date | 28 June 2024 (Friday) |
| Basis of Allotment | 1 July 2024 (Monday) |
| Initiation of Refunds | 2 July 2024 (Tuesday) |
| Credit of Shares to Demat | 2 July 2024 (Tuesday) |
| Listing Date | 3 July 2024 (Wednesday) |
| Deadline for UPI mandate confirmation | 5 PM on 28 June 2024 |
Vraj Iron and Steel IPO Lot Size
For retail investors in Vraj Iron and Steel IPO, 72 shares will come in 1 lot or the minimum investment will be ₹14,904. Retail-individual investors can apply for up to 13 lots or the maximum investment will be ₹193,752.
| 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 Promoter Holding
The company’s promoters include Gopal Sponge and Power Private Limited, V. A. Transport Private Limited and Vijay Anand Jhanwar.
| Pre Issue Share Holding | 99.99% |
| Post Issue Share Holding |
Vraj Iron and Steel Ltd IPO Key Performance Indicator ( Valuation )
In the table given below, all the figures have been told according to the latest financial year.
| KPI | Values |
| Market Cap (₹ Cr.) | 682.74 |
| Earning Per Share (EPS) | ₹21.84 per Equity Share |
| Net Asset Value (NAV) | ₹285.00 per Equity Share |
| P/E Ratio (P/E) (x) | 9.48 |
| Post P/E Ratio (P/E) (x) | 11.49 |
| Return on Net Worth (RoNW) (%) | 23.78 |
| Return on equity (ROE) (%) | 23.78 |
| Return on Capital Employed (ROCE) (%) | 25.34 |
| Debt/Equity Ratio | 0.27 |
| Price/Book Value Ratio | 2.73 |
Vraj Iron and Steel IPO GMP Live Update, Kostak Rate day by day
| Date | GMP | Kostak | Subject to |
| Today | ₹75 | – | – |
| 25 June 2024 | ₹70 | – | – |
Vraj Iron and Steel IPO Detail Video:
Vraj Iron and Steel IPO Subscription Status (Bidding Detail)
The Vraj Iron and Steel IPO on June 28, 2024 at 7:02:00 PM was subscribed 126.36 times, with the retail category being subscribed 58.31 times, the NII (Non-Institutional Investor) category being subscribed 221.66 times, QIB (Qualified-Institutional Buyers) category being subscribed 173.99 times.
| Category | Subscription |
| QIB | 173.99x |
| NII | 221.66x |
| Retail | 58.31x |
| Total | 126.36x |
Vraj Iron and Steel IPO Prospectus
| Vraj Iron and Steel IPO DRHP | Download |
| Vraj Iron and Steel IPO RHP | Download |
| Vraj Iron and Steel IPO Anchor Investors Details PDF | Download |
Vraj Iron and Steel IPO Rating
| Our Rating | 3.5/5.0 |
Vraj Iron and Steel Company Contact Information
Vraj Iron and Steel Limited
Registered Office: First Floor, Plot No 63 & 66, Ph No 113, Mother Teresa Ward No. 43, Jalvihar Colony, Raipur, Chhattisgarh, India, 492001.
Tel: +91-771-4059002
Contact Person: Priya Namdeo, Company Secretary and Compliance Officer
E-mail: info@vrajtmt.in
Website: www.vrajtmt.in
Corporate Identity Number: U27101CT2004PLC016701
Our Promoters: 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 and Steel IPO Registrar
Bigshare Services Private Limited
Registered Office: S6-2, 6th Floor, Pinnacle Business Park, Mahakali Caves Road, Next to Ahura Centre, Andheri East, Mumbai – 400093, Maharashtra, India
Tel: +91 22 6263 8200
Email: ipo@bigshareonline.com
Investor Grievance Email: investor@bigshareonline.com
Website: www.bigshareonline.com
Contact Person: Babu Raphael C
SEBI Registration Number: INR000001385
Vraj Iron and Steel IPO Lead Manager
Aryaman Financial Services Limited
Registered Office: 60, Khatau Building, Ground Floor, Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001, Maharashtra, India
Tel: +91 22 6216 6999
Email: ipo@afsl.co.in
Investor Grievance Email: feedback@afsl.co.in
Website: www.afsl.co.in
Contact Person: Vatsal Ganatra/Deepak Biyani
SEBI Registration No: INM000011344
Vraj Iron and Steel IPO FAQs
What is the lot size of Vraj Iron and Steel IPO?
The total size of Vraj Iron and Steel IPO is ₹171.00 crores and this is a complete fresh Issue.
When will Vraj Iron and Steel IPO start?
Vraj Iron and Steel IPO will open from 26 June 2024 and IPO will close on 28 June 2024.
What is the open date of Vraj Iron and Steel IPO?
Vraj Iron and Steel IPO will open date from 26 June 2024.
What is the last date ( close date ) of Vraj Iron and Steel IPO?
Vraj Iron and Steel IPO will close from 28 June 2024.
What is the price band of Vraj Iron and Steel IPO?
Vraj Iron and Steel IPO price band is ₹195 to ₹207. ( Upper Price Band: ₹207, Lower Price Band: ₹195 )
What is the minimum amount required to apply for Vraj Iron and Steel IPO?
The minimum investment for retailers to apply for Vraj Iron and Steel IPO is ₹14,904 and the maximum investment is ₹193,752.
What is going on gray market premium of Vraj Iron and Steel IPO?
View gray market premium of Vraj Iron and Steel IPO by Clicking Here
How much is the GMP of Vraj Iron and Steel IPO?
Watch Vraj Iron and Steel IPO GMP Today: Click Here
What is the allotment date of Vraj Iron and Steel IPO?
The allotment date of Vraj Iron and Steel IPO is 1 July 2024.
How to check allotment status in Vraj Iron and Steel IPO?
To check the allotment status of Vraj Iron and Steel IPO, first of all go to the registrar website by clicking here, select your bad Vraj Iron and Steel IPO name or enter your bad application number, PAN number or client ID and click on submit. ( Video Link )
What is the listing date of Vraj Iron and Steel IPO?
The listing date of Vraj Iron and Steel IPO is 3 July 2024.
How much will be the listing gain in Vraj Iron and Steel IPO?
View listing gain of Vraj Iron and Steel IPO by Clicking Here
How much time Vraj Iron and Steel IPO is subscribed?
Total 126.36 times subscribed in Vraj Iron and Steel IPO out of which 58.31 times subscription was done in retail quota, 221.66 times subscription in NII quota and 173.99 times subscription in QIB quota.
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