Vraj Iron and Steel IPO (Vraj Iron and Steel Limited IPO)
Vraj Iron and Steel IPO open for bidding on 26th June 2024, and ends on 28th June 2024.
Vraj Iron & Steel Limited, originally founded as Phil Ispat Private Limited in 2004, is a prominent player in the manufacturing sector. The company began with the production of Sponge Iron at its Bilaspur plant and has since diversified into manufacturing MS Billets and TMT Bars.
In 2022, Vraj Iron & Steel achieved a significant revenue milestone of ₹4,000 million, which increased to ₹5,000 million in 2023 following a strategic acquisition and a name change to Vraj Iron and Steel Limited.
Looking ahead, Vraj Iron & Steel aims to expand its product line and enhance production capabilities to meet growing market demands. The company is also focused on integrating advanced technologies to improve efficiency and sustainability in its operations.
For more details refer to Vraj Iron and Steel IPO RHP and Vraj Iron and Steel IPO Pulse Score
Vraj Iron and Steel IPO Details
| IPO Date | 26th June 2024 to 28th June 2024 |
| Listing Date | [●] |
| Face Value | ₹10 per share |
| Price Band | ₹195 to ₹207 per share |
| Lot Size | 72 Shares |
| Total Issue Size | 86,16,721 shares (aggregating up to ₹171.00 Cr) |
| Fresh Issue | 86,16,721 shares (aggregating up to ₹171.00 Cr) |
| Issue Type | Book Built Issue IPO |
IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor | 24,78,259(28.7%) |
| QIB | 17,53,846(20.4%) |
| NII | 13,15,385(15.2%) |
| bNII | 8,76,924(10.1%) |
| sNII | 4,38,461(5.1%) |
| Retail | 30,69,231(35.6%) |
| Total | 86,16,721(100%) |
Vraj Iron and Steel IPO Timeline
| IPO Open | 26th June 2024 |
| IPO Close | 28th June 2024 |
| Basis Of Allotment | 1st July 2024 |
| Initiation of Refunds | 2nd July 2024 |
| Credit of Shares to Demat | 2nd July 2024 |
| Listing Date | 3rd July 2024 |
Fundamentals
Data as of 31st December 2023
| Market Cap | ₹ 682.74 Cr | P/E Ratio- Pre IPO | 9.48 |
| RoNW | 23.78% | P/E Ratio- Post IPO | 11.49 |
| RoCE | 25.34% | P/B Ratio | 2.73 |
| Debt to Equity | 0.27 | PAT Margin% | 14.79% |
Vraj Iron and Steel IPO Objectives
The company proposes to utilize the Net Proceeds towards the funding of the following objects:
- Repayment or prepayment of borrowings from HDFC Bank obtained by the Company for the capital expenditure towards the “Expansion Project” at Bilaspur Plant
- Capital expenditure towards the Expansion Project at Bilaspur Plant; and
- General corporate purposes
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