Vraj Iron and Steel Limited IPO is set to launch on 26 June, 2024. The company initiated its business operations in 2004. It manufactures M.S. Billets, Sponge Iron and TMT bars. The company sells its products under the brand name Vraj. Its manufacturing facility is located in Bilaspur. The annual capacity of production is around 231600 tons. Product portfolio of the company includes TMT Bars, Sponge Irons, MS Billets, Pellets, Dolochar, Pig Iron etc. It has an employee base of 533 people among which 298 are permanent employees.
Vraj Iron and Steel Limited IPO DETAILS
Vraj Iron and Steel Limited IPO is set to launch on 26 June, 2024. The subscription timeline extends till 28 June, 2024. The size for the IPO is Rs. 171 Crore. Shares issued through fresh issue mode are worth Rs 171 Crore. No shares are issued through offer for sale mode. The lot size is 72 shares and the price is Rs. 195 to Rs. 207 per share. The company is going to get listed at BSE and NSE. The face value per share is Rs. 10 and this is a Book Built Issue. The registrar for the company is BigShare Services Private Limited.
Tabular Description of Vraj Iron and Steel Limited IPO
| IPO OPENING DATE | 26 June, 2024 |
| CLOSING DATE FOR IPO | 28 June, 2024 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | Rs. 10 per share |
| IPO price band | Rs. 195 to Rs. 207 per share |
| LOT SIZE | 72 shares |
| MINIMUM ORDER QUANTITY | 72 shares |
| ISSUE SIZE | Rs. 171 Crore |
| OFFER FOR SALE | No shares are issued through offer for sale mode |
| FRESH ISSUE | Rs. 171 Crore |
| LISTING AT | BSE & NSE |
| LISTING DATE | 3 July, 2024 |
Vraj Iron and Steel Limited IPO: IMPORTANT DATES
| IPO OPENING DATE | 26 June, 2024 |
| CLOSING DATE FOR IPO | 28 June, 2024 |
| IPO ALLOTMENT DATE | 1 July 2024 |
| REFUNDS | 2 July, 2024 |
| DEMAT A/C CREDITED ON | 2 July, 2024 |
| IPO LISTING DATE | 3 July, 2024 |
Vraj Iron and Steel Limited IPO begins for subscription from 26 June 2024. The IPO subscription would continue till 28 June, 2024. The allotment status for the shareholders who applied would come on 1 July, 2024. The refunds for the ones who did not get allotment would be initiated on 2 July, 2024. The DEMAT accounts of shareholders would be credited on 2 July, 2024. The listing of the company would be completed on 3 July, 2024.
Vraj Iron and Steel Limited IPO: Lead Managers
The lead managers are :
- Aryaman Financial Services Limited
The minimum lot size for retail investors is 72 shares, amounting to Rs. 14904. The maximum lot size for retail investors is 936 shares, amounting to Rs. 193752. The minimum and maximum lot size for S-HNI and B-HNI are as under:
| Lots | Shares | Amount | |
| Retail (Minimum) | 1 | 72 shares | Rs. 14904 |
| Retail (Maximum) | 13 | 936 shares | Rs. 193752 |
| S-HNI (Minimum) | 14 | 1008 shares | Rs. 209656 |
| S-HNI (Maximum) | 67 | 4824 shares | Rs. 998568 |
| B-HNI (Maximum) | 68 | 4896 shares | Rs. 1013472 |
OBJECTIVES FOR THE IPO
- The IPO money will be used for funding the Expansion project in Bilaspur Plant.
- General corporate purposes.
COMPANY FINANCIALS
| Particularly (in Rs. Crore) | 2020-21 | 2021-22 | 2022-23 | Dec-2023 |
| Asset | 126.33 | 150.77 | 191.54 | 253 |
| Revenue | 290.9 | 414.3 | 517.4 | 304.8 |
| PAT | 10.9 | 28.7 | 54 | 44.5 |
Vraj Iron and Steel Limited had an asset base of 126 Crore Rs in 2021 which increased to 150 Crore Rs in 2022. The asset base of the firm was at 191 Crore Rs in 2023. In December 2023 the same was at 253 Crore Rs. The revenue of the company was 290 Crore Rs in 2021. This increased to 414 Crore Rs in 2022. The revenue of the company was at 517 Crore Rs in 2023. In December 2023 the revenue was at 304 Crore Rs. Profit of the company was at 10.9 Crore Rs in 2021 which increased to 28.7 Crore Rs in 2022. The profit for the year 2023 was 54 Crore Rs in 2023. In December 2023 the profit of the company was at 44.5 Crore Rs.
PROS
- The company sells its products under the brand name Vraj. Its manufacturing facility is located in Bilaspur. The annual capacity of production is around 231600 tons.
- Product portfolio of the company includes TMT Bars, Sponge Irons, MS Billets, Pellets, Dolochar, Pig Iron etc.
- It has an employee base of 533 people among which 298 are permanent employees.
Vraj Iron and Steel Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Vraj Iron and Steel Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
