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Vraj Iron IPO is a book build issue of ₹171.00 crores. The issue is entirely a fresh issue of 0.83 crore shares of ₹171.00 crore.
Vraj Iron IPO bidding started from Jun 26, 2024 and ended on Jun 28, 2024. The allotment for Vraj Iron IPO was finalized on Jul 1, 2024. The shares got listed on BSE, NSE on Jul 3, 2024.
Vraj Iron IPO price band is set at ₹207.00 per share . The lot size for an application is 72. The minimum amount of investment required by an retail is ₹14,040 (72 shares). The lot size investment for sNII is 14 lots (1,008 shares), amounting to ₹2,08,656, and for bNII, it is 68 lots (4,896 shares), amounting to ₹10,13,472.
Aryaman Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Vraj Iron IPO RHP for detailed Information.
| IPO Date | June 26, 2024 to June 28, 2024 |
| Listing Date | July 3, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹195 to ₹207 per share |
| Issue Price Final | ₹207 per share |
| Lot Size | 72 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 82,60,869 shares (aggregating up to ₹171.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,47,21,750 shares |
| Share Holding Post Issue | 3,29,82,620 shares |
Vraj Iron and Steel IPO offers total 82,60,869 shares. Out of which 41,30,433 (50.00%) allocated to QIB, 16,52,174 (20.00%) allocated to QIB, 12,39,131 (15.00%) allocated to NII, 28,91,305 (35.00%) allocated to RII and 24,78,259 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 41,30,433 (50.00%) | NA |
| − Anchor Investor Shares Offered | 24,78,259 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 16,52,174 (20.00%) | NA |
| NII (HNI) Shares Offered | 12,39,131 (15.00%) | NA |
| − bNII > ₹10L | 8,26,088 (10.00%) | 819 |
| − sNII < ₹10L | 4,13,043 (5.00%) | 409 |
| Retail Shares Offered | 28,91,305 (35.00%) | 40,157 |
| Total Shares Offered | 82,60,869 (100.00%) |
Vraj Iron IPO raises ₹51.30 crore from anchor investors. Vraj Iron IPO Anchor bid date is June 25, 2024. Vraj Iron IPO Anchor Investors list
| Bid Date | June 25, 2024 |
| Shares Offered | 24,78,259 |
| Anchor Portion Size (In Cr.) | 51.30 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 31, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 29, 2024 |
Vraj Iron IPO opens on June 26, 2024, and closes on June 28, 2024.
| IPO Open Date | Wed, Jun 26, 2024 |
| IPO Close Date | Fri, Jun 28, 2024 |
| Tentative Allotment | Mon, Jul 1, 2024 |
| Initiation of Refunds | Tue, Jul 2, 2024 |
| Credit of Shares to Demat | Tue, Jul 2, 2024 |
| Tentative Listing Date | Wed, Jul 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Jun 28, 2024 |
Investors can bid for a minimum of 72 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 72 | ₹14,904 |
| Retail (Max) | 13 | 936 | ₹1,93,752 |
| S-HNI (Min) | 14 | 1,008 | ₹2,08,656 |
| S-HNI (Max) | 67 | 4,824 | ₹9,98,568 |
| B-HNI (Min) | 68 | 4,896 | ₹10,13,472 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in June 2004, Vraj Iron and Steel Limited manufactures Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj.
The company runs two manufacturing plants in Raipur and Bilaspur, Chhattisgarh, covering 52.93 acres. As of March 31, 2023, the total installed capacity of the manufacturing plants was 231,600 tons per year, including intermediate and final products.
The company currently has a production capacity of 57,600 TPA of MS Billets, which its rolling mills can use to manufacture TMT Bars with a production capacity of 54,000 TPA.
The company's product portfolio comprises offerings such as Sponge Irons, TMT Bars, MS Billets, and by-products Dolochar, Pellets, and Pig Iron, which cater to a mix of industrial customers and end-users.
The Raipur Plant has achieved the Environmental Management System Certification under the new ISO 14001:2015 standard.
As of June 30, 2023, the company has a workforce of 533, including 298 permanent employees, 7 at the Registered Office, 200 at the Raipur Plant, 87 at the Bilaspur Plant, and 235 contract workers.
Vraj Iron and Steel Limited's revenue increased by 24.87% and profit after tax (PAT) rose by 88.12% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 253.05 | 191.54 | 150.77 | 126.33 |
| Total Income | 304.81 | 517.42 | 414.38 | 290.93 |
| Profit After Tax | 44.58 | 54.00 | 28.70 | 10.99 |
| Net Worth | 187.50 | 140.92 | 87.14 | 57.79 |
| Reserves and Surplus | 162.78 | 135.97 | 82.19 | 52.85 |
| Total Borrowing | 49.30 | 22.98 | 42.51 | 45.78 |
| Amount in ₹ Crore | ||||
The market capitalization of Vraj Iron IPO is ₹682.74 Cr.
KPI as of Sun, Dec 31, 23.
| KPI | Values |
|---|---|
| ROE | 23.78% |
| ROCE | 25.34% |
| Debt/Equity | 0.27 |
| RoNW | 23.78% |
| PAT Margin | 3.61% |
| Price to Book Value | 2.73 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 21.84 | 18.02 |
| P/E (x) | 9.48 | 11.49 |
The company proposes to utilise the Net Proceeds in the following manner.
[Dilip Davda] The company is engaged in sponge iron, TM Bars, M S Billets manufacturing and marketing. With its captive power plants, it plays with efficient cost management. It has posted good performances so far and post expansion, the company is confident of maintaining the trends. Based on FY24 annualized earnings, the issue appears reasonably priced. Investors may lap it up for medium to long term. Read detail review...
| Listing Date | July 3, 2024 |
| BSE Script Code | 544204 |
| NSE Symbol | VRAJ |
| ISIN | INE0S2V01010 |
| Final Issue Price | ₹207 per share |
| BSE Listing Group | T |
Vraj Iron & Steel Ltd.
First Floor, Plot No 63 & 66, Ph No 113
Mother Teresa Ward No. 43
3, Jalvihar Colony, Raipur-492001
Raipur, Chhattisgarh
Phone: +91-771-4059002
Email: info@vrajtmt.in
Website: https://www.vrajtmt.in/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Vraj Iron IPO is a main-board IPO of 82,60,869 equity shares of the face value of ₹10 aggregating up to ₹171.00 Crores. The issue is priced at ₹207 per share. The minimum order quantity is 72.
The IPO opens on June 26, 2024, and closes on June 28, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Vraj Iron IPO using UPI as a payment gateway. Zerodha customers can apply in Vraj Iron IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Vraj Iron IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Vraj Iron IPO opens on June 26, 2024 and closes on June 28, 2024.
Vraj Iron IPO lot size is 72, and the minimum amount required for application is ₹14,904.
You can apply in Vraj Iron IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Vraj Iron IPO will be done on Monday, July 1, 2024, and the allotted shares will be credited to your demat account by Tuesday, July 2, 2024. Check the Vraj Iron IPO allotment status.
The Vraj Iron IPO listing date is on Wednesday, July 3, 2024.
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