Vraj Iron & Steel IPO
IPO Listing Details
- Listing Date
03 Jul 2024
- Listing Price
₹240.00
- Listing Change
15.94%
- Last Traded Price
₹222.69
IPO Details
- Open Date
26 Jun 2024
- Close Date
28 Jun 2024
- IPO
Price Range
₹ 195 to ₹ 207
- IPO
Size
₹ 171 Cr
- Listing Exchange
BSE, NSE
- Listing Date
03 Jul 2024
IPO Timeline
Vraj Iron & Steel IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 26-Jun-24 | 0.65 | 3.78 | 5.52 | 3.75 |
| 27-Jun-24 | 0.97 | 34.65 | 20.88 | 18.14 |
| 28-Jun-24 | 173.99 | 221.66 | 58.31 | 126.36 |
Last Updated: 29 July 2024 6:03 PM by 5Paisa
Last Updated: 28th June 2024, 18:10 PM by 5paisa
Vraj Iron and Steel IPO is set to open from 26th June to 28th June 2024. The company manufactures Sponge Iron, M.S. Billets, and TMT bars. The IPO includes a fresh issue of 8,260,870 shares worth ₹171 cr. The share allotment date is 1st July 2024, and the IPO will be listed on 3rd July 2024 on the stock exchanges. The price band is set at ₹195 to ₹207 and the lot size is 72 shares.
Aryaman Financial Services Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar.
Objectives of Vraj Iron and Steel IPO
● To fund the "Expansion Project" at Bilaspur Plant in two ways i) by repaying or prepaying borrowings obtained from HDFC Bank ii) by funding the capital expenditure.
● For general corporate purposes.
Vraj Iron and Steel IPO Video
Vraj Iron and Steel IPO Size
| Types | Size (₹Cr) |
|---|---|
| Total IPO size | 171.00 |
| Offer for sale | - |
| Fresh issue | 171.00 |
Vraj Iron and Steel IPO Lot Size
| 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 Reservation
| Investors Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Cr.) |
|---|---|---|---|---|
| QIB | 173.99 | 16,52,174 | 28,74,63,888 | 5,950.50 |
| NII (HNI) | 221.66 | 12,39,130 | 27,46,68,192 | 5,685.63 |
| Retail | 58.31 | 28,91,305 | 16,85,80,152 | 3,489.61 |
| Total | 126.36 | 57,82,609 | 73,07,12,232 | 15,125.74 |
Vraj Iron and Steel IPO Anchor Allocation
| Anchor Bid Date | 25 June, 2024 |
| Total no. of shares offered | 2,478,259 |
| Portion Size for Anchor Investors | 51.30 Cr. |
| Lock in Period for 50% shares (30 days) | 31 July, 2024 |
| Lock in Period for rest of shares (90 days) | 29 September, 2024 |
Established in 2004, Vraj Iron and Steel Limited manufactures Sponge Iron, M.S. Billets, and TMT bars. The company also sells its by-products Dolochar, Pellet and Pig Iron. It has an ISO 14001: 2015 certification.
The company has two manufacturing units based in Raipur and Bilaspur in Chhattisgarh with a combined installed capacity of 2,31,600 tons per annum (TPA) and the company is working to increase this to o 5,00,100 TPA. Its Raipur manufacturing unit also has a captive power plant with an installed capacity of 5 MW as of December 2023, which the company is planning to increase to 20 MW. The total headcount of the company’s employees as of December 2023 was 531.
Peer Comparison
● Sarda Energy & Minerals Limited
● Godawari Power & Ispat Limited
● Shyam Metalics and Energy Limited
For More Information
Webstory on Vraj Iron and Steel IPO
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 515.67 | 414.04 | 290.70 |
| EBITDA | 81.31 | 49.66 | 29.10 |
| PAT | 59.99 | 28.70 | 10.98 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 191.53 | 150.77 | 126.33 |
| Share Capital | 4.94 | 4.94 | 4.94 |
| Total Borrowings | 50.62 | 63.63 | 68.54 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 62.87 | 8.74 | 22.20 |
| Net cash from / (used in) investing activities | -40.36 | -1.35 | -6.00 |
| Net cash flow from / (used in) financing activities | -22.51 | -7.21 | -16.14 |
| Net increase (decrease) in cash and cash equivalents | -0.014 | 0.17 | 0.058 |
Strengths
1. The company has an integrated and well-established manufacturing setup.
2. Its manufacturing plants are strategically located, and supported by robust architecture, leading to cost efficiencies and a stable supply chain.
3. Quantity and Average price of coal procured by the Company is a big advantage.
4. The company has a diversified product mix with a strong focus on value-added products.
5. It also has a consistent track record of growth and financial performance.
6. Experienced Board and senior management team.
Risks
1. The company faces substantial competition from domestic steel producers.
2. It has reported negative cash flows in the past.
3. Both the manufacturing plants are based in the same state.
4. High working capital requirements.
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FAQs
Vraj Iron and Steel IPO opens from 26th June to 28th June 2024.
The size of Vraj Iron and Steel IPO is ₹171 cr.
To apply for Vraj Iron and Steel IPO, follow the steps given below:
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for Vraj Iron and Steel IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The price band of Vraj Iron and Steel IPO is set at ₹195 to ₹207 per share.
The minimum lot size of Vraj Iron and Steel IPO is 72 shares and the minimum investment required to apply for the IPO is ₹14,040.
The share allotment date of Vraj Iron and Steel IPO is 1st July 2024.
The Vraj Iron and Steel IPO will be listed on 3rd July 2024.
Aryaman Financial Services Limited is the book-running lead manager for Vraj Iron and Steel IPO.
Vraj Iron and Steel will use the proceedings from the public issue for:
● To fund the "Expansion Project" at Bilaspur Plant in two ways i) by repaying or prepaying borrowings obtained from HDFC Bank ii) by funding the capital expenditure.
● For general corporate purposes.
Contact Information
Vraj Iron & Steel
Vraj Iron and Steel Limited
First Floor, Plot No 63 & 66, Ph No 113
Mother Teresa Ward No. 43
3, Jalvihar Colony, Raipur-492001
Phone: +91-771-4059002
Email: info@vrajtmt.in
Website: https://www.vrajtmt.in/
Vraj Iron & Steel IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Vraj Iron & Steel IPO Lead Manager
Aryaman Financial Services Limited
