Vraj Iron and Steel IPO Surges 15.94% on NSE and BSE

Vraj Iron and Steel IPO - Lists 15.94% Higher on NSE and BSE

Vraj Iron and Steel had a strong listing on 03rd July 2024, opening at ₹240.00 per share, a premium of 15.94% over the issue price of ₹207 per share. Here is the pre-open price discovery for the Vraj Iron and Steel IPO on the NSE as of 9.50 am.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: NSE

The mainboard IPO of Vraj Iron and Steel was a book built IPO with a price band of ₹195 to ₹207 per share. The price was discovered at the upper end of the band at ₹207 per share after a robust subscription response of over 126X and the anchor allocation also happening at the upper band of ₹207 per share, a day ahead of the IPO opening. On 03rd July 2024, the stock of Vraj Iron and Steel listed on the NSE Mainboard segment at a price of ₹240.00 per share, a premium of 15.94% over the IPO issue price of ₹207. For the day, the upper circuit price has been set at ₹252.00 and the lower circuit price has been set at ₹228.00.

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As of 10.11 am, the volumes were 18.10 lakh shares while the turnover (value) was at ₹44.23 crore on NSE. The stock has a face value of ₹10 per share and the applicable margin rate is 100.00%. The opening market cap of the stock stands at ₹831.16 crore. The equity shares of the Vraj Iron and Steel will be listed and admitted to dealings on the Exchange with effect from (WEF) July 03, 2024. Trading will be in the Normal Market segment – Compulsory Demat (Rolling Settlement) for all investors. However, it must also be noted that the shares of Vraj Iron and Steel will be traded in the Trade for Trade Market segment in compulsory demat for all investors in BE series as the issue size is below ₹250 Crores. At 10.11 am, it is trading higher at ₹252.00 per share; which is +5.00% below the listing price. The stock is currently locked in the 5% upper circuit for the day. The stock of Vraj Iron and Steel trades with the following symbols: NSE Code (VRAJ), BSE Code (544204), and the shares have been credited to the demat accounts of allottees under the designated ISIN (INE0S2V01010).

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How Vraj Iron and Steel IPO Listed on BSE?

Here is a quick price discovery summary of Vraj Iron and Steel on the Bombay Stock Exchange (BSE) on the day of listing, 03rd July 2024. The pre-IPO period ends at 9.50 am and actual trading on the IPO stock starts at 10.00 am on listing day.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: BSE

The mainboard IPO of Vraj Iron and Steel was a book built IPO priced at the upper end of the band at ₹207 per share. On 03rd July 2024, the stock of Vraj Iron and Steel listed on the BSE mainboard segment at a price of ₹240.00 per share, a premium of 15.94% over the IPO issue price of ₹207. For the day, the upper circuit price has been set at ₹251.95 and the lower circuit price has been set at ₹228.00. As of 10.12 am, the volumes were 2.49 lakh shares while the turnover (value) was at ₹6.08 crore on BSE. The stock has a face value of ₹10 per share. The stock will be traded in the BE (Book Entry) Trade to Trade segment of the BSE in T+1 settlement cycle. The market cap of the stock stands at ₹831 crore while the free float market cap of the stock stands at ₹149.58 crore. At 10.12 am, the stock is trading +4.98% higher at ₹251.95 per share on the BSE and is locked at the upper circuit.