Vraj Iron and Steel IPO : Positive News about the Vraj Iron and Steel IPO GMP and Price range between ₹195-₹207

The Initial Public Offer (IPO) of Vraj Iron and Steel Limited has opened today, allowing retail investors to participate until June 28. The company’s shares are set to be listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on July 3.

Vraj Iron and Steel, a manufacturer of sponge iron, MS billets, and TMT bars, is launching its IPO for retail investors today, June 26. The company aims to raise Rs 171 crore exclusively through a fresh issue of shares. The IPO comprises 8,260,870 shares in total. Prior to opening to retail investors, Vraj Iron and Steel offered shares to anchor investors, securing Rs 51 crore in funding the day before the public offering.

Aryaman Financial Services Limited is the lead manager for the IPO, and Bigshare Services Pvt Ltd is the registrar.

About Vraj Iron & Steel Limited

Vraj Iron & Steel Limited produces sponge iron, M.S. billets, and TMT bars marketed under the Vraj brand, along with by-products such as dolocher, pellets, and pig iron. The company operates two manufacturing facilities situated in Raipur and Bilaspur, Chhattisgarh, with a combined installed capacity of 231,600 tonnes per annum as of March 31, 2023. The Raipur plant has been certified for Environmental Management System compliance under the ISO 14001:2015 standard. The company’s promoters include Gopal Sponge and Power Private Limited, V.A. Transport Private Limited, and Vijay Anand Jhanwar.

Vraj Iron and Steel IPO Price Band

Vraj Iron & Steel IPO price band has been fixed between Rs 195 to Rs 207 per equity share,
the face value of which is Rs 10.

For Price–

How much reserve for whom

In Vraj Iron and Steel’s IPO, 35% is allocated for retail investors, 50% for qualified institutional buyers, and 15% for non-institutional investors. Retail investors can bid for a minimum of one lot (72 shares) with a minimum investment of Rs 14,904 at the upper price band of Rs 207. The maximum investment allowed for retail investors is Rs 1,93,752 for 13 lots (936 shares).

Vraj Iron and Steel IPO lot size

Vraj Iron & Steel IPO lot size is 72 equity shares and thereafter in multiples of 72
equity shares.