Vraj Iron and Steel Limited
Book Built Issue IPO · NSE, BSE
- Price band
- ₹195 - ₹207
- Lot size
- 72 shares
- Issue amount
- ₹171 cr
- Total subscription
- 126.36×
- Opens
- 26 Jun 2024
- Closes
- 28 Jun 2024
- Allotment
- 1 Jul 2024
- Listing
- 3 Jul 2024
Offer at a glance
Issue overview
- Issue size
- 82,60,870 shares
- Face value
- ₹10 Per Equity Share
- Minimum investment
- ₹14,040
- Fresh issue
- ₹171 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,904
- Issue type
- Book Built Issue IPO
- Shares before issue
- 2,47,21,750
- Shares after issue
- 3,29,82,620
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 72 | ₹14,904 |
| sHNI | 14 | 1,008 | ₹2,08,656 |
| bHNI | 68 | 4,896 | ₹10,13,472 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| HNIs (10L+) | 820 | 33,598 |
| HNIs (2-10L) | 410 | 89,252 |
| RETAIL | 40,157 | 21,04,492 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 34.2 | 5,950.5 |
| RETAIL | 59.85 | 3,489.61 |
| HNIs 2+ | 8.55 | 1,966.45 |
| HNIs 10+ | 17.1 | 3,719.2 |
Financial performance
Company financials
in Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| EPS | 18.03 | 21.84 | 11.61 |
| ROE | 23.78 | 38.32 | 32.94 |
| ROCE | 25.34 | 44.98 | 32.14 |
| RONW | 23.78 | 38.32 | 32.94 |
| PRE IPO(PE) | 9.48 | 0 | 0 |
| POST IPO(PE) | 11.49 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Vraj Iron and Steel Limited, incorporated in June 2004, is a leading manufacturer of Sponge Iron, M.S. Billets, and TMT bars under the Vraj brand. The company operates two manufacturing plants in Raipur and Bilaspur, Chhattisgarh, spanning 52.93 acres, with a total installed capacity of 231,600 TPA as of March 31, 2023. Its production capacity includes 57,600 TPA of MS Billets, which feed its rolling mills to produce TMT Bars with a capacity of 54,000 TPA. Vraj's diverse product portfolio consists of Sponge Iron, TMT Bars, MS Billets, and by-products like Dolochar, Pellets, and Pig Iron, catering to industrial clients and end-users. The Raipur Plant holds ISO 14001:2015 Environmental Management System Certification, reflecting its commitment to sustainability. As of June 30, 2023, the company employs 533 personnel, including 298 permanent employees and 235 contract workers, spread across its registered office and manufacturing plants.
Strengths
- Vraj Iron and Steel Limited has a strong and efficient manufacturing setup with plants in Raipur and Bilaspur, Chhattisgarh. These locations help keep costs low and ensure a smooth supply chain.
- The company offers a wide range of products, including Sponge Iron, TMT Bars, MS Billets, and by-products like Dolochar, Pellets, and Pig Iron. This variety allows them to serve many different industries and keeps their business stable.
- Vraj is also committed to sustainability, with its Raipur plant certified for environmental management (ISO 14001:2015). The company relies on a skilled team of 533 employees, including 298 permanent staff, to maintain high-quality production and smooth operations.
Risk factors
- Location Risks: Both its current and upcoming manufacturing plants are in Raipur and Bilaspur, Chhattisgarh. This means the company could be affected by local economic downturns, political issues, or natural disasters.
- Financial Struggles: The company has experienced negative cash flows in recent years, meaning it has spent more money than it has earned. If this continues, it could affect future growth and stability.
- Expansion Challenges: The company's growth plans depend on securing enough funding for its Bilaspur expansion. If it can't raise the required funds, it may face delays or financial strain.
Promoters
Gopal Sponge and Power Private Limited
V. A. Transport Private Limited
Vijay Anand Jhanwar
Registrar & documents
Lead manager
Aryaman Financial Services Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
First Floor, Plot No 63 & 66, Ph No 113, Mother Teresa Ward No. 43, 3, Jalvihar Colony, Raipur-492001
+91-771-4059002
[email protected]Company website ↗Understanding VRAJ IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.