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VIVRAJListed

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×
Current price₹124.95
Listing price ₹240
Watch live price ↗
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

CategoryLotsSharesAmount
RETAIL172₹14,904
sHNI141,008₹2,08,656
bHNI684,896₹10,13,472

Share reservation

Retail35%
NII(HNI)15%
QIB20%

Subscription & GMP

Subscription by category

Total subscribed126.36×

Missing multiples are calculated from bids and offered shares when available.

QIB173.99×
NIB221.66×
HNIs(10L +)217.5×
HNIs (2-10L)229.99×
RETAIL58.31×

GMP history

025506 Mar: ₹5014 Nov: ₹5026 Nov: ₹50
6 Mar₹5026 Nov

Application-wise demand

CategoryReserved applicationsApplied applications
HNIs (10L+) 82033,598
HNIs (2-10L) 41089,252
RETAIL40,15721,04,492

Subscription demand

Amounts in ₹ crore. HNI subcategories are included in the NII total.

CategoryOfferedDemand
QIBs34.25,950.5
RETAIL59.853,489.61
HNIs 2+8.551,966.45
HNIs 10+17.13,719.2

Financial performance

Company financials

in Crores · Reported periods may include interim results.

Revenue & profit in Crores
0200400600Mar-21 · Revenue: 290.93Mar-21 · Profit after tax: 10.99Mar-21Mar-22 · Revenue: 414.38Mar-22 · Profit after tax: 28.7Mar-22Mar-23 · Revenue: 517.42Mar-23 · Profit after tax: 54Mar-23Dec-23 · Revenue: 304.81Dec-23 · Profit after tax: 44.58Dec-23
RevenueProfit after tax

Key performance indicators

Metric Dec-23 Mar-23 Mar-22
EPS18.0321.8411.61
ROE23.7838.3232.94
ROCE25.3444.9832.14
RONW23.7838.3232.94
PRE IPO(PE)9.4800
POST IPO(PE)11.4900

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

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.