Vraj Iron and Steel Limited IPO

Mainboard

Sponge Iron

Listed On: Jul 3, 2024 at ₹ 240.0(NSE)

₹ 14904 /72 Shares

Check Allotment

Price Summary

Last Closing

245.99 (18.84%)

52 Week High

276.84

52 Week Low

209.90

Last Update

19-Sep-2024 3:30 PM

Vraj Iron and Steel Limited IPO Details

26 Jun, 2024

Open Date

28 Jun, 2024

Close Date

01 Jul, 2024

Allotment Date

03 Jul, 2024

Listing Date

Issue Price

₹195-207 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Bigshare Services Pvt Ltd

List Price

240.0(NSE)

Listing Date

2024-07-03

Market Lot

Retail : 72 Shares (₹14,904/-)
S-HNI : 1,008 Shares (₹2,08,656/-)
B-HNI : 4,896 Shares (₹10,13,472/-)

Lead Manager

Aryaman Financial Services Limited

Issue Size

8,260,870 shares(aggregating up to ₹171.00 Cr)

Retail Portion

35% (Number of Retail Applications: 40,157 Approx),
(Number of S-HNI Applications : 410 Approx),
(Number of B-HNI Applications : 820 Approx)

Subscription

126.36 times

IPO Docs

DRHP RHP ANCHOR

Vraj Iron and Steel Limited IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	1,652,174	1,239,130 826,087 413,043	2,891,305	5,782,609
Day 1 - 26-06-24 05:00 PM	0.61 x	3.53 2.83 x 5.60 x	5.07 x	3.46 x
Day 2 - 27-06-24 05:00 PM	0.91 x	34.61 29.63 x 44.57 x	20.75 x	18.07 x
Day 3 - 28-06-24 05:00 PM	173.99 x	221.66 217.50 x 229.99 x	58.31 x	126.36 x

Total No. of Applications: 22,25,789 (Approx)

Vraj Iron and Steel Limited Valuations

EPS Pre IPO

₹21.84/-

EPS Post IPO

₹18.02/-

P/E Pre IPO

9.48

P/E Post IPO

11.49

RoNW

23.78%

Vraj Iron and Steel Limited Company Financials All values are in ₹ Cr.

	31-Mar-23	31-Mar-22	31-Mar-21
Assets	191.54	150.77	126.33
Revenue	517.42	414.38	290.93
Profit After Tax	54.00	28.70	10.99
Net Worth	140.92	87.14	57.79
Reserves & Surplus	135.97	82.19	52.85
Total Borrowing	22.98	42.51	45.78

About The Company

Vraj Iron and Steel Limited manufactures Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj.

The company runs two manufacturing plants in Raipur and Bilaspur, Chhattisgarh, covering 52.93 acres. As of March 31, 2023, the total installed capacity of the manufacturing plants was 231,600 tons per year, including intermediate and final products.

The company currently has a production capacity of 57,600 TPA of MS Billets, which its rolling mills can use to manufacture TMT Bars with a production capacity of 54,000 TPA.

The company's product portfolio comprises offerings such as Sponge Irons, TMT Bars, MS Billets, and by-products Dolochar, Pellets, and Pig Iron, which cater to a mix of industrial customers and end-users.

The Raipur Plant has achieved the Environmental Management System Certification under the new ISO 14001:2015 standard.

As of June 30, 2023, the company has a workforce of 533, including 298 permanent employees, 7 at the Registered Office, 200 at the Raipur Plant, 87 at the Bilaspur Plant, and 235 contract workers.

Vraj Iron and Steel Limited - Strength and Weakness

Strength

Integrated steel plants in Bilaspur and Raipur, Chhattisgarh, enhance efficiency.

Total installed capacity of 231,600 TPA across two plants.

Backward integration ensures control over production and quality.

Captive power plant with 5MW capacity reduces energy costs.

Diverse product portfolio including Sponge Iron, TMT Bars, MS Billets.

Consistent financial growth with a CAGR of 33.4% (FY21-FY23).

Weakness

Geographical concentration risks due to facilities in Chhattisgarh.

Revenue is vulnerable to steel industry demand and price volatility.

Negative cash flows from operations impact financial stability.

Expansion project relies on capital expenditure of ₹1,295 million.

Delay in expansion may result in time and cost overruns.

Majority of revenue from top 10 customers risks financial stability.

Vraj Iron and Steel Limited - Promoter(s)

Pre Issue Share Holding: N/A%

Post Issue Share Holding: N/A%

Company Promoter(s)

Gopal Sponge and Power Private Limited
V. A. Transport Private Limited
Vijay Anand Jhanwar

Vraj Iron and Steel Limited IPO - Issue Objectives

Funding for Capital Expenditure towards the Expansion Project at Bilaspur Plant
Repayment or prepayment of borrowings from HDFC Bank obtained by the company for the capital expenditure towards the Expansion Project at Bilaspur Plant
Capital expenditure towards the Expansion Project at Bilaspur Plant.
General Corporate Purposes.

Vraj Iron and Steel Limited IPO - Anchor Investors

Vraj Iron and Steel collects Rs 51 crore from anchor investors.

Those who have been allocated shares are — Volrado Venture Partners Fund IV, Capri Global Housing Finance, Ashika Global Securities, Rajasthan Global Securities, Leading Light Fund VCC – The Triumph Fund and Astorne Capital VCC-Arven, according to a circular uploaded on the BSE website.

Other Details

Company Contact Details

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/

Registrar Contact Details

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

Email: ipo@bigshareonline.com

Website: https://ipo.bigshareonline.com/ipo_status.html

Vraj Iron and Steel Limited IPO - FAQs

Ans. Vraj Iron and Steel Limited IPO is a Mainboard IPO. The issue is priced at ₹195-207 per equity share. The minimum order quantity is 72 Shares. The IPO opens on Jun 26, 2024, and closes on Jun 28, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Vraj Iron and Steel Limited IPO opens on Jun 26, 2024 and closes on Jun 28, 2024.

Ans. The size of Vraj Iron and Steel Limited IPO is 8,260,870 shares(aggregating up to ₹171.00 Cr).

Ans. The IPO price band is set between ₹195-207 per equity share.

Ans. To apply for Vraj Iron and Steel Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Vraj Iron and Steel Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Vraj Iron and Steel Limited IPO is Jul 1, 2024.

Ans. The Vraj Iron and Steel Limited IPO will be listed on Jul 3, 2024.

Ans. Follow the steps to check the allotment status for Vraj Iron and Steel Limited IPO here.