Vraj Iron & Steel Ltd

Steel

Offer Period :

26th to 6th Jun 2024

Vraj Iron and Steel Limited is a company in the iron and steel industry, manufacturing and distributing various steel products such as rods, sheets, Read more...and pipes. They may also offer fabrication and processing services.Read less

Vraj Iron & Steel Ltd IPO Details

IPO Date 26th to 6th Jun 2024 Minimum Investment ₹14904 / 1 Lots
Listing Date 2024-07-03 Maximum Investment ₹193752 / 13 Lots
Face Value ₹10 per share Total Issue Size ₹171 Crores
Price ₹195 to ₹207 per share Fresh Issue ₹171 Crores
Lot Size 1 Lots (72 Shares) Offer For Sale ₹ 0
Listing At BSE, NSE Retail Discount ₹ 0
Employee Discount ₹ 0    
IPO Date 26th to 6th Jun 2024
Listing Date 2024-07-03
Face Value ₹10 per share
Price ₹195 to ₹207 per share
Lot Size 1 Lots (72 Shares)
Listing At BSE, NSE
Employee Discount ₹0 Crores
Minimum Investment ₹14904 / 1 Lots
Maximum Investment ₹193752 / 13 Lots
Total Issue Size ₹171 Crores
Fresh Issue ₹171 Crores
Offer For Sale
Retail Discount ₹ 0

Tentative Timeline

Important dates for allocation and IPO listing.

26th Jun

IPO Starts

28th Jun

IPO Ends

1st Jul

Allotment Date

2nd Jul

Initiation of Refund

2nd Jul

Credit of Shares to Demat Account

3rd Jul

IPO Listing Date

Shareholder Pattern

  Pre-Issue Post-Issue
Promoter Group 99.99 0
Public Group 0.01 100

Vraj Iron & Steel Ltd IPO Reservation

QIB Shares Offered 1652174(20%)
NII (HNI) Shares Offered 1239130(15%)
Retail Shares Offered 2891305(35%)
Anchor Investor Shares Offered 2478261(30%)
Total Shares Offered 8260870
Total Shares With Anchor Investor 8260870

IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)---
Retail (Max)---
S-HNI (Min)---
S-HNI (Max)---

Vraj Iron & Steel Ltd IPO Registrar

Bigshare Services Pvt Ltd
Phone Number +91 22 6263 8200
Email Id ipo@bigshareonline.com
Our Website www.bigshareonline.com

Vraj Iron & Steel Ltd IPO Lead Manager

1. Aryaman Financial Services Ltd

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Vraj Iron & Steel Ltd IPO Subscription LIVE Status

Category No. of shares offered No. of shares bid No. of subscribed

Strength of Vraj Iron & Steel Ltd

1. Integrated and well-established manufacturing setup.

2. Manufacturing plants are strategically located, supported by robust architecture, leading to cost efficiencies and a stable supply chain.

3. Quantity and Average price of Coal procured by the company.

4. Diversified product mix with strong focus on value added products.

5. Experienced Promoter, Board, and management team.

6. Consistent track record of growth and financial performance.

Risks Involved

1. Both of its existing manufacturing facilities are concentrated in a single region i.e. Raipur and Bilaspur, Chhattisgarh. Further its Expansion Project is also being implemented at Bilaspur, Chhattisgarh and hence the company faces geographical concentration related risks.

2. 100% of its revenue is from sale of the company steel products such as TMT Bars, MS Billets, Sponge Iron & others related items. Volatility in the demand and pricing in the iron and steel industry is common and is cyclical in nature. A decrease in steel prices may have a material adverse effect on its business, results of operations, prospects and financial condition.

3. The company has had experienced negative cash flows from operating, investing and financing in the recent past, and its may have negative cash flows in the future. The company net cash flow for the period / years are set forth in the table below.

4. Capital expenditure to the tune of Rs. 1,295 million required towards the "Expansion Project" at Bilaspur would be funded out of the Net Proceeds of the Issue. Hence, the company has not made any alternate arrangements for the same. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations and financial performance.

5. Total capital expenditure for the Expansion Project is Rs.1,645 million and we have incurred Rs. 1,020 million till June 03, 2024. The company has not yet placed orders / made payment in relation to Rs. 625 million to be incurred for the Expansion Project. Any delay in placing the orders or inability of the vendors to provide the plant and machineries or complete the civil and related works etc. in a timely manner, or at all, the same may result in time and cost over-runs.

6. If the company is unable to successfully implement its Expansion Project, including Captive Power Plant, the company's results of operations and financial condition could be adversely affected.

7. A majority of its Directors of the Company do not have prior experience of being a director of a public listed company.

8. The company does not have long-term agreements with its customers and the company derives a significant portion of its revenues from its top 10 (ten) customers. The loss of, or a significant reduction in the revenues the company receive from, one or more of these customers which would have a material adverse effect on its business, results of operations and financial condition.

9. Its Directors and the company Promoter, namely, Gopal Sponge and Power Private Limited have provided personal and corporate guarantees to certain loan facilities availed by it, which if revoked may requires alternative arrangements guarantees, repayments of amounts due or termination of the facilities. Total sanctioned and outstanding amount of such loans are Rs.1,651.33 million and Rs. 492.99 million.

10. Its lenders have charge over the company movable and immovable properties in respect of finance availed by it. Its inability to meet the company obligations under our debt financing arrangements could adversely affect its business, results of operations and cash flows.

Why should you invest in

-

Financials

Particulars For the financial year ending (in ₹ million)
  2023 2022 2021
Total Assets 191.13 150.37 125.93
Total Liabilities 191.13 150.37 125.93
Total Expenses 448.42 377.2 276.53
Total Revenue 
517.42 414.38 290.93
Profit After Tax 54 28.7 10.98
EBITDA 81.31 49.66 29.1
Adjusted EBITDA 0 0 0

Vraj Iron & Steel Ltd IPO Listing Details

Listing Date BSE Script Code NSE Symbol ISIN Final Issue Price
2024-07-03 0 -
INE0S2V01010
₹0 per share

Listing Day Trading Information

Price Details BSE NSE
Final Issue Price ₹195 ₹0
Open ₹0 ₹0
Low ₹0 ₹0
High ₹0 ₹0
Low ₹0 ₹0

Frequently Asked Questions

What is Vraj Iron & Steel Ltd IPO?

Answer Field

Vraj Iron & Steel Ltd IPO is a Mainboard IPO of 82,60,870 equity shares of a face value of ₹10 aggregating up to ₹171 Crores. The issue is priced at ₹195 to ₹207 per share. The minimum order quantity is 72 Shares. The IPO opens on June 26, 2024, and closes on June 28, 2024. Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE,NSE.

When Vraj Iron & Steel Ltd IPO will open?

Answer Field

The Vraj Iron & Steel Ltd IPO opens on June 26, 2024 and closes on June 28, 2024.

What is the lot size of Vraj Iron & Steel Ltd?

Answer Field

Vraj Iron & Steel Ltd lot size is 72 shares, and the minimum amount required is ₹14,904.

How to apply for Vraj Iron & Steel Ltd IPO?

Answer Field

You can apply in Vraj Iron & Steel Ltd IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. To apply for an IPO:

• Login to Bajaj Broking account App/Website & click on IPO

• Enter the number of lots and price at which you wish to apply.

• Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

• You will receive a mandate notification to block funds in your UPI app.

• Approve the mandate request on your UPI and funds will be blocked.

When is Vraj Iron & Steel Ltd IPO allotment?

Answer Field

The finalization of Basis of Allotment for Vraj Iron & Steel Ltd IPO will be done on July 01, 2024, and the allotted shares will be credited to your demat account by July 02, 2024.

When is Vraj Iron & Steel Ltd IPO listing date?

Answer Field

The Vraj Iron & Steel Ltd listing date is July 03, 2024.

Who is the registrar of Vraj Iron & Steel Ltd IPO?

Answer Field

The registrar of Vraj Iron & Steel Ltd IPO is Bigshare Services Pvt Ltd

Which company is the book-running lead manager of the IPO?

Answer Field

Aryaman Financial Services Ltd will be the book-running lead manager of this IPO.

What is the fresh issue of Vraj Iron & Steel Ltd IPO?

Answer Field

The fresh issue size is ₹171 Crores equity shares.

What minimum lot size can retail subscribers subscribe to Vraj Iron & Steel Ltd?

Answer Field

Retail investors can subscribe to a minimum of one lot, 72 shares and ₹14,904 amount.

How can I approve the UPI mandate request for Vraj Iron & Steel Ltd IPO?

Answer Field

To apply for Vraj Iron & Steel Ltd IPO, you need to log in to your demat account to complete the bidding process. Then, approve the payment mandate on your UPI app.

What is the price range of Vraj Iron & Steel Ltd?

Answer Field

The price of each Vraj Iron & Steel Ltd share will be ranging in between ₹195 to ₹207 per share.

What is the cut-off time for the UPI mandate for Vraj Iron & Steel Ltd IPO?

Answer Field

The cut-off time for the UPI mandate confirmation is 5:00 PM, June 28, 2024.

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