Vraj Iron & Steel Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 4,130,433 (50%) | — | ₹8,550 Cr |
| NII (HNI) | — | 1,239,131 (15%) | — | ₹2,565 Cr |
| Retail | — | 2,891,305 (35%) | — | ₹5,985 Cr |
| Σ Total | — | 8,260,869 (100%) | — | ₹171,000 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 72 | ₹14,904 |
| Retail (Max) | 13 | 936 | ₹193,752 |
| S-HNI (Min) | 14 | 1,008 | ₹208,656 |
| B-HNI (Min) | 67 | 4,824 | ₹998,568 |
Financial Statements Amount in Crore
| Metric | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Revenue | 305 | 517 | 414 |
| Profit After Tax | 45 | 54 | 29 |
| Net Worth | 188 | 141 | 141 |
| Total Assets | 253 | 192 | 151 |
| Reserves & Surplus | 163 | 136 | 82 |
| Total Borrowing | 49 | 23 | 43 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 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; and –
- Capital expenditure towards the "Expansion Project" at Bilaspur Plant. –
- General Corporate Purposes. –
Company Overview
Incorporated in June 2004, 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.