
Metals & Mining · NSE / BSE
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.
Price Band
₹195 – ₹207
Issue Size
₹171 Cr
Lot Size
72 shares
GMP
+24.1%
Est. Listing
₹257
at current GMP
Subscribed
126.36x
overall
Open
26 Jun 2024
Close
28 Jun 2024
Allotment
1 Jul 2024
Refund
2 Jul 2024
Demat Credit
3 Jul 2024
Listing
3 Jul 2024
Overall Subscription
126.36x
Total Demand
QIB Multiplier
173.99x
Institutions & Funds
NII / HNI
221.66x
High Net-Worth
Retail (RII)
58.31x
Individual Bidders
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 1,652,174 | 287,463,888 | 173.99x |
| NIB | 1,239,131 | 274,669,200 | 221.66x |
| HNIs(10L +) | 826,088 | 179,671,680 | 217.50x |
| HNIs (2-10L) | 413,043 | 94,997,520 | 229.99x |
| RETAIL | 2,891,305 | 168,580,224 | 58.31x |
| Total | 7,021,741 | 1,005,382,512 | 126.36x |
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| HNIs (10L+) | 820 | 33,598 | 40.97x |
| HNIs (2-10L) | 410 | 89,252 | 217.69x |
| RETAIL | 40,157 | 2,104,492 | 52.41x |
| Total Applications | 41,387 | 2,227,342 | 53.82x |
Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.
Vraj Iron and Steel Limited is bringing an initial public offering (IPO) in the Metals & Mining sector with an aggregate issue size of ₹171 Crores. The shares are offered at a price band of ₹195 to ₹207 per equity share on NSE and BSE. Currently, traders and retail applicants are calculating expected listing gains and break-even points based on unofficial grey market quotations.
Prospective investors can apply in the retail quota with a minimum of 1 lot comprising 72 shares (approx. ₹14,904 minimum investment). High net-worth individuals (HNI/NII) can bid in the sHNI (₹2 Lakh to ₹10 Lakh) or bHNI (above ₹10 Lakh) categories for enhanced quota allocation.
Allotment reconciliation will be managed by Bigshare Services Private Limited. Eligible allottees will receive credit of equity shares into their Demat accounts by 2024-07-03, while un-allotted funds or UPI block mandates will be released on 2024-07-02.
The latest Grey Market Premium (GMP) for Vraj Iron and Steel Limited IPO is ₹50 per equity share. Based on the upper price band of ₹195 to ₹207 per equity share, the estimated listing price is ₹257 (+24.1% expected listing gain).
With a lot size of 72 shares and current GMP of ₹50, the expected profit per application lot is approx ₹3,600 (+24.1% gain). Minimum application cost is approx ₹14,904.
The Vraj Iron and Steel Limited IPO aggregate issue size is ₹171 Crores with an equity price band set at ₹195 to ₹207 per equity share. The retail lot size is 72 shares requiring a minimum capital outlay of approx. ₹14,904.
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 126.36x (Retail: 58.31x, QIB: 173.99x, NII: 221.66x). You can track live multiples directly on our dedicated subscription page.
The basis of allotment will be published on the official registrar portal (Bigshare Services Private Limited) and the BSE status verification website on or around 2024-07-01. Investors can verify status using PAN card or application number.
Vraj Iron and Steel Limited shares are scheduled to list on NSE and BSE on 2024-07-03.