Vraj Iron and Steel IPO booked 1.99x on first bidding day so far. 10 key risks investors should know before investing
₹51 crore from anchor investors.The ₹171-crore IPO is an entirely fresh equity share issue without any component of an offer-for-sale. On June 26 and 28, shares will be available for public subscription at a price per share between ₹195 and ₹207.The company intends to use the revenues from the IPO for general corporate purposes and expansion initiatives at the Bilaspur site.Under the Vraj brand, the firm produces sponge iron, M.S.
Billets, and TMT bars. The firm now employs 52.93 acres of space across two industrial facilities, Raipur and Bilaspur in Chhattisgarh.
As of December 31, 2023, the company's production facility in Raipur additionally has a captive power plant with an aggregate installed capacity of 5 MW.Here are some of the key risks listed by the company in its Red-Herring Prospectus (RHP):Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.Milestone Alert!
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