Vraj Iron and Steel IPO Day 2: Should you subscribe or not? Check GMP, review, key dates, subscription status, more.
₹51 crore from anchor investors.Also Read: Vraj Iron and Steel IPO: GMP, subscription status, price, review, other details. Buy or not?The initial public offering of Vraj Iron and Steel has set aside a 15% of its shares for non-institutional institutional investors (NII), 50% of its shares for qualified institutional buyers (QIB), and 35% of its shares for retail investors.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.It is tentative that on Monday, July 1, the Vraj Iron and Steel IPO basis for share allocation will be finalised. On Tuesday, July 2, the business will begin refunds, and the shares will be deposited to the allottees' demat accounts the same day after the refund.
Vraj Iron and Steel share price is likely to be listed on BSE and NSE on Wednesday, July 3.Also Read: Vraj Iron and Steel IPO booked 3.47x on first bidding day. 10 key risks investors should know before investingThe brokerage claims that the business is expanding its production capacity from 2,31,000 TPA to 5,00,100 TPA and its captive power plant capacity from 5 MW to 20 MW. While the MS billet expansion is anticipated to be completed by early FY26, the sponge iron and captive power plant expansions are anticipated to be completed by FY25.
We suggest a long-term subscription to this IPO.The business manufactures and markets sponge iron, TM Bars, and M S Billets. It experiments with effective cost control with its in-house power plants. It has so far
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