Vraj Iron and Steel IPO day 3: GMP, subscription status to review. Apply or not?
Vraj Iron and Steel IPO price band of ₹195 to ₹207 per equity share, aiming to raise ₹171 crore from its public offer through the issuance of fresh shares. The strong subscription status in the primary market suggests a positive sentiment towards this mainboard IPO.
According to stock market observers, shares of the company are available at a premium of ₹90 in the grey market today.As mentioned above, Vraj Iron and Steel IPO GMP (grey market premium) is ₹90, which is ₹4 higher than Thursday's GMP of ₹86. The GMP is a key indicator of the market's perception of the IPO's potential performance.
They said that robust Vraj Iron and Steel IPO subscription status and bull trend on Dalal Street could be the possible combination of reasons fueling grey market sentiments regarding Vraj Iron and Steel IPO. However, stock market experts advised primary market investors to stick with the basics as there are better indicators than grey market premiums for the success or failure of a public issue.In the first two days of bidding, the mainboard IPO was subscribed 16.93 times, the retail portion of the book build issue was booked 19.39 times, the NII segment was filled 32.53 times, and the QIB portion was booked 0.91 times.GEPL Capital, in their review of the Vraj Iron and Steel IPO, has given a 'subscribe' tag, stating, "Vraj Iron and Steel is a leading manufacturer of Sponge Iron, M.S.
Billets, and TMT bars, strategically located for operational efficiency and poised for growth through value-added products and ongoing expansions. The company's location is a strategic advantage that bodes well for its future growth.
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