VRAJ IRON AND STEEL Limited IPO GMP

VRAJ IRON AND STEEL LIMITED (formerly known as Phil Ispat Pvt. Ltd.) is one of the leading Iron and steel manufacturers of Central India. Vraj Iron And Steel Limited has currently two manufacturing units at Raipur and Bilaspur in Chhattisgarh.

Vraj Iron IPO, a Book Built issue amounting to ₹171 crores, consisting entirely of a Fresh Issue of 82.60 lakh shares. The subscription period for the Vraj Iron IPO opens on June 26, 2024, and closes on June 28, 2024. The allotment is expected to be finalized on or about Monday, July 1, 2024, and the shares will be listed on the BSE NSE with a tentative listing date set on or about Wednesday, July 3, 2024.

The price band of Vraj Iron IPO is set at ₹195 to ₹207 equity per share, with a minimum lot size of 72 shares. Retail investors are required to invest a minimum of ₹14,904, while the minimum investment for High-Net-Worth Individuals (HNIs) is 14 lots (1,008 shares), amounting to ₹208,656.

Aryaman Financial Services Limited is the book-running lead manager, Bigshare Services Private Limited is the registrar for the Issue.

Vraj Iron and Steel Limited IPO GMP Today
The Grey Market Premium Vraj Iron and Steel Limited IPO is expected in the range of ₹90 - ₹100 based on the financial performance and subscription status of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Vraj Iron and Steel Limited IPO Live Subscription Status Today
As of 04:20 PM on 28 June 2024, the Vraj Iron and Steel Limited IPO live subscription status shows that  Vraj Iron and Steel IPO subscriped  47.48 times on Day 3. Check the Vraj Iron and Steel Limited IPO Live Subscription Status Today at NSE.

Vraj Iron and Steel Limited IPO Allotment Status
Vraj Iron IPO allotment date is 01 July, 2024, Wednesday. Vraj Iron IPO Allotment will be out on 1st July 2024 and will be live on Registrar Website from the allotment date. Check Vraj Iron and Steel Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Vraj Iron and Steel Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Vraj Iron and Steel Limited IPO

Vraj Iron Issue Proceeds from the Fresh Issue will be utilized towards the following objects :
1. Funding for Capital Expenditure towards the “Expansion Project” at Bilaspur Plant:
a) Repayment or prepayment of borrowings from HDFC Bank obtained by the Company for the capital expenditure towards the “Expansion Project” at Bilaspur Plant; and
b) Capital expenditure towards the “Expansion Project” at Bilaspur Plant.
2) General Corporate Purposes.

Refer to Vraj iron and Steel Limited RHP for more details about the Company.