Vraj Iron and Steel Limited IPO
Vraj Iron and Steel Limited IPO
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Vraj Iron and Steel Limited's successfully completed its Initial Public Offering and commenced trading on 03-07-2024 at the NSE, BSE exchange. The company raised 82,60,870 Shares through this public offering, comprising 82,60,870 Shares in fresh capital.
The IPO was priced within the band of ₹195 to ₹207, with minimum application lots of 72 shares. The offering attracted significant investor interest during its subscription period from 26-06-2024 to 28-06-2024.
Share allotment was finalized on 01-07-2024, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Vraj Iron IPO About Company
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.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Vraj Iron IPO Strength Factors
- Vraj Iron and Steel Limited has a strong and efficient manufacturing setup with plants in Raipur and Bilaspur, Chhattisgarh. These locations help keep costs low and ensure a smooth supply chain.
- The company offers a wide range of products, including Sponge Iron, TMT Bars, MS Billets, and by-products like Dolochar, Pellets, and Pig Iron. This variety allows them to serve many different industries and keeps their business stable.
- Vraj is also committed to sustainability, with its Raipur plant certified for environmental management (ISO 14001:2015). The company relies on a skilled team of 533 employees, including 298 permanent staff, to maintain high-quality production and smooth operations.
Vraj Iron IPO Risk Factors
- Location Risks: Both its current and upcoming manufacturing plants are in Raipur and Bilaspur, Chhattisgarh. This means the company could be affected by local economic downturns, political issues, or natural disasters.
- Financial Struggles: The company has experienced negative cash flows in recent years, meaning it has spent more money than it has earned. If this continues, it could affect future growth and stability.
- Expansion Challenges: The company's growth plans depend on securing enough funding for its Bilaspur expansion. If it can't raise the required funds, it may face delays or financial strain.
Vraj Iron IPO Lead Manager(s)
- Aryaman Financial Services Limited
Vraj Iron IPO Promoter(s)
- Gopal Sponge and Power Private Limited
- V. A. Transport Private Limited
- Vijay Anand Jhanwar
Vraj Iron IPO FAQs
Vraj Iron and Steel Limited IPO subscribed 126.36 times. The public issue subscribed 58.31 times in the retail category,173.99times in QIB, and 217.5 times in the HNI (10+) category byNovember 26, 2025 8:38:56 AM (Day 26).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Vraj Iron IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Vraj Iron IPO FAQs
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