Vraj Iron and Steel IPO, which began on June 26, 2024, has been generating significant interest among investors. The company, known for manufacturing Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj, has set its IPO price at ₹195 to ₹207 per share. With a total IPO size of ₹171.00 Crore, the IPO is expected to close on June 28, 2024.
Vraj Iron and Steel Limited, incorporated in June 2004, has two manufacturing plants in Raipur and Bilaspur, Chhattisgarh, with a total installed capacity of 231,600 tons per year. The company’s product portfolio includes offerings such as Sponge Irons, TMT Bars, MS Billets, Dolochar, Pellets, and Pig Iron.
With revenue increasing by 24.87% and profit after tax rising by 88.12% between March 31, 2022, and March 31, 2023, Vraj Iron and Steel Limited has shown strong financial performance. The company’s ROE stands at 23.78%, ROCE at 25.34%, and debt/equity ratio at 0.27, reflecting its stable financial position.
Investors looking to apply for Vraj Iron and Steel IPO can do so through platforms like Angel One, Zerodha, or Upstox. The IPO market lot size is 72 shares, with a minimum order quantity of 1 share. The company aims to use the net proceeds from the IPO for capital expenditure towards the Expansion Project at its Bilaspur Plant and for general corporate purposes.
Overall, Vraj Iron and Steel IPO is poised to attract a wide range of investors due to its strong financials and growth prospects in the steel manufacturing industry.
