Vraj Iron and Steel IPO, launched on June 26, 2024, and closing today, has garnered strong interest from primary market investors, indicating confidence in the company.
The IPO price band is set at ₹195 to ₹207 per equity share, with the aim to raise ₹171 crore through fresh share issuance.
At the time of writing on June 26, 2024 at 12:00 pm on day 3 of bidding, the mainboard IPO was oversubscribed 32.57 times, with the retail portion oversubscribed 31.41 times, the NII segment 77.30 times, and the QIB portion 1.04 times.
Vraj Iron operates two plants in Raipur and Bilaspur, Chhattisgarh. They manufacture sponge iron, MS billets, and TMT bars under the Vraj brand. Their annual production capacity totals 2,31,600 tons.
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