The Vraj Iron And Steel IPO, with a price band of Rs 195–207 per share, aims to raise up to Rs 171 crore through a fresh issue of 82,60,870 shares. Stay tuned with GRM Bulls for more updates on this IPO and other financial news.
- Price Band: Rs 195–207 per share.
- Issue Dates: Opens on June 26, closes on June 28.
- IPO Details: Plans to raise up to Rs 171 crore through a fresh issue of 82,60,870 shares.
- Minimum Lot Sizes:
- Retail investors: 72 shares (Rs 14,904).
- Small non-institutional investors: 14 shares (Rs 2.08 lakh).
- Big non-institutional investors: 68 shares (over Rs 10 lakh).
- Use Of Proceeds: For capital expenditure towards the expansion project at the Bilaspur Plant and loan repayment/prepayment from HDFC Bank Ltd.
- Business: Manufacturer of sponge iron, MS billets, and TMT bars under the Vraj brand, with plants in Raipur and Bilaspur, Chhattisgarh.
- Financials: Revenue from operations grew at 33.2% CAGR between fiscal 2021 and 2023, reaching Rs 515.7 crore. Profit of Rs 44.6 crore in the year ended March 2023.
- Key Risk Factors:
- Geographical concentration risk.
- Revenue vulnerability to demand and price volatility.
- History of negative cash flows.
- Reliance on IPO proceeds for the Bilaspur Expansion Project, risking delays and cost overruns.
For more updates on the Vraj Iron and Steel IPO and other financial news, stay tuned with GRM Bulls.
