Vraj Iron and Steel IPO: Rs 90 GMP; Last day to apply - Check subscription status
vraj iron and steel ipo: rs 90 gmp; last day to apply - check subscription status
Vraj Iron and Steel IPO: Vraj Iron and Steel's Rs 171 crore initial public offer (IPO) is set to close on Friday, June 28 for public subscription. The Vraj Iron and Steel IPO opened for subscription on Wednesday, June 26.
Vraj Iron and Steel on Tuesday, June 25, said it raised a little over Rs 51 crore from anchor investors a day before its initial share sale opened for public subscription.
Those who have been allocated shares are - Volrado Venture Partners Fund IV, Capri Global Housing Finance, Ashika Global Securities, Rajasthan Global Securities, Leading Light Fund VCC - The Triumph Fund and Astorne Capital VCC-Arven, according to a circular uploaded on the BSE website.
Vraj Iron and Steel has allotted 24,78,259 equity shares to six anchor investors at Rs 207 apiece, aggregating the transaction size to Rs 51.30 crore, it added.
Vraj Iron and Steel IPO Price Band
Vraj Iron and Steel has fixed the price band in the range of Rs 195 to Rs 207 per scrip.
Vraj Iron and Steel IPO GMP, Listing Price Prediction
According to several websites that track grey market activities, shares of Vraj Iron and Steel Limited are commanding a premium of Rs 90 per share, as of Friday, June 28.
With the upper price band of 207, Vraj Iron and Steel IPO's estimated listing price is Rs 297 (cap price + today's GMP). The expected percentage gain per share is 43.48 per cent.
Vraj Iron and Steel Allotment Date
The allotment of shares of Vraj Iron and Steel is likely to be finlalised on July 1, 2024.
Vraj Iron and Steel IPO Details
The Rs 171-crore IPO of Vraj Iron and Steel is entirely a fresh issue of equity shares with no offer-for-sale component.
The company proposes to utilise the net proceeds towards funding for its capital expenditure requirement towards the expansion of project at Bilaspur Plant estimated to be at Rs 164.50 crore and the balance amount towards general corporate purposes.
Aryaman Financial Services is the sole book-running lead manager, while Bigshare Services is the registrar for the IPO.
Vraj Iron and Steel IPO Subscription Status
By 1:30 PM on the final day of bidding, the mainboard IPO was subscribed 53.27 times, the retail portion of the book build issue was booked 37.77 times, the NII segment was filled 124.5 times, and the QIB portion was booked 25.21 times.