Vraj Iron & Steel Ltd. IPO

Vraj Iron and Steel Limited is a manufacturer of steel products like sponge iron, billets, and TMT bars under the brand Vraj. They currently operate two manufacturing plants in Chhattisgarh with a combined capacity of 231,600 tons per year. They are also expanding their capacity to 500,100 tons and are installing a captive power plant to meet their energy needs.

RHP
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DRHP
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Open Date

2024-06-26

Close Date

2024-06-28

IPO Details

Check out the issue details for Vraj Iron & Steel Ltd. IPO as disclosed in SEBI.

IPO Price

₹ 207

Price Band

₹ 195 - 207

Issue Size

171 Cr.

Issue Type

Book Built

Open

2024-06-26

Close

2024-06-28

Listingprice

₹ 240

ListingGain

15.94%

Listing Date

2024-07-03

CMP

₹ 236.41

Current Return

14.21%

Company Financials

You can get the following financial statements of Vraj Iron & Steel Ltd. as of now.

Subscription Details

The details about the Vraj Iron and Steel Limited IPO is as:

  • The issue size of the Vraj Iron and Steel Limited IPO is 171 Cr.
  • The price band for Vraj Iron and Steel Limited IPO is Rs 195 to Rs 207.
  • The shares of Vraj Iron and Steel Limited IPO will list on 3rd July 2024.
  • The latest tentative GMP of Vraj Iron and Steel Limited IPO is Rs 90.
  • The shares of Vraj Iron and Steel Limited IPO is subscribed 126.36 Times as of 28th June 2024. 

 

Vraj Iron and Steel Limited IPO Valuation

The approx valuation of Vraj Iron and Steel Limited IPO based on its price band and DRHP (prospectus) is:

Particulars Value
Upper Price Band Rs 207
Existing Shares (Qty) 2.47 Cr
Fresh Issue 171 Cr
Market Cap 682.29 Cr
EPS (FY23) Rs 21.84
PE Ratio 9.47x
Industry PE 21x

 

Vraj Iron and Steel Limited IPO Issue Size

Vraj Iron and Steel Limited IPO issue size is 171 Cr

Issue Amount
Fresh Issue 171 Cr
Offer For Sale 0 Cr

 

Vraj Iron and Steel Limited IPO Market Lot

An Individual can apply for a minimum 1 lot of 72 shares and a maximum of 13 lots of 936 shares. Find the details below:

Application Lot Shares Amount
 Minimum  1 72 14,904
 Maximum 13 936 1,93,752

 

Vraj Iron and Steel Limited IPO share offer

The shares of Vraj Iron and Steel Limited IPO is subscribed 126.36 Times as of 28th June 2024. The category-wise shares subscribed are as follows:

Category % Offered Subscription
Qualified Institutional Maximum 50% 173.99 Times
Non-Institutional Minimum 15% 221.66 Times
Retail Individual Minimum 35% 58.30 Times
Total   126.36 Times

Allotment Details

Find below the dates for Vraj Iron and Steel Limited IPO:

Schedule Date
Basis of Allotment 1 July 2024
Refunds 2 July 2024
Credit to Demat Account 2 July 2024
IPO Listing Date 3 July 2024

Check allotment status

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023
Net Sales 283.73 402.07 508.96
Total Expenditure 256.06 353.66 431.7
Operating Profit 27.68 48.41 77.25
Other Income 0.23 0.35 1.74
Interest 6.05 4.24 3.32
Depreciation 7.22 7.14 6.4
Exceptional Items 0 0 0
Profit Before Tax 14.63 37.38 69.28
Provision for Tax 4.9 9.87 17.94
Net Profit 9.73 27.5 51.33
Adjusted EPS (Rs.) 0.39 1.11 2.08

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2021 Mar 2022 Mar 2023
Equity and Liabilities
Share Capital 4.94 4.94 4.94
Total Reserves 50.78 78.29 129.62
Borrowings 28.24 17.09 7.99
Other N/C liabilities 2.49 2.85 2.99
Current liabilities 36.96 42.44 37.81
Total Liabilities 123.41 145.62 183.36
Assets
Net Block 62.32 56.41 51.51
Capital WIP 0 0 0
Intangible WIP 0 0 0
Investments 11.21 11.21 11.21
Loans & Advances 5.2 4.55 10.95
Other N/C Assets 0.27 0.55 0.26
Current Assets 44.42 72.9 109.43
Total Assets 123.41 145.62 183.36
* Other Non-current Liabilities include Net deferred Liabilities

Quarterly Result (All Figures in Cr.)

PARTICULARS Mar 2024
Other Income 0.93
Profit Before Tax 16.9
Tax 4.3
Profit After Tax 12.6
Adjusted EPS (Rs) 5.1

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2021 Mar 2022 Mar 2023
Profit from operations 14.63 37.38 69.28
Adjustment 6.33 0.35 -10.44
Changes in Assets & Liabilities 2.85 -30.31 -36.19
Tax Paid 0 0 0
Operating Cash Flow 23.82 7.42 22.64
Investing Cash Flow -6.31 -0.54 -5.86
Financing Cash Flow -15.57 -6.31 -11.81
Net Cash Flow 1.94 0.57 4.98
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