Vraj Iron and Steel Limited IPO bids start from Wednesday, June 26 and ends on Friday, June 28. The IPO is a book-built issue of ₹171 crores. The issue is entirely fresh issue of 82.60 lakh equity shares. The price band of the issue is set to ₹195 to ₹207 per share with a Face Value of ₹10. Bids for Anchor Investor will be happen on Tuesday, June 25. The issue shall be listed on both NSE & BSE with tempting date fixed as Wednesday, July 3.
The minimum lot size for the issue is 72 equity shares and its multiples there-of. The minimum amount of investment required for retails is ₹14,904. The minimum lot size for HNI’s is 14 lot, aggregating to ₹2,08,656. The company has reserved not more than 50% of shares in the public issue for QIB’s, not less than 15% for NII’s and not less than 35% for Retails.
Stanley Lifestyles IPO price band sets at ₹351 to ₹369 per equity share
Financials
| Particulars | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue (in ₹ crores) | 301.32 | 515.67 | 414.04 |
| PAT (in ₹ crores) | 44.58 | 53.99 | 28.70 |
| PAT Margin | 14.79% | 10.47% | 6.93% |
Object of the Issue
- Funding for Capital Expenditure towards the ‘Expansion Project’ at Bilaspur Plant
- Repayment or prepayment of of borrowings from HDFC Bank obtained by the company for the capital expenditure towards the ‘Expansion Project’ at Bilaspur Plant.
- Funding the Capital Expenditure towards the ‘Expansion Project’ at Bilaspur Plant.
- General Corporate Purposes.
Risk Factors
- The Company experienced negative Cash Flow from operating, investing and financial activities.
- Company have not long term customer agreement and it rely on the top 10 customers for 63.82% of it’s revenue.
- Its Promoters and Promoters Group company engage in similar activities of its, potentially leading to conflicts of interest that could adversely effect our business.
Aryaman Financial Services Limited is the book-running lead managers. Axis Bank Limited is the sponsor bank of the IPO. Bigshare Service Private Limited is registrar of the Issue
About Vraj Iron and Steel Limited
Vraj Iron and Steel Limited was incorporated in 2004. It manufactures Sponge Iron, MS Billet and TMT Bar under the brand Vraj. The company has currently two manufacturing units at Raipur and Bilaspur in Chhattisgarh, India. The Promoter and Promoter Group held 99.99% of pre-issue equity share.