Aliceblue ANTInstall and trade smarter everywhere
Complete IPO details, including price band, financials, subscription status, and key insights.
Participate in the Vraj Iron & Steel Ltd IPO with full transparency. Review issue details, company fundamentals, and financial performance, and apply securely through Alice Blue.
Key metrics and details at a glance.
Price Band
₹207
Per ShareLot Size
72 Shares
Minimum Investment
₹14,904
Issue Size
₹171 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
Important dates for your applying strategy.
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
99.99%
Issue Type
Book Building
ISIN
INE0S2V01010
Vraj Iron & Steel Limited is engaged in manufacturing of Sponge Iron, M.S. Billets, and TMT bars. The Company currently operates through two manufacturing plants which are located at Raipur and Bilaspur in Chhattisgarh spread across 52.93 acres. Its manufacturing plant at Raipur also includes a captive power plant with an aggregate installed capacity of 5 MW, as of March 31, 2023. After implementation of the Expansion Project, the company expects to increase its aggregate installed capacity (comprising of intermediate and final products) from 231,600 TPA to 500,100 TPA and captive power plants aggregate installed capacity from 5 MW to 20 MW.
India is the second-largest steel producer in the world with an installed capacity of 161.3 MT in FY23 and the second-largest consumer of finished steel with a consumption of 120 MT in FY23. The crude steel production in India increased by 14.1% y-o-y to 69.7 MT in H1 FY24 (April 2023-September 2023) from 61.1 MT in H1 FY23 (April 2022-September 2022). The domestic finished steel consumption has increased at a CAGR of 5% to 119.9 MT in FY23 from 98.7 MT in FY19. After a steady increase in steel production, India witnessed a degrowth of 6.3% y-o-y in FY21 due to the outbreak of COVID-19. During H1 FY24, the consumption of finished steel reported a growth of 14.8% y-o-y on account of increased demand from the infrastructure and real estate sectors, mainly due to the protection year.
Revenue, profit after tax and total assets across the last 3 reported financial years.
Amount in ₹ crore
How the company plans to utilize IPO proceeds.
The funds raised through this IPO will be used for:
Initial public offering of up to 8,260,869^ equity shares of face value of Rs. 10 each ("Equity Shares") of Vraj Iron and Steel Limited ("The Company" or the "Issuer") for cash at a price of Rs. 207 per equity share (including a premium of Rs. 197 per equity share) ("Issue Price") aggregating to Rs. 171.00^ crores ("The Issue"). The issue will constitute 25.05 % of the post-issue paid-up equity share capital. The face value of the equity shares is Rs. 10 each and the issue price is 20.70 times the face value of the equity shares.
*Subject to approvals and market conditions.
Key competitive advantages and factors to consider before investing.
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Vraj Iron & Steel Limited was originally incorporated as "Phil Ispat Private Limited" as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated June 16, 2004 issued by the Registrar of Companies, Madhya Pradesh and Chhattisgarh. Pursuant to special resolution passed by the shareholders of the Company at the extraordinary general meeting held on September 29, 2023, the name of the Company was changed to "Vraj Iron & Steel Private Limited" and a fresh certificate of incorporation pursuant to change of name dated October 30, 2023 was issued by Registrar of Companies, Chhattisgarh. Thereafter, our Company was converted to a public limited company, pursuant to a special resolution passed by the shareholders of the Company at the extraordinary general meeting held on October 31, 2023 and the name of the Company was changed to "Vraj Iron & Steel Limited" and a fresh certificate of incorporation consequent upon conversion to a public limited company dated November 10, 2023 was issued to the Company by the Registrar of Companies, Chhattisgarh.
Wholesaler and Retailer
Amount in ₹ crore
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.