Vraj Iron and Steel IPO Debuts at 16% Premium, Highly Subscribed!

Vraj Iron and Steel debuted at ₹240, a 16% premium over its ₹207 IPO price. The ₹171-crore IPO was highly subscribed at 119.04 times, with strong interest from various investor segments.
Vraj Iron and Steel IPO Debuts at 16% Premium, Highly Subscribed!

Vraj Iron and Steel debuted strongly on the stock exchange at ₹240, a 16% premium over its ₹207 IPO price. The ₹171-crore IPO was highly subscribed, at 119.04 times. Non-institutional investors led with 208.81 times, QIBs at 163.9 times, and retail investors at 54.93 times.

Vraj Iron and Steel IPO allotment date is set for July 1, 2024. Shares are priced between ₹195 and ₹207, with a face value of ₹10. Investors can place bids in lots of 72 shares or multiples thereof, making it accessible for various investor segments.

By Day 2, the IPO had achieved a total subscription of 16.90 times. Non-Institutional Investors led the way with a subscription rate of 32.51 times, followed by Retail Individual Investors at 19.35 times and Qualified Institutional Buyers (QIBs) at 0.91 times. This strong interest highlights the market’s positive reception to the offering.

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