GMP, offering information, and ten essential things to be aware of before Vraj Iron and Steel's IPO starts tomorrow
The June 26 IPO for Vraj Iron and Steel has a price range of ₹195 to ₹207 per equity share. The company intends to use the money raised for expansion projects and basic corporate operations. On July 3, the IPO is anticipated to list on the BSE and NSE.
Tomorrow, on Wednesday, June 26, subscriptions for the Vraj Iron and Steel IPO will start. The company makes M.S. Billets, TMT bars, and sponge iron under the Vraj name. Currently, the company uses 52.93 acres of space spread over two Chhattisgarh industrial facilities, Raipur and Bilaspur. A captive power plant with a combined installed capacity of 5 MW is also present at the company's Raipur production facility as of December 31, 2023.
The company's captive power plant and present manufacturing facilities are now being expanded to accommodate increased capacity. The overall installed capacity of these facilities—which comprise both intermediate and final products—is expected to increase as a result, going from 2,31,600 TPA to 5,00,100 TPA, and from 5 MW to 20 MW for the captive power plant.
The company's product categories, which include Sponge Iron, TMT Bar, MS Billets, and its by-products, Dolochar, Pellet, and Pig Iron, cater to both industrial and end-user clientele.
The company's promoters are Gopal Sponge and Power Private Limited, V. A. Transport Private Limited, and Vijay Anand Jhanwar.
Vraj Iron and Steel Limited's profit after tax (PAT) increased by 88.12% between March 31, 2022, and March 31, 2023, while its revenue increased by 24.87% over the same period.
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