Vraj Iron and Steel IPO booked 119 times backed by strong NII demand

Vraj Iron and Steel IPO closed its subscription with an enthusiastic response from the market on the final day of bidding on Friday, June 28. The public issue of the iron and steel products maker was subscribed over 119 times, receiving bids for more than 73.05 crore shares against 61.38 lakh shares offered.

Demand for the public issue was led by Non-institutional investors who subscribed their allocation 208.81 times. NIIs submitted bids for more than 27.46 crore shares against 13.15 lakh shares reserved for them.

Retail investors placed bids for more than 16.85 crore shares against 30.69 lakh shares set aside for the category. The issue was subscribed 54.92 times by retail investors.

Qualified Institutional Buyers(QIBs) bid for more than 28.74 crore shares against the 17.53 lakh shares set aside for the category. The QIB allocation was subscribed more than 163 times.

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Vraj Iron and Steel IPO share allotment status, listing date

The subscription window for the Vraj Iron and Steel IPO was open from June 26 to June 28. The share allotment status for the Vraj Iron and Steel IPO is scheduled to be finalised on July 1. This will be followed by the credit of shares into the demat account of successful bidders on July 2. Initiation of refunds for the non-allottees will also be done on the same day.

Shares offered in Vraj Iron and Steel IPO will tentatively list on the BSE, and NSE on July 3.

Vraj Iron and Steel IPO price band, issue size

Vraj Iron and Steel IPO’s price band was fixed at ₹195 to ₹207 per share. The iron and steel products maker’s public issue constituted a fresh issue of shares worth ₹171 crore. This includes an anchor allocation of 24,78,259 shares.

About Vraj Iron and Steel

Incorporated in June 2004, Vraj Iron and Steel Ltd is a manufacturer of iron and steel products including sponge iron, MS Billets and TMT bars. The company has two manufacturing plants in Raipur and Bilaspur.

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