Vraj Iron & Steel Ltd. IPO

Vraj Iron & Steel Ltd.

IPO Listing Details

Listed On


Listed On

Issue Price


Issue Price

Listing Price


Listing Price

Listing Gains

+₹33.00 (+15.94%)

Listing Gains

IPO Details

Bidding Dates

26 Jun - 28 Jun '24

Bidding Dates

Min. Investment


Min. Investment

Lot Size


Lot Size

Price Range

₹195 - ₹207

Price Range

Issue Size

161 Cr

Issue Size

Subscription Rate

  • Retail Individual Investor
  • Non-Institutional Investor
  • Qualified Institutional Buyers
  • Employees

About Company

Vraj Iron and Steel Limited, a prominent player in the steel manufacturing industry, is all set to launch its Initial Public Offering (IPO). This IPO presents a unique investment opportunity, with potential benefits and risks that every investor should consider. In this blog, we'll explore various aspects of the Vraj Iron and Steel IPO, including its important dates, Grey Market Premium (GMP), investment rationale, financial performance, SWOT analysis, and more. About Vraj Iron and Steel Limited Vraj Iron and Steel Limited, incorporated in June 2004, is a leading manufacturer in the steel industry, producing Sponge Iron, M.S. Billets, and TMT bars under the brand name Vraj. With two major manufacturing plants in Raipur and Bilaspur, Chhattisgarh, covering a total area of 52.93 acres, the company has a significant production capacity. As of March 31, 2023, these plants boast a combined installed capacity of 231,600 tons per year. The company's diverse product range includes Sponge Iron, TMT Bars, MS Billets, and by-products such as Dolochar, Pellets, and Pig Iron, catering to a wide range of industrial customers and end-users. Notably, the Raipur Plant has achieved ISO 14001:2015 certification, demonstrating a commitment to sustainable practices.

Important Dates - Vraj Iron and Steel IPO Limited IPO

Application opens on 26th June 2024
Last date of application 28th June 2024
Date of Allotment 01st July 2024
Refund begins from 02nd July 2024
Credit of shares to Demat 02nd July 2024
Listing date 03rd July 2024

Vraj Iron and Steel IPO Grey Market Premium

Date GMP
24th June Rs.40
23rd June Rs.20
21st June Rs.20

Why should you invest in Vraj Iron & Steel Ltd. IPO?

Investing in the Vraj Iron and Steel IPO can be considered for several reasons:

  1. Strong Manufacturing Base: With two integrated steel plants in strategic locations, the company ensures efficient production and distribution.
  2. Diverse Product Portfolio: The company's range of products caters to various industrial needs, providing stability and growth potential.
  3. Sustainability Initiatives: The ISO 14001:2015 certification highlights the company's commitment to environmental management.
  4. Expansion Plans: The ongoing expansion projects indicate a clear path for future growth and increased capacity.


Vraj Iron and Steel IPO Noteworthy Highlights

  • Production Capacity: The current capacity is 231,600 TPA, with a planned increase to 500,100 TPA by FY 2025-26.
  • Workforce: Employing 533 individuals, the company has a balanced mix of permanent and contract workers.
  • Financial Growth: Consistent financial performance with a CAGR of 33.4% from FY21-FY23.
  • Strategic Expansion: Focus on the Bilaspur Plant's expansion to enhance production capabilities.

Vraj Iron & Steel Ltd. IPO - SWOT Analysis


  1. Integrated Operations: Efficient production due to integrated steel plants.
  2. Diverse Product Range: Broad portfolio catering to various industrial needs.
  3. Financial Growth: Strong financial performance over recent years.


  1. Geographical Concentration: Dependency on facilities in Chhattisgarh.
  2. Industry Dependency: Vulnerability to steel industry demand and price fluctuations.


  1. Expansion Projects: Increased capacity through ongoing projects.
  2. Rising Domestic Demand: Growing demand for steel in India.


  1. Market Volatility: Fluctuations in steel prices and demand.
  2. Operational Risks: Potential delays and cost overruns in expansion projects.


Financial Snapshot - Vraj Iron and Steel Limited IPO

Vraj Iron and Steel Limited's revenue increased by 24.87% and profit after tax (PAT) rose by 88.12% between the financial year ending with March 31, 2023 and March 31, 2022.
Check out the financial performance of Stanley Lifestyles for recent years:

Financial Year Total Assets Total Revenues Net Profit
March 2021 Rs 126.33 crore Rs 290.93 crore Rs 10.99 crore
March 2022 Rs 150.77 crore Rs 414.38 crore Rs 28.70 crore
March 2023 Rs 191.54 crore Rs 517.42 crore Rs 54.00 crore

How to apply for Vraj Iron & Steel Ltd. IPO?

You can apply for the Vraj Iron & Steel Ltd. IPO in these ways:

Link your personal bank A/C to a trusted UPI ID and map it with your TradeSmart account. Now, proceed further to book your IPO. On acceptance of the mandate, the bid amount will get blocked in your bank account Learn more.

Demat Account

1. If you are an Existing TradeSmart demat account holder and wish to apply for an Vraj Iron & Steel Ltd. click here.
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Vraj Iron & Steel Ltd. IPO FAQs

What is the Vraj Iron and Steel IPO date?

The IPO opens on June 26, 2024, and closes on June 28, 2024.

What is the price band for Vraj Iron and Steel IPO?

The price band is ₹195 to ₹207 per share.

What is the lot size for the IPO?

The lot size is 72 shares.

What is the total issue size of the IPO?

The total issue size is ₹171.00 Cr.

Where will the shares be listed?

The shares will be listed on BSE and NSE.

What is the IPO GMP today?

The current GMP is ₹40.

What is the objective of the Vraj Iron and Steel IPO?

The IPO aims to fund the expansion project at the Bilaspur Plant, repay HDFC Bank borrowings, and for general corporate purposes.

Who are the peers of Vraj Iron and Steel Limited?

Peers include Godawari Power and Ispat Limited, Sarda Energy and Minerals Limited, and Shyam Metalics and Energy Limited.


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