Vraj Iron and Steel Limited IPO
Company Background
Established in June 2004, Vraj Iron and Steel Limited, formerly known as Phil Ispat Pvt. Ltd., is a prominent manufacturer of sponge iron, M.S. billets, and TMT bars under the brand name Vraj. The company operates as a subsidiary of Gopal Sponge and Power Private Limited (GSPPL) Raipur, which is actively involved in the steel and power sectors.
Manufacturing Facilities
Vraj Iron and Steel Limited boasts two manufacturing units located in Raipur and Bilaspur in Chhattisgarh, covering a total area of 52.93 acres. As of March 31, 2023, the total installed capacity of these plants is 231,600 tons per year, including intermediate and final products. The company has a production capacity of 57,600 TPA of MS Billets, which its rolling mills can convert into TMT Bars with a production capacity of 54,000 TPA.
Product Portfolio The company's product range includes:
Sponge Iron
TMT Bars
MS Billets
By-products: Dolochar, Pellets, Pig Iron
These products cater to both industrial customers and end users, marketed directly and through brokers and dealers.
Certifications Vraj Iron and Steel Limited has achieved the ISO 14001:2015 certification for its environmental management system at its Raipur plant, underscoring its commitment to environmental sustainability and continuous improvement. IPO Objectives The company proposes to utilize the net proceeds from the IPO for:
Funding Capital Expenditure
Repayment or Prepayment of Borrowings
General Corporate Purposes
Vraj Iron and Steel IPO: Key Details
IPO Dates: 26 to 28 June 2024
Price Band: ₹195 to ₹207 per share
Lot Size: 72 shares
Total Issue Size: ₹171 crores
Retail Quota: 35%
GMP: 35% (for informational purposes only)
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