Vraj Iron and Steel Limited gets Sebi’s go-ahead to raise funds via IPO

Vraj Iron and Steel Limited has filed its preliminary papers with the capital markets regulator SEBI to raise funds via an initial public offering that includes fresh issues of ₹171 crore there will be no offer-for-sale (OFS) component by its existing shareholders, and promoters as per the DRHP data. The company gets Sebi's nod to float an IPO. The company's Mainboard IPO is proposed to be listed on the NSE and BSE indices. The face value of the equity shares of Vraj Iron and Steel limited is ₹10. The retail quota is 35%, QIB is 50%, and HNI is 15%.
Vraj Iron IPO

Table of Contents

The promoters of the Company are Gopal Sponge and Power Private Limited, V.A. Transport Private Limited and Vijay Anand Jhanwar. The registrar of the IPO is Bigshare Services Private Limited. The book-running lead managers of the Vraj Iron and Steel Limited IPO are ICICI Securities Ltd, Nuvama Wealth Management Ltd and ITI Capital Ltd

The company reported revenue of ₹5,174.21 million in 2023 against revenues of ₹4,143.84 million in 2022. The PAT was 539.97 million in 2023 against 1287.04 million in 2022. The peer group of companies are Godawari Power and Ispat Limited, Sarda Energy and Minerals Limited, and Shyam Metalics and Energy Limited. 

Vraj Iron and Steel Limited (formerly known as Phil Ispat Pvt. Ltd.) is a subsidiary company of Gopal Sponge and Power Private Limited (GSPPL) in Raipur, with interests in steel and power. Vraj Iron and Steel Limited currently operates two manufacturing units in Raipur and Bilaspur in Chhattisgarh and prides itself as one of the leading iron and steel manufacturers in Central India. The company is expanding its manufacturing and power generation capacities and diversifying into related segments. 

Their state-of-the-art integrated steel plants include a manufacturing setup such as a DRI unit, EAF, continuous billet casting mill, sophisticated and high-speed rolling mill, microprocessor-based product technologies, and fully-equipped quality assurance and testing laboratories. Their high-quality iron and steel products are preferred for all types of structural purposes across India.

    Share the Post:

    Follow IPO Watch for the upcoming IPO news and their reviews, also keep following us on TwitterFacebook, and Instagram. For our latest videos, subscribe to our YouTube channel.