Vraj Iron and Steel IPO Allotment Status Online

Vraj Iron and Steel IPO Allotment Status Online

Vraj Iron and Steel IPO Allotment Status Online : Vraj Iron and Steel IPO is Open on June 26, 2024 and Close on June 28, 2024. Vraj Iron and Steel IPO to Raise 8,260,870 Shares (Approx ₹171.00 Cr) via IPO. The Fresh Issue of 8,260,870 shares (Approx ₹171.00 Cr). 

  • The Retail Quota Is 35%
  • QIB Is 50%
  • HNI Is 15%.

Vraj Iron and Steel IPO Basis of Allotment Status on 1 July 2024. Vraj Iron and Steel IPO Refund Date is 2 July 2024 and Vraj Iron and Steel IPO Credit to Demat on 2 July 2024.

Also Read: Vraj Iron and Steel IPO Details Today, Date, Price, GMP, Review, Details

Vraj Iron and Steel IPO Allotment Link Online

About –

Vraj Iron and Steel is engaged in manufacturing Sponge Iron, M.S. Billets, and TMT bars under the brand Vraj. We currently operate through two manufacturing plants which are located at Raipur and Bilaspur in Chhattisgarh spread across 52.93 acres. As of March 31, 2023, the aggregate installed capacity of our manufacturing plants was 2,31,600 tons per annum (“TPA”) (comprising intermediate and final products).

Our manufacturing plant at Raipur also includes a captive power plant with an aggregate installed capacity of 5 MW, as of March 31, 2023. We are in the process of increasing the capacities of our existing manufacturing plants and captive power plant, which is expected to increase our aggregate installed capacity (comprising of intermediate and final products) from 2,31,600 TPA to 5,00,100TPA and captive power plants aggregate installed capacity from 5 MW to 20 MW. These proposed expansions are expected to become operational in FY 2024-25. Details for the installed capacities & proposed expansion are as below.

Our two manufacturing plants are strategically located at Bilaspur and Raipur within the mineral rich State of Chhattisgarhand in close proximity to the mineral belt in eastern India. Our presence in these locations allows us to have easy access to raw materials and end users both which helps us overcome significant entry barriers in comparison with our competitors. Webelievethis lowers our transportation costs and provides us with logistics management and cost benefits,thereby improving our operating margins.

Our Company has entered into agreementsfor purchase of iron ore lump with NMDC Limited and a fuel-supply agreementsfor purchase of coal with SouthEastern Coalfields Limited enabling smooth flow in production plants. The main advantages of buying raw materials from our existing suppliers are their enormous capacity, which allows them to meet our requirements of raw materials under any circumstance, their reduced lead times and seamless material flow, on-time deliveries and direct line of communication.

These advantages translate into higher efficiency for us and lower prices of raw materials, as can be observed in the table below, resulting in better operating margins.

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