Steel/Iron - Listed on 03 July 2024
Vraj Iron and Steel (Steel/Iron) closed its IPO window in 2024 and listed on NSE and BSE on 03 July 2024 at an upper band issue price of Rs 207, opening at Rs 240 for a listing gain of +15.9% and closing day one at Rs 252 (+21.7% on closing basis). The IPO was subscribed 119.02x overall - QIB 163.90x, HNI/NII 208.80x, Retail 54.89x. The total issue size was Rs 171 Cr (Fresh Issue Rs 171 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Steel/Iron
Vraj Iron and Steel operates in the Steel/Iron space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Vraj Iron and Steel issue was offered at an upper price of Rs 207 and raised approximately Rs 171 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 37 | +33.82% |
| Day 2 | Rs 50 | +36.23% |
| Day 3 | Rs 60 | +36.23% |
| Day 4 | Rs 70 | +38.65% |
| Day 5 | Rs 80 | +33.82% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Vraj Iron and Steel IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Vraj Iron and Steel IPO listed at +15.9% versus the upper issue price of Rs 207 on 03 July 2024.
Vraj Iron and Steel IPO was subscribed 119.02x overall. QIB portion was subscribed 163.90x, HNI / NII 208.80x and Retail 54.89x.
IPO GMP started at Rs 37 on Day 1 and moved to Rs 80 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.