Vraj Iron and Steel IPO
Vraj Iron and Steel Limited (VRAJ) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 03 July 2024.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +71.1% (likely range +37% to +104%), day's high +81.3%, chance of a gain 97%. Actual: +15.9% at the open, +21.7% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 17,53,846 | 28,74,63,888 | 164x | |
| NII (HNI) total | 13,15,385 | 27,46,68,192 | 209x | |
| Big NII (above ₹10 lakh) | 8,76,924 | 17,96,71,680 | 205x | |
| Small NII (₹2-10 lakh) | 4,38,461 | 9,49,96,512 | 217x | |
| Retail | 30,69,231 | 16,85,80,440 | 54.9x | |
| Total | 61,38,462 | 73,07,12,520 | 119x |
Bids on NSE and BSE together, as published by NSE, as of 28 Jun 2024, 07:00 PM. Shares offered exclude the anchor portion. 21% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Vraj Iron and Steel's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Mukka ProteinsMar 2024 | 189x | 250x | 58.5x | 137x | ₹224 Cr | +42.9% | +50.9% |
| Platinum IndustriesFeb 2024 | 151x | 142x | 51.0x | 99.0x | ₹235 Cr | +31.6% | +38.2% |
| Ratnaveer Precision EngineeringSep 2023 | 133x | 135x | 54.0x | 94.0x | ₹165 Cr | +25.7% | +32.0% |
| Kronox Lab SciencesLimitedJun 2024 | 89.0x | 303x | 55.7x | 118x | ₹130 Cr | +21.3% | +21.8% |
| Sigachi IndustriesNov 2021 | 86.5x | 172x | 80.5x | 102x | ₹125 Cr | +249.7% | +267.2% |
| Aeroflex IndustriesAug 2023 | 195x | 126x | 34.4x | 97.1x | ₹352 Cr | +75.9% | +81.8% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Aryaman Financial Services | 4 | +11.8% | 100% |
Offer documents (NSE)
Frequently asked
What is the Vraj Iron and Steel IPO price band and lot size? ₹195–207 per share, with a lot of 72 shares, so the smallest retail bid is ₹14,904.
How many times has it been subscribed? 119x overall: QIB 164x, NII 209x, retail 54.9x.
How did it list? It opened at ₹240, +15.9% against the issue price of ₹207, and closed its first day +21.7%.
