Vraj Iron and Steel IPO day 3: GMP, subscription status to review. Apply or not?

Vraj Iron and Steel IPO GMP today

As mentioned above, Vraj Iron and Steel IPO GMP (grey marketplace premium) is ₹90, which is ₹4 higher than Thursday's GMP of ₹86. The GMP is simply a cardinal indicator of the market's cognition of the IPO's imaginable performance. They said that robust Vraj Iron and Steel IPO subscription status and bull inclination connected Dalal Street could beryllium the imaginable operation of reasons fueling grey marketplace sentiments regarding Vraj Iron and Steel IPO. However, banal marketplace experts advised superior marketplace investors to instrumentality with the basics arsenic determination are amended indicators than grey marketplace premiums for the occurrence oregon nonaccomplishment of a nationalist issue.

Vraj Iron and Steel IPO subscription status

In the archetypal 2 days of bidding, the mainboard IPO was subscribed 16.93 times, the retail information of the publication physique contented was booked 19.39 times, the NII conception was filled 32.53 times, and the QIB information was booked 0.91 times.

Vraj Iron and Steel IPO review

GEPL Capital, successful their reappraisal of the Vraj Iron and Steel IPO, has fixed a 'subscribe' tag, stating, "Vraj Iron and Steel is simply a starring shaper of Sponge Iron, M.S. Billets, and TMT bars, strategically located for operational ratio and poised for maturation done value-added products and ongoing expansions. The company's determination is simply a strategical vantage that bodes good for its aboriginal growth. The institution has demonstrated a beardown fiscal show implicit the past 3 years, with revenue/EBITDA/PAT increasing by 21%/41%/69% CAGR. The alloy manufacture is acceptable for maturation driven by urbanization, infrastructure development, and accrued request successful sectors similar automobiles. Globally, alloy request is expected to stay steady. In India, per capita alloy depletion is little than the planetary mean but is projected to summation importantly by 2031, supported by authorities policies and home request maturation of 9-11% annually until 2026. Expansion plans astatine the Bilaspur works purpose to leverage existing infrastructure for improved margins and operational power crossed the worth chain. Hence, we urge a "Subscribe" standing for the issue."

Ventura Securities has besides fixed a 'subscribe' tag to this nationalist issue, saying, "Vraj Iron and Steel presently run done 2 manufacturing plants which are located astatine Raipur and Bilaspur successful Chhattisgarh dispersed crossed 52.93 acres and has a large beingness successful Chhattisgarh. As of December 31, 2023, the aggregate installed capableness of their manufacturing plants was 2,31,600 tons per annum. The manufacturing works astatine Raipur besides includes a captive powerfulness works with an aggregate installed capableness of 5 MW arsenic of December 31, 2023. The institution is successful the process of expanding the capableness of its manufacturing plants and captive powerfulness works and expects to summation its aggregate installed capableness from 2,31,600 Tons per annum to 5,00,000 Tons per annum and the captive powerfulness works aggregate installed capableness from 5 MW to 20 MW."

Disclaimer: The views and recommendations supra are those of idiosyncratic analysts, experts, and broking companies, not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 28 Jun 2024, 09:15 AM IST