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Vraj Iron and Steel IPO listing day has been scheduled for time (Wednesday, July 3). Vraj Iron and Steel IPO allotment was finalised yesterday (Monday, July 1). The crediting of shares to demat accounts for individuals who person been granted shares volition instrumentality spot today, Tuesday, July 2. Today volition besides people the completion of the process of returning shares to individuals who person not yet received them.
With beardown enactment from organization investors, Vraj Iron and Steel IPO subscription presumption was 119 times connected the last time of bidding connected Friday, June 28. The non-institutional capitalist quota was subscribed 208.81 times, portion the QIB (Qualified Institutional Buyers) information received 163.90 subscriptions. The retail capitalist class received 54.93 subscriptions. On Tuesday, June 25, Vraj Iron and Steel announced that it had raised somewhat implicit ₹51 crore from anchor investors.
15% of Vraj Iron and Steel's shares were reserved for non-institutional organization investors (NII), 50% for qualified organization buyers (QIB), and 35% for retail investors.
The IPO does not see an connection to sell; rather, it is simply a wholly caller issuance of equity shares. The nationalist mightiness subscribe for shares for betwixt ₹195 and ₹207 per scrip. The Raipur-based institution Vraj Iron and Steel produces TMT (thermomechanical treatment) bars, MS (mid steel) billets, and sponge iron. It runs 2 accumulation facilities successful Chhattisgarh, 1 each successful Raipur and Bilaspur.
According to Shivani Nyati, Head of Wealth, Swastika Investmart Ltd, the IPO has captivated investors, generating a phenomenal grey marketplace premium (GMP) of ₹67, a staggering 32.37% supra its contented price. This surge aligns perfectly with the bonzer subscription of 126.36 times, showcasing immense capitalist assurance successful Vraj Iron and Steel's potential.
IPO GMP is heading upward and is expected to person a coagulated listing based connected the actions of the past 14 sessions of the grey market. Analysts astatine investorgain.com estimation that the lowest GMP is ₹20 and the maximum GMP is ₹90.
Let's cheque what does Vraj Iron and Steel IPO GMP today awesome up of listing.
Vraj Iron IPO GMP contiguous oregon Vraj Iron IPO grey marketplace premium is +67. This indicates Vraj Iron and Steel stock terms were trading astatine a premium of ₹67 successful the grey market, according to investorgain.com.
A 32.37% summation implicit the IPO terms of ₹207, oregon ₹274 per share, was suggested arsenic the expected listing terms of Vraj Iron and Steel shares, taking into relationship the apical extremity of the IPO pricing set and the contiguous premium successful the grey market.
The readiness of investors to portion with much wealth than the contented terms is indicated by a "grey marketplace premium".
Vraj Iron IPO details
Vraj Iron and Steel IPO, worthy ₹171 crore is wholly a caller contented of 8,260,870 equity share; determination is nary connection for merchantability (OFS) component, according to Red Herring Prospectus (RHP).
The institution plans to usage the proceeds from the IPO for wide firm operations and an enlargement task astatine the Bilaspur site.
The institution plans to usage the proceeds from the IPO for wide firm operations and an enlargement task astatine the Bilaspur site.
Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.
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