Vraj Iron and Metal IPO subscription standing

By 3:42 PM on day one in every of bidding, the e book construct concern was booked 2.58 instances, the retail protion of the general public concern was booked 4.19 instances whereas the NII portion received subscribed 2.17 instances.

Essential Vraj Iron and Metal IPO particulars

1] Vraj Iron & Steel IPO GMP, Shares of the sponge iron producer firm can be found at a premium of 54 within the gray market right now, say market observers.

2] Vraj Iron and Steel IPO price, The corporate has fastened value band of the preliminary supply at 195 to 207 per fairness share.

3]Vraj Iron and Metal IPO date: The e book construct concern opened right now and can stay open till 28 June 2024.

4]Vraj Iron and Metal IPO dimension: The corporate goals to generate 171 crore from this utterly recent concern.

5]Vraj Iron and Metal IPO lot dimension: A bidder can apply for tons; one lot includes 72 firm shares.

6]Vraj Iron and Metal IPO funding restrict: A bidder would require at the very least 14,904 ( 207 x 72) to use for the e book construct concern.

7]Vraj Iron and Metal IPO allotment date: Share allocation is almost definitely on Monday, July 1st, 2024.

8]Vraj Iron and Metal IPO registrar: Bigshare Providers Non-public Restricted has been appointed the official Vraj Iron and Metal IPO registrar.

9]Vraj Iron and Metal IPO itemizing date: The e book construct concern is proposed for itemizing on BSE and NSE. Within the wake of the ‘T+3’ itemizing rule, the Vraj Iron and Metal IPO itemizing date is almost definitely on July third, 2024.

Vraj Iron and Metal IPO: uy or not?

On whether or not Vraj Iron and Metal IPO is sweet or unhealthy for the first market traders, Avinash Gorakshkar, Head of Analysis at Profitmart Securities, stated, “The corporate is a commodity firm, and it has been supplied at barely larger valuations. The corporate is growing its capability, which is an efficient signal from its perspective. Nevertheless, trying on the sturdy secondary market development and upbeat main market, one can solely apply for the mainboard concern for the itemizing beneficial properties.”

Giving a ‘subscribe’ tag to the mainboard concern, Swastika Investmart stated, “Vraj Iron and Metal boasts a document of constant monetary efficiency over the previous three years, with a powerful deal with profitability. Nevertheless, some key dangers require cautious consideration. The corporate’s manufacturing amenities are concentrated in a single area and lack long-term buyer contracts. Moreover, the metal trade is extremely aggressive, and Vraj Iron and Metal is inclined to provide disruptions and uncooked materials value fluctuations. Regardless of these dangers, the IPO’s P/E valuation of 9.48x seems affordable. Contemplating the potential for long-term progress and the potential for modest itemizing beneficial properties, we suggest a subscribe score to this IPO.”

Disclaimer: The views and proposals above are these of particular person analysts, consultants, and broking firms, not of Mint. We advise traders to verify with licensed consultants earlier than making any funding choices.

Milestone Alert!
Livemint tops charts because the quickest rising information web site on the planet Click here to know extra.

3.6 Crore Indians visited in a single day selecting us as India’s undisputed platform for Normal Election Outcomes. Discover the newest updates here!

Revealed: 26 Jun 2024, 10:04 AM IST