&w=696&resize=696,0&ssl=1 "Buyers subscribe Vraj Iron IPO 3.46 occasions supply dimension on day 1 of bidding | IPO Information")
Aryaman Monetary Companies is the only book-running lead supervisor, whereas Bigshare Companies is the registrar for the IPO.
The preliminary public providing (IPO) of Vraj Iron and Metal acquired 3.46 occasions subscription on the primary day of share sale on Wednesday.
The Rs 171-crore preliminary share sale acquired bids for two,12,27,976 shares in opposition to 61,38,462 shares on supply, in line with NSE knowledge.
The portion for retail particular person buyers (RIIs) garnered 5.05 occasions subscription whereas the class for non-institutional buyers received subscribed 3.53 occasions. The certified institutional patrons (QIBs) quota acquired 61 per cent subscription.
Vraj Iron and Metal on Tuesday mentioned it has raised somewhat over Rs 51 crore from anchor buyers.
The Rs 171-crore IPO is completely a recent difficulty of fairness shares with no offer-for-sale element.
Shares will likely be accessible for public subscription within the vary of Rs 195 to Rs 207 per scrip.
The corporate will use the IPO proceeds for enlargement tasks on the Bilaspur facility and normal company functions.
Raipur-based Vraj Iron and Metal is into manufacturing sponge iron, MS (Mid Metal) billets, and TMT (Thermo Mechanical Remedy) bars.
It operates by means of two manufacturing crops at Raipur and Bilaspur in Chhattisgarh.
Aryaman Monetary Companies is the only book-running lead supervisor, whereas Bigshare Companies is the registrar for the IPO.
Shares of the corporate are proposed to be listed on the NSE and the BSE.
(Solely the headline and film of this report might have been reworked by the Enterprise Commonplace employees; the remainder of the content material is auto-generated from a syndicated feed.)
First Printed: Jun 26 2024 | 8:16 PM IST
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