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Vraj Iron and Steel IPO Allotment Out: Check Status Online, Latest GMP, Key Details

Vraj Iron and Steel IPO Allotment Out:

Vraj Iron and Steel IPO Allotment Out: Check Status Online, Latest GMP, Key Details

Vraj Iron and Steel Ltd’s initial public offering (IPO) has sparked tremendous interest among investors. The bidding round ended on June 28, and now investors are eagerly awaiting the IPO allotment, which was finished on July 1. This article provides a full overview of the IPO allotment procedure, subscription status, and how to check your allotment.

IPO Overview

The Vraj Iron and Steel IPO was available for subscription on June 26 and ended on June 28. The ₹171 crore IPO was oversubscribed, with over 119 bookings. This high demand demonstrates investors’ belief in the company’s prospects.

Allotment Details

Checking IPO Allotment Status

It is critical for investors to check their IPO allotment status to determine whether they have been assigned shares. This can be done using the BSE website or the official portal of the IPO registrar, Bigshare Services Pvt Ltd.

Steps for Checking Allotment Status on BSE

Steps to Check Allotment Status on Bigshare Services

  1. Visit the BigShare Services website: Go to Bigshare’s IPO status.
  2. Select a company: Select ‘Vraj Iron and Steel Limited’ from the drop-down option.
  3. Select Type: Choose between Application No., Beneficiary Id., and PAN.
  4. Enter details: Provide the necessary information based on your selection.
  5. Verify: Enter the CAPTCHA and then press the ‘Search’ button.
  6. View status: Your IPO allotment status will appear on the screen.

IPO Subscription Status

The Vraj Iron and Steel IPO was subscribed 119.04 times in total. Here’s the breakdown:

Grey Market Premium (GMP) Analysis

Vraj Iron and Steel’s shares are trading at a premium on the gray market. The current GMP is ₹75 per share, implying a potential listing price of ₹282 per share. This represents a 36.23% premium over the issue price of ₹207.

Vraj Iron and Steel IPO Details

Background of the Company

Vraj Iron and Steel Ltd makes sponge iron, M.S. billets, and TMT bars under the brand name Vraj. The company runs two manufacturing units in Raipur and Bilaspur, Chhattisgarh, with a combined installed capacity of 231,600 tons per year.

Investor Categories

Allotment Strategy

Several factors influence IPO allotment, including the quantity of applicants, investor type, and demand. Diversifying investments can increase the likelihood of receiving an allotment.

Post-Allotment Steps

Conclusion

The Vraj Iron and Steel IPO has generated a lot of interest from investors, indicating high market confidence. With the allotment finalized and the listing date nearing, investors should review their allotment status and plan their next steps accordingly.

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