New Delhi: Vraj Iron and Steel on Tuesday said it has raised a little over Rs 51 crore from anchor investors, a day before the launch of its initial share sale for public subscription.
Those who have been allotted shares are – Volrado Venture Partners Fund IV, Capri Global Housing Finance, Ashika Global Securities, Rajasthan Global Securities, Leading Light Fund VCC – The Triumph Fund and Astor Capital VCC-Arwen, uploaded on the website According to a circular. BSE website.
Vraj Iron and Steel has allotted 24,78,259 equity shares at Rs 207 per share to six anchor investors, taking the transaction size to Rs 51.30 crore, it said.
The Rs 171-crore initial public offering (IPO) is entirely a fresh issue of equity shares with no component for sale.
The shares will be available for public subscription during June 26-28 in the range of Rs 195 to Rs 207 per share.
The company will use the proceeds from the IPO for expansion projects at the Bilaspur facility and general corporate purposes.
Raipur based Vraj Iron and Steel manufactures sponge iron, MS (Mid Steel) billets and TMT (Thermo Mechanical Treatment) bars.
It operates through two manufacturing plants in Raipur and Bilaspur, Chhattisgarh.
RHP said that after the implementation of the expansion project, the company expects to increase its total installed capacity from 2,31,600 tonnes per annum (TPA) to 500,100 TPA and total installed capacity of captive power plants from 5 MW to 20 MW.
Aryaman Financial Services is the sole book-running lead manager, while BigShare Services is the registrar for the IPO. Equity shares of both the companies are proposed to be listed on NSE and BSE.
Those who have been allotted shares are – Volrado Venture Partners Fund IV, Capri Global Housing Finance, Ashika Global Securities, Rajasthan Global Securities, Leading Light Fund VCC – The Triumph Fund and Astor Capital VCC-Arwen, uploaded on the website According to a circular. BSE website.
Vraj Iron and Steel has allotted 24,78,259 equity shares at Rs 207 per share to six anchor investors, taking the transaction size to Rs 51.30 crore, it said.
The Rs 171-crore initial public offering (IPO) is entirely a fresh issue of equity shares with no component for sale.
The shares will be available for public subscription during June 26-28 in the range of Rs 195 to Rs 207 per share.
The company will use the proceeds from the IPO for expansion projects at the Bilaspur facility and general corporate purposes.
Raipur based Vraj Iron and Steel manufactures sponge iron, MS (Mid Steel) billets and TMT (Thermo Mechanical Treatment) bars.
It operates through two manufacturing plants in Raipur and Bilaspur, Chhattisgarh.
RHP said that after the implementation of the expansion project, the company expects to increase its total installed capacity from 2,31,600 tonnes per annum (TPA) to 500,100 TPA and total installed capacity of captive power plants from 5 MW to 20 MW.
Aryaman Financial Services is the sole book-running lead manager, while BigShare Services is the registrar for the IPO. Equity shares of both the companies are proposed to be listed on NSE and BSE.
