New Delhi: Vraj Iron & Steel is set to raise Rs 171 crore through its initial share-sale, which will open for public subscription on June 26.
According to the red herring prospectus (RHP), the three-day initial public offering (IPO) will end on June 28 and bidding for anchor investors will open for one day on June 25.
The company will use the proceeds from the IPO for the expansion project 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 231,600 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.
According to the red herring prospectus (RHP), the three-day initial public offering (IPO) will end on June 28 and bidding for anchor investors will open for one day on June 25.
The company will use the proceeds from the IPO for the expansion project 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 231,600 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.
