New Delhi: The initial public offering of Vraj Iron and Steel was subscribed 119 times on the last day of bidding on Friday with heavy participation from institutional investors.
According to NSE data, bids were received for 73,07,13,312 shares against 61,38,462 shares in the initial share sale worth Rs 171 crore.
The non-institutional investors' quota was subscribed 208.81 times, while the qualified institutional buyers (QIBs) portion was subscribed 163.90 times. The retail individual investors (RII) category was subscribed 54.93 times.
Vraj Iron and Steel on Tuesday said it has raised a little over Rs 51 crore from anchor investors.
An IPO is entirely a fresh issue of equity shares with no component for sale.
The shares were available for public subscription in the range of Rs 195 to Rs 207 per share.
The company will use the proceeds from the IPO for expansion projects at its Bilaspur facility in Chhattisgarh 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.
Aryaman Financial Services was the sole book-running lead manager, while BigShare Services was the registrar for the IPO.
The shares of the company are proposed to be listed on NSE and BSE.
According to NSE data, bids were received for 73,07,13,312 shares against 61,38,462 shares in the initial share sale worth Rs 171 crore.
The non-institutional investors' quota was subscribed 208.81 times, while the qualified institutional buyers (QIBs) portion was subscribed 163.90 times. The retail individual investors (RII) category was subscribed 54.93 times.
Vraj Iron and Steel on Tuesday said it has raised a little over Rs 51 crore from anchor investors.
An IPO is entirely a fresh issue of equity shares with no component for sale.
The shares were available for public subscription in the range of Rs 195 to Rs 207 per share.
The company will use the proceeds from the IPO for expansion projects at its Bilaspur facility in Chhattisgarh 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.
Aryaman Financial Services was the sole book-running lead manager, while BigShare Services was the registrar for the IPO.
The shares of the company are proposed to be listed on NSE and BSE.
