The Vraj Iron and Steel IPO will be listed on the bourses today (Wednesday, July 3) at 10:00 IST. According to the BSE website, Vraj Iron & Steel’s stock price will be listed in a special pre-open session on both the BSE and NSE during Wednesday’s transactions. Today’s share price for Iron and Steel will be ready for trading at 10:00 IST.
Furthermore, according to the BSE notification, it is formally informed to Trading Members of the Exchange that, as of Wednesday, July 3, 2024, Iron and Steel’s equity shares will be listed and permitted for trading on the Exchange inside the ‘T’ Group of Securities list.
The Vraj Iron and Steel IPO allotment was finalized on Monday, July 1. Individuals who were given shares had their shares credited to their demat accounts on Tuesday, July 2. Yesterday also marked the end of the process of returning shares to those who have yet to receive them. With significant institutional investor support, the Vraj Iron and Steel IPO subscription status increased 119 times on the final day of bidding on Friday, June 28.
Vraj Iron and Steel’s IPO listing price projection
According to Nyati, Vraj Iron and Steel, a producer of TMT bars, M.S. Billets, and Spong Iron, is gearing up for a successful stock market debut. Investors are fascinated with the IPO, which has yielded an amazing grey market premium (GMP) of ₹67—a staggering 32.37% over the issue price. This gain is consistent with the exceptional 126.36 times subscription, indicating that investors believe strongly in Vraj Iron and Steel’s prospects.
The organization’s financial performance gives it a good reputation. Iron and Steel has proved its potential to offer high returns over the last three years, with a consistent track record of profitability. Investors should be mindful of several risks, including the concentration of production facilities in one location and the lack of long-term client commitments. Consider the steel sector’s inherent competitiveness.
Despite these issues, the IPO’s P/E ratio of 9.48x appears reasonable. This, together with the company’s excellent fundamentals, impressive subscription, and growing GMP, promises a promising listing with big profits for early investors,” Shivani remarked.
Vraj Iron & Steel’s IPO GMP today
The Vraj Iron IPO GMP today, or grey market premium, is +50. Investorgain.com reported that Iron and Steel’s share price was trading at a premium of ₹50 in the gray market.
The expected listing price for Vraj Iron and Steel shares is ₹257 per share, 24.15% higher than the IPO price of ₹207, taking into account the upper end of the IPO pricing band and the current grey market premium.
The ‘grey market premium’ reflects investors’ willingness to pay more than the issue price.
Disclaimer: Stockeasynow does not endorse the opinions or suggestions expressed above; rather, they represent the opinions of certain analysts, specialists, and broking firms. It is recommended that investors consult with qualified specialists before making any financial decisions.
