Vraj Iron and Steel

Vraj Iron and Steel IPO Madness: Subscribed Over 100 Times!

Vraj Iron and Steel IPO witnessed an overwhelming response with over 100 times subscription, setting a record in the market.

Vraj Iron and Steel recently made waves in the IPO market with its exceptional performance on day 3 of bidding. The IPO, with a price band of Rs 195-207 per equity share, saw an incredible subscription rate of 119.04 times, showcasing strong investor interest. This Raipur-based company received bids for 73.07 crore shares against the 61.38 lakh shares on offer, highlighting the immense demand for its shares.

Investors showed immense enthusiasm on the last day, subscribing to the IPO 119 times the offer size. The Rs 171-crore initial share sale witnessed bids for a staggering 73,07,13,312 shares against 61,38,462 shares available. The substantial oversubscription indicates the confidence investors have in Vraj Iron and Steel's growth prospects.

Notable investors who have been allocated shares include Volrado Venture Partners Fund IV, Capri Global Housing Finance, Ashika Global Securities, and Rajasthan Global Securities. The IPO's success is evident from the robust institutional participation, reflecting a positive market sentiment towards Vraj Iron and Steel's future.

In a market frenzy, the Vraj Iron and Steel IPO saw a record-breaking subscription rate of 119 times, solidifying its position as a sought-after investment opportunity. The company's strategic pricing and strong market presence have attracted both retail and high-net-worth investors, making it a standout performer in the recent IPO landscape.