The allotment status of Vraj Iron and Steel IPO- which received a robust response from investors- will be finalised today (June 1). The IPO which closed last week was subscribed over 100 times. Through the IPO, the company proposes to utilise the net proceeds towards funding for its capital expenditure requirement and the expansion of project at Bilaspur Plant as well as for general corporate purposes.
The Chhattisgarh based company is engaged in manufacturing of Sponge Iron, M S Billets, and TMT bars under the brand Vraj and operates through two manufacturing plants which are located at Raipur and Bilaspur in Chhattisgarh spread across 52.93 acres. The book running lead manager of the IPO is Aryaman Financial Services.
For those who have invested in the IPO, you can check the status of share allotment on the BSE or by logging in to the registrar website.