Vraj Iron and Steel IPO Set for Strong Dalal Street Debut with High Grey Market Premium

Vraj Iron and Steel IPO listing date has been scheduled for tomorrow (Wednesday, July 3). The company has received strong support from institutional investors, with the IPO subscription status reaching 119 times on the final day of bidding. The non-institutional investor quota was subscribed 208.81 times, demonstrating high investor interest in the Raipur-based company.

The IPO does not include an offer to sell; rather, it is a completely new issuance of equity shares. The public was able to subscribe for shares in the price range of ₹195 to ₹207 per scrip. Vraj Iron and Steel specializes in producing TMT bars, MS billets, and sponge iron, operating two facilities in Chhattisgarh.

Shivani Nyati, the Head of Wealth at Swastika Investmart, noted the phenomenal grey market premium (GMP) of ₹67, indicating strong investor confidence in Vraj Iron and Steel’s potential. The IPO GMP suggests a solid listing ahead, with expectations of a significant listing gain based on past grey market trends.

Vraj Iron and Steel IPO is set to make its Dalal Street debut on Wednesday. The grey market premium for the shares stood at ₹67-70 apiece, indicating a listing pop of around 32-33 per cent for investors. The company raised ₹171 crore through a fresh share sale, with the issue being oversubscribed 119.04 times.

Post-expansion, Vraj Iron and Steel is optimistic about maintaining its positive financial performance. The company is expected to be fully operational with all expansion plans by the first quarter of FY26. Analysts, including Amit Goel from Pace 360, predict a listing price of around ₹275-285 per share, offering a potential listing gain of 33 per cent.

Brokerage firms have shown positivity towards the Vraj Iron and Steel IPO, recommending investors to subscribe. The book running lead manager for the IPO is Aryaman Financial Services, with Bigshare Services acting as the registrar. Shares will be listed on both BSE and NSE, opening up opportunities for investors in both platforms.