Vraj Iron And Steel Raises Rs 51 Crore From Anchor Investors Ahead Of IPO

Vraj Iron and Steel Ltd. has raised Rs 51 crore from anchor investors ahead of its initial public offering. The company allotted 24.78 lakh shares at Rs 207 apiece to six anchor investors.

Volrado Venture Partners Fund IV got the highest stake allocated for anchor investors at 48.74%, while Ashika Global Securities Pvt. got 12.28%. Capri Global Housing Finance Ltd., Rajasthan Global Securities Pvt., Leading Light Fund VCC-The Triumph Fund and Astorne Capital VCC-ARVEN secured 9.75% stakes each.

No mutual fund had applied for the anchor investor portion.

The company will launch its initial public offering on Wednesday to raise up to Rs 171 crore.

The company has set a price range of Rs 195–Rs 207 per share for its three-day IPO, which consists of a fresh issue of equity shares with no offer-for-sale. The minimum application lot size is 72 shares. The offer will conclude on Friday.

The company is set to list on the BSE and the National Stock Exchange. Investors who bid for the issue can check the Vraj Iron and Steel IPO allotment status here.