Vraj Iron and Steel, the Raipur-based manufacturer of sponge iron, MS billets, and TMT bars, has finalized the allotment of its shares today, July 1st, 2024. The company’s IPO, which ran from June 26th to June 28th, received a strong response from investors, with the issue being oversubscribed more than 119 times.
This news article provides a quick rundown of everything you need to know about the Vraj Iron and Steel IPO allotment, including the latest Grey Market Premium (GMP), how to check your application status online, and other key details.
As of today, July 1st, 2024, the latest GMP for Vraj Iron and Steel IPO is Rs 75. This, when combined with the price band of Rs 195-207 per share offered during the IPO, suggests a possible listing price of around Rs 282 (price band cap + GMP). This translates to a potential gain of approximately 36.23% per share.
How to Check Your Allotment Status
If you applied for shares in the Vraj Iron and Steel IPO, you can check your allotment status online through the Bombay Stock Exchange (BSE) website or via your broker’s platform. Here’s how to check on the BSE website:
- Visit the BSE website: https://www.bseindia.com/static/investors/application_statuschecksystem.aspx
- Under “Issue Type,” select “Equity.”
- From the “Issue Name” dropdown menu, choose “Vraj Iron and Steel Limited.”
- Enter your application number.
- Provide your PAN card ID.
- Verify you’re not a robot and click “Submit.”
The website will display your allotment status. You will also receive messages, alerts, or emails from your bank or broker regarding the debit of funds or the revocation of your IPO mandate by July 2nd, 2024.
Important Dates to Remember
- Allotment Finalization: July 1st, 2024
- Refund Initiation: July 2nd, 2024 (Expected)
- Share Credit to Demat Account: July 2nd, 2024 (Expected)
- Listing Date: July 3rd, 2024 (Expected)
Keep in Mind
- The allotment process is random, and there’s no guarantee that you will receive shares even if you applied.
- The listing price on the stock exchange may differ from the GMP or the price band offered during the IPO.
- Do your own research before making any investment decisions based on the IPO or GMP.
Keep in mind, this is only the start of the company’s path as a publicly traded entity. It’s crucial to stay informed about the company’s performance and make informed decisions about your investment.