Vraj Iron and Steel IPO listing date today. Here’s what GMP, expert say on share debut

Vraj Iron and Steel IPO listing date has been scheduled for today (Wednesday, July 3) on the bourses at 10:00 IST. According to details on the BSE website, Vraj Iron and Steel's share price will list in a special pre-open session on both the BSE and NSE during Wednesday's trades. Vraj Iron and Steel share price today will be available for trade from 10:00 IST.

Further as per BSE notice, it is officially announced to Trading Members of the Exchange that, as of Wednesday, July 3, 2024, Vraj Iron and Steel's equity shares will be listed and permitted for trading on the Exchange within the 'T' Group of Securities list.

Vraj Iron and Steel IPO allotment was finalised on Monday, July 1. The crediting of shares to demat accounts for individuals who have been granted shares took place on Tuesday, July 2. Yesterday also marked the completion of the process of returning shares to individuals who have not yet received them. With strong support from institutional investors, Vraj Iron and Steel IPO subscription status was 119 times on the final day of bidding on Friday, June 28.

Also Read: Vraj Iron and Steel IPO listing tomorrow: Here’s what GMP, subscription status hint ahead of listing

Vraj Iron and Steel IPO listing price prediction

Shivani Nyati, Head of Wealth, Swastika Investmart Ltd

Nyati claims that Vraj Iron and Steel, a producer of TMT bars, M.S. Billets, and Spong Iron, is preparing for an outstanding stock market debut. Investors have been enthralled with the IPO, which has produced an incredible grey market premium (GMP) of ₹67—a whopping 32.37% over its issue price. This increase is in line with the remarkable 126.36 times subscription, which indicates that investors have a great deal of faith in Vraj Iron and Steel's prospects.

The financial success of the organisation presents a favourable image. For the last three years, Vraj Iron and Steel has demonstrated its capacity to provide good returns with a track record of steady profitability. Investors should be aware of several risks, though, such the concentration of production facilities in one area and the absence of long-term client agreements. Another thing to think about is the intrinsic competitiveness of the steel sector.

“Despite these considerations, the IPO's P/E valuation of 9.48x appears reasonable. This, coupled with the company's strong fundamentals, impressive subscription, and soaring GMP, suggests a good listing with significant gains for early investors,” added Shivani. 

Also Read: Vraj Iron and Steel IPO allotment today. Latest GMP, steps to check allotment status online, other key details

Vraj Iron and Steel IPO GMP today

Vraj Iron IPO GMP today or Vraj Iron IPO grey market premium is +50. This indicates Vraj Iron and Steel share price were trading at a premium of ₹50 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Vraj Iron and Steel share price was indicated at ₹257 apiece, which is 24.15% higher than the IPO price of ₹207.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Vraj Iron and Steel IPO: Check latest GMP as focus shifts to allotment on July 1

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.