New Delhi: Vraj Iron and Steel IPO listing date is Wednesday, July 03, 2024. In an exclusive interview with Money9, Ravi Singh, Sr VP, Retail Research, Religare Broking Ltd, has advised IPO allottees of Vraj Iron and Steel to book profit on listing gains. While, those who didn’t get allotment, Singh advised such investors to stay away from the iron and steel manufacturing company. He said even long-term investment is not advisable. Vraj Iron and Steel IPO GMP too has reduced ever since the bidding process got over. Although, Vraj Iron and Steel IPO subscription status remained a hit!
Vraj Iron and Steel IPO GMP
According to ‘InvestorGain’, Vraj Iron and Steel IPO GMP stood at Rs 50 ahead of listings . Although, considering upper limit of Vraj Iron and Steel IPO price band of Rs 195 to Rs 207 and the latest grey market premium, Vraj Iron and Steel IPO listing gains of 24 per cent can be expected. Vraj Iron and Steel IPO listings will be made on NSE and BSE.
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Vraj Iron and Steel subscription status
Vraj Iron and Steel IPO subscription status hit a whopping 119X of its total issue size of Rs 171 crore on the final day of the stake sale process. The public issue got maximum traction from High Net Worth Individuals (HNIs). Vraj Iron and Steel HNI category was oversubscribed a massive 216 times.
While, Vraj Iron and Steel Qualified Institutional Buyers (QIBs) category was oversubscribed 163X. Whereas, Vraj Iron and Steel Non-Institutional Investors’ (NIIs) subscription status was 208 times full. And, Vraj Iron and Steel IPO retail portion oversubscription stood at almost 5X. HNIs, QIBs and NIIs had shown higher interest than retail investors.
Vraj Iron and Steel allotment was finalised on Monday, July 01, 2024. While, shares were credited in demat accounts of IPO allotted on Tuesday, July 02, 2024. While, the refund process for those who didn’t get the allotment also got initiated on Tuesday.
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If you haven’t yet checked whether shares were allotted to you or not in the bidding process, then, you can go on the official website of the Bombay Stock Exchange (BSE) and check it out.
(Disclaimer: This article is only meant to provide information. News9live.com does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Ravi Singh, Sr VP, Retail Research, Religare Broking Ltd said investors should book profit if made any upon Vraj Iron and Steel IPO listing on Wednesday, July 03, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
