Vraj Iron And Steel Ltd Soars on Market Debut
Shares of Vraj Iron And Steel Ltd concluded with a 22% premium against their issue price of Rs 207 on Wednesday. The stock, initially listed at Rs 240, surged to Rs 251.95 on the BSE and Rs 252 on the NSE. The IPO was heavily subscribed, driven by institutional investors.
- Country:
- India
Shares of Vraj Iron And Steel Ltd ended Wednesday's trading with an impressive 22% premium over their issue price of Rs 207.
The stock made its debut at Rs 240, a 15.94% increase, and further soared to Rs 251.95 on the BSE and Rs 252 on the NSE, reaching the day's trading limit.
The company's market valuation was pegged at Rs 831 crore, with 2.86 lakh shares traded on the BSE and 20.45 lakh on the NSE. The Rs 171-crore IPO saw immense success, mainly due to institutional investors, and the proceeds will fund expansion projects in Bilaspur, Chhattisgarh.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
- READ MORE ON:
- Vraj Iron And Steel
- IPO
- premium
- market debut
- BSE
- NSE
- share price
- expansion projects
- Raipur
- Bilaspur
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