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Vraj Iron and Steel Limited IPO Details

Issue Open	26 June 2024
Issue Close	28 June 2024
IPO Price	₹195 - ₹207 per equity share
Face Value	₹10 per equity share
IPO Size	₹171.00 Cr.
Listing At	NSE, BSE
IPO Lot Size	72 shares

IPO Investor Categories

• Qualified Institutional Buyers (QIB)- Qualified Institutional Buyers (QIBs) are typically large, financially sophisticated investors, such as mutual funds, insurance companies, pension funds, and hedge funds, who are considered to have the expertise and resources to evaluate investment opportunities. QIBs are required to meet certain financial criteria set by the Securities and Exchange Board of India (SEBI) to participate in an IPO, and they are allowed to bid for shares at a price lower than the price at which shares are offered to retail investors.

• Non-Institutional Investors (NII) - Non-Institutional Investors (NIIs), on the other hand, are typically individual investors, High Net Worth Individuals (HNIs), or corporate bodies who do not meet the financial criteria to be classified as QIBs. They are allowed to participate in an IPO at the same price as retail investors.

NII category has two subcategories:

1. sNII - "sNII" stands for "Small Non-Institutional Investor." This subcategory includes investors who bid for shares worth Rs. 2 lakhs and Rs. 10 lakhs in an IPO.

2. bNII - "bNII" stands for "Big Non-Institutional Investor." This subcategory includes investors who have bid for shares worth more than Rs. 10 lakhs in an IPO.

• Retail Individual Investors (RII) - Retail Individual Investors (RIIs) are individual investors who apply for shares worth up to Rs. 2 lakhs in an IPO, aimed at encouraging retail participation in the IPO process.

• Employee (EMP)- The Employee (EMP) category in an IPO is reserved for the employees, directors, and business associates of the issuer company, and the issuer company and the lead manager of the IPO determine the allocation of shares to this category.

• Others- A category of eligible shareholders or other investors with a reserved IPO quota.