Vraj Iron and Steel Limited

Vraj Iron and Steel Limited is a Chhattisgarh based manufacturer of sponge iron, MS billets and TMT bars, sold under the Vraj brand. Incorporated in June 2004, the company runs two integrated manufacturing plants at Raipur and Bilaspur spread across roughly 53 acres, supported by a captive power generation unit that helps lower its input energy costs. The company follows a backward integrated model, producing sponge iron in-house as the primary raw material for its billets and TMT bars, which reduces dependence on external suppliers and helps protect margins from raw material price swings. Its promoters are Gopal Sponge and Power Private Limited, V. A. Transport Private Limited and Vijay Anand Jhanwar. The company has grown its revenue and profitability steadily over recent years on the back of rising demand for steel products used in construction and infrastructure, and has been expanding its Bilaspur facility to add further capacity. It listed on the NSE and BSE in July 2024 after raising funds through a fresh issue of equity shares.

The issue included an anchor investor allocation of about 24.8 lakh equity shares, roughly 30 percent of the total issue and 60 percent of the QIB portion, at the upper price band of Rs 207 per share, raising close to Rs 51 crore ahead of the public offer.