Vraj Iron and Steel IPO has seen a strong demand, with the issue being subscribed 8.
Meanwhile, those at Master Capital Service Ltd said the expansions for sponge iron and captive power plant are expected to be ready by FY25 whereas the expansion for MS billets will be ready by early next FY26.
Moreover, Vraj's plan to utilise IPO proceeds to reduce debt is expected to strengthen its balance sheet, and improve net profitability by reducing interest costs in addition to improving operational efficiency.“These expansions and debt reduction strategies are anticipated to drive profitability further through economies of scale and enhanced cost efficiencies.
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