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04 Jan
13:39

Vraj Iron and Steel files preliminary IPO documents

Vraj Iron and Steel has filed a Draft Red Herring Prospectus (DHRP) with Indian capital markets regulator, the Securities and Exchange Board of India (SEBI). The document states Vraj’s plans to raise INR 1.71 billion ($20.54 million) via a fresh issue of equity shares, and contains no offer-for-sale (OFS) component. This is a significant step towards the company’s goal of raising funds through an initial public offering (IPO). Vraj aims to use INR 1.65…
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