The price band for the IPO of Vraj Iron and Steel, which is scheduled to open on June 26, is set at ₹195 to ₹207 per equity share. The company aims to raise ₹171 crore through this initial public offering, which is entirely a fresh issue of 0.83 crore shares.
The net proceeds from the public offer are intended to be used towards funding capital expenditure for the "Expansion Project" at the Bilaspur Plant, repayment or prepayment of borrowings from HDFC Bank used for capital expenditure at the Bilaspur Plant, and general corporate purposes.
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