Kanga & Co has acted on the successful INR1.71 billion (USD20.3 million) listing of Vraj Iron and Steel on the BSE and NSE, as it successfully completed its initial public offering of 8.26 million shares priced at INR207 each.
Senior partner Chetan Thakkar led the Kanga & Co team, with assistance from principal associate Tejal Patankar, and associates Nishi Jain and Siddhi Chauhan.
Kanga & Co assisted with due diligence of Vraj’s documents, the drafting of issue documents, and responses to observations from the Securities and Exchange Board of India and the exchanges. They also prepared various agreements with intermediaries involved in the issue.
Aryaman Financial Services served as the sole bookrunning lead manager for the issue. Vraj Iron and Steel is involved in the production of sponge iron, MS billets, and TMT bars. The company operates two manufacturing facilities in Raipur and Bilaspur in Chhattisgarh state.
