Vraj Iron and Steel Limited — Others, 09-08-2025: Monitoring Agency Report

Vraj Iron and Steel's Monitoring Agency Report for the quarter ended June 30 confirms nil deviation in the utilization of its Rs. 171 crore IPO proceeds. The company has largely deployed funds as intended, including Rs. 70 Cr for loan repayment, Rs. 59.25 Cr for capital expenditure at its Bilaspur Plant, and Rs. 22.80 Cr for general corporate purposes, notably raw material procurement. The Billet Plant expansion within the capital expenditure is ongoing and experienced delays due to supplier issues and early monsoon. Remaining unutilized funds of Rs. 2.94 Cr are held in fixed deposits and bank balance, ensuring transparency on fund usage for shareholders.