Refractory Shapes IPO Review

 
Refractory Shapes IPO Review

IPO Open Date: May 6, 2024

IPO Close Date: May 9, 2024

IPO Price: ₹27 to ₹31 per share

Lot Size: 4000 Shares

Listing: May 14, 2024

Refractory Shapes is scheduled to hit the market on May 06, 2024 and close on May 09, 2024. Refractory Shapes plans to raise around ₹18.60 Cr through an IPO with a sale of up to 6,000,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.

Refractory Shapes Limited, established in 1996, specializes in the production of a wide range of refractory products including bricks, castables, high alumina catalysts, and ceramic balls. Their product line comprises pre-cast and pre-fired blocks, burner blocks, specially shaped refractory bricks, dense and insulating castables, as well as mortars. The company also fulfills orders for metallic anchors used to support the installation of refractory castings, requiring raw materials such as tabular alumina, low alumina bricks, and insulating bricks.

The manufacturing facilities of Refractory Shapes Limited are situated in Pimpri Industrial Area, Pune, Maharashtra, covering a total area of 34,788 sq. ft, and in Wankaner, Morbi district in Gujarat, spanning 1,74,246 sq. ft. Moreover, the company possesses an additional 4-acre plot adjacent to the existing unit in Wankaner, Gujarat, extending over 1,74,240 sq. ft. This expansion plan aims to accommodate a new kiln and increase production capacity by introducing more varieties of refractory bricks utilizing advanced pressing machines. As of September 30, 2023, the company employed 38 individuals.

Refractory Shapes



Refractory Shapes IPO Details

Refractory Shapes IPO opens on May 06, 2024, and closes on May 09, 2024. The Listing date for Refractory Shapes IPO is on May 14, 2024. The price band for IPO is ₹27 to ₹31 per share and lot size of 4000 Shares.

IPO DateMay 06, 2024 to May 09, 2024
Listing DateMay 14, 2024
Price₹27 to ₹31 per share
Lot Size4000 Shares
Issue Size₹18.60 Cr
Face Value₹10 per share

Refractory Shapes IPO Tentative Timetable

Refractory Shapes opening date is May 06, 2024 and close date is May 09, 2024. The IPO allotment date is May 10, 2024. The refund initiation of IPO is on May 13, 2024. The credit of shares in demat account is on May 13, 2024. The listing date is on May 14, 2024.

EventDate
IPO OpeningMay 06, 2024
IPO ClosingMay 09, 2024
IPO Allotment DateMay 10, 2024
Refund InitiationMay 13, 2024
Shares Credit to DematMay 13, 2024
Lisiting DateMay 14, 2024

Refractory Shapes IPO Lot Size

Lot Size of this IPO is 1600 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹124,000).

CategoryLotsSharesAmount
Retail(Minimum)14000₹124,000
Retail(Maximum)14000₹124,000
HNI (Minimum)28000₹248,000

Refractory Shapes IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding72.48%

Refractory Shapes IPO Review

Refractory Shapes Limited, a company established in 1996, is gearing up for its IPO with a pre-issue shareholding of 100% and a post-issue shareholding of 72.48%. The company, known for manufacturing various refractory products like bricks, castables, catalysts, and ceramic balls, has shown significant growth in revenue but a decrease in profit after tax in recent years. With manufacturing facilities in Pune, Maharashtra, and Wankaner, Gujarat, the company aims to expand its production capabilities by adding new kilns and pressing machines.

In terms of financials, Refractory Shapes Limited witnessed a 47.7% increase in revenue but a -33.2% drop in profit after tax from March 2022 to March 2023. The company's assets have been on the rise, reaching ₹5,289.90 lakhs by December 2023. The IPO market capitalization stands at Rs 67.58 Cr with key performance indicators like ROE at 15.58% and PAT margin at 10.47% as of December 31, 2023. The post-issue EPS is calculated to be Rs 1.88 with a P/E ratio of 16.46, indicating positive market sentiment.

Investors eyeing the Refractory Shapes IPO can expect a company with a solid foundation and growth potential. With a clear plan to utilize the IPO proceeds for expanding manufacturing units, purchasing machinery, and enhancing general corporate purposes, Refractory Shapes Limited seems poised for future success. The company's focus on innovation and product diversification, coupled with its presence in key industrial areas like Pune and Gujarat, positions it well for long-term growth in the competitive refractory industry.

Refractory Shapes IPO Subscription Status (Bidding Details)

Table not found

Refractory Shapes IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Refractory Shapes IPO FAQs

What is Refractory Shapes IPO?

Refractory Shapes is issuing 6,000,000 equity shares with a face value of 10 each, totaling up to ₹18.60 Cr. The shares are being offered at a price of ₹27 to ₹31 each, with a minimum order quantity of 4000 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Refractory Shapes IPO will open?

Refractory Shapes will open on May 06, 2024 for QIB, NII, and Retail Investors.

When Refractory Shapes IPO will end?

Refractory Shapes will end on May 09, 2024.

What is Refractory Shapes IPO Size?

Refractory Shapes IPO size is 18.60 Cr.

What is Refractory Shapes IPO Price Band?

Refractory Shapes price band is 27 to ₹31 per share.

What is the Refractory Shapes IPO Allotment Date?

Refractory Shapes allotment date is May 10, 2024.

What is the Refractory Shapes IPO Listing Date?

Refractory Shapes listing date is May 14, 2024. The IPO is to be listed on BSE and NSE.

How to Refractory Shapes IPO through Zerodha?

To apply for the IPO “Refractory Shapes” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Refractory Shapes IPO through Upstox?

To apply for the IPO “Refractory Shapes” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Refractory Shapes IPO Allotment Status?

For Refractory Shapes IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Refractory Shapes IPO GMP?

You can check out here: Refractory Shapes IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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