Aztec Fluids IPO vs Refractory Shapes IPO

Comparison between Aztec Fluids IPO and Refractory Shapes IPO.

IPO Details

Aztec Fluids IPO is a SME Bookbuilding IPO proposed to list at BSE SME while Refractory Shapes IPO is a SME Bookbuilding proposed to list at NSE SME.

	Aztec Fluids IPO	Refractory Shapes IPO
Logo		$Refractory Shapes IPO Logo$
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Bookbuilding	Bookbuilding
Listing At	BSE SME	NSE SME
Lead Managers	Hem Securities Ltd.	Shreni Shares Ltd.
Registrar	Bigshare Services Pvt.Ltd.	Bigshare Services Pvt.Ltd.
Market Maker	Hem Finlease Pvt.Ltd.	Shreni Shares Ltd.
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Aztec Fluids IPO is up to ₹22.90 Cr whereas the issue size of the Refractory Shapes IPO is up to ₹17.66 Cr. The final issue price of Aztec Fluids IPO is ₹67.00 per share and of Refractory Shapes IPO is ₹31.00 per share.

	Aztec Fluids IPO	Refractory Shapes IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹63.00 per share	₹27.00 per share
Issue Price (Upper)	₹67.00 per share	₹31.00 per share
Issue Price (Final)	₹67.00 per share	₹31.00 per share
Discount (Retail)	₹0.00 per share	₹0.00 per share
Discount (Employee)
Market Lot Size	2000 shares	4000 shares
Fresh Issue Size	34,18,000 shares	56,96,000 shares
Fresh Issue Size (Amount)	up to ₹22.90 Cr	up to ₹17.66 Cr
OFS Issue Size	0 shares	0 shares
OFS Issue Size (Amount)	up to ₹0.00 Cr	up to ₹0.00 Cr
Issue Size Total	34,18,000 shares	56,96,000 shares
Issue Size Total (Amount)	up to ₹22.90 Cr	up to ₹17.66 Cr

IPO Timetable

Aztec Fluids IPO opens on May 10, 2024, while Refractory Shapes IPO opens on May 06, 2024. The closing date of Aztec Fluids IPO and Refractory Shapes IPO is May 14, 2024, and May 09, 2024, respectively.

	Aztec Fluids IPO	Refractory Shapes IPO
Anchor Bid Date	May 09, 2024	May 03, 2024
Issue Open	May 10, 2024	May 06, 2024
Issue Close	May 14, 2024	May 09, 2024
Basis Of Allotment (Tentative)	May 15, 2024	May 10, 2024
Initiation of Refunds (Tentative)	May 16, 2024	May 13, 2024
Credit of Share (Tentative)	May 16, 2024	May 13, 2024
Listing date (Tentative)	May 17, 2024	May 14, 2024
Anchor Lockin End date 1	Jun 14, 2024	Jun 09, 2024
Anchor Lockin End date 2	Aug 13, 2024	Aug 08, 2024

Financials & KPIs

Aztec Fluids IPO P/E ratio is 20.47, as compared to Refractory Shapes IPO P/E ratio of 25.55.

Aztec Fluids IPO

Refractory Shapes IPO

Financials

Aztec Fluids & Machinery Limited Financial Information (Restated)

Aztec Fluids & Machinery Limited's revenue increased by 17.46% and profit after tax (PAT) rose by 5.18% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	4,287.00	3,090.06	2,707.75	2,112.81
Total Income	5,182.38	5,452.97	4,642.56	3,467.75
Profit After Tax	450.74	327.38	311.25	246.28
Net Worth	1,986.34	1,535.60	1,238.56	958.92
Reserves and Surplus	986.34	1,335.60	1,237.56	957.92
Total Borrowing	565.95	562.31	552.40	514.34
Amount in ₹ Lakhs

Refractory Shapes Limited Financial Information (Restated)

Refractory Shapes Limited's revenue increased by 47.7% and profit after tax (PAT) dropped by -33.2% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	5,289.90	5,003.81	3,684.82	2,723.72
Total Income	2,999.04	3,872.23	2,621.67	2,179.67
Profit After Tax	307.94	191.74	287.04	156.39
Net Worth	396.58	1,668.64	1,476.90	1,189.86
Reserves and Surplus	396.58	1,658.64	1,466.90	1,179.86
Total Borrowing	2,341.80	2,048.63	1,570.12	1,234.18
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

100.00

Promoter Shareholding (Post-Issue)

72.48

P/E Ratio

20.47

25.55

Market Cap

₹91.12 Cr.

₹67.58 Cr.

ROE

25.60%

15.58%

ROCE

25.38%

9.79%

Debt/Equity

0.28

1.18

EPS

₹3.27

₹1.21

RoNW

22.69%

15.58%

Shares Offered

In the Aztec Fluids IPO Retail Individual Investors (RII) are offered 11,98,000 shares while in Refractory Shapes IPO retail investors are offered 11,98,000 shares. Qualified Institutional Buyers (QIB) are offered 6,84,000 shares in Aztec Fluids IPO and 11,44,000 shares in Refractory Shapes IPO.

	Aztec Fluids IPO	Refractory Shapes IPO
Anchor Investor Reserveration	10,22,000 shares	17,00,000 shares
Market Maker Reserveration	1,82,000 shares	3,04,000 shares
QIB	6,84,000 shares	11,44,000 shares
NII	5,14,000 shares	8,56,000 shares
RII	11,98,000 shares	19,96,000 shares
Employee
Others
Total	34,18,000 shares	56,96,000 shares

Bids Received (Subscription)

Aztec Fluids IPO subscribed 218.38x in total, whereas Refractory Shapes IPO subscribed 255.08x.

	Aztec Fluids IPO	Refractory Shapes IPO
QIB (times)	107.93x	90.59x
NII (times)	341.94x	464.43x
Big NII (times)
Small NII (times)
RII (times)	228.43x	259.56x
Employee (times)
Other (times)
Total (times)	218.38x	255.08x

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Refractory Shapes IPO	Storage Technologies IPO