Bookbuilding IPO | ₹19 Cr | Listed at NSE SME | Mon, May 6, 2024 - Thu, May 9, 2024
Refractory Shapes IPO is a book build issue of ₹18.60 crores. The issue is entirely a fresh issue of 0.60 crore shares of ₹18.60 crore.
Refractory Shapes IPO bidding started from May 6, 2024 and ended on May 9, 2024. The allotment for Refractory Shapes IPO was finalized on May 10, 2024. The shares got listed on NSE SME on May 14, 2024.
Refractory Shapes IPO price band is set at ₹31 per share. The lot size for an application is 4,000. The minimum amount of investment required by an retail is ₹1,24,000 (4000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (8,000 shares), amounting to ₹2,48,000.
Shreni Shares Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Shreni Shares Ltd..
Refer to Refractory Shapes IPO RHP for detailed Information.
IPO Open
Mon, May 6, 2024
IPO Close
Thu, May 9, 2024
Issue Price
₹31 per share
Market Cap (Pre-IPO)
₹67.58 Cr
| IPO Date | 6 to 9 May, 2024 |
| Listed on | Tue, May 14, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹27 to ₹31 |
| Issue Price | ₹31 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 60,00,000 shares (agg. up to ₹19 Cr) |
| Reserved for Market Maker | 3,04,000 shares Shreni Shares Ltd. (agg. up to ₹0.9424 Cr) |
| Fresh Issue (Ex Market Maker) | 56,96,000 shares (agg. up to ₹18 Cr) |
| Net Offered to Public | 56,96,000 shares (agg. up to ₹18 Cr) |
| Share Holding Pre Issue | 1,58,00,000 shares |
| Share Holding Post Issue | 2,18,00,000 shares |
| NSE Symbol | REFRACTORY |
| ISIN | INE0TNX01015 |
Refractory Shapes IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 56,96,000 shares, after excluding 3,04,000 shares allotted on a firm basis. Of the Net offer 28,44,000 (49.93%) are allocated to QIB, 8,56,000 (15.03%) allocated to NII 19,96,000 (35.04%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 28,44,000 | 49.93% | 47.40% |
| − Anchor Investor Shares Offered | 17,00,000 | 28.33% | |
| − QIB (Ex. Anchor) Shares Offered | 11,44,000 | 19.07% | |
| NII (HNI) Shares Offered | 8,56,000 | 15.03% | 14.27% |
| Retail Shares Offered | 19,96,000 | 35.04% | 33.27% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,04,000 | 5.07% | |
| Total Shares Offered | 60,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹1,24,000 |
| Retail (Max) | 1 | 4,000 | ₹1,24,000 |
| HNI (Min) | 2 | 8,000 | ₹2,48,000 |
Refractory Shapes IPO raises ₹5.27 crore from anchor investors. Refractory Shapes IPO Anchor bid date is May 3, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, May 3, 2024 |
| Shares Offered | 17,00,000 |
| Anchor Portion (₹ Cr.) | 5.27 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Jun 9, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Aug 8, 2024 |
Refractory Shapes Limited was founded in 1996 and manufactures various types of Bricks, Castables, high alumina catalysts and Ceramic Balls.
The company's product list includes pre-cast and pre-fired blocks (PCPF), Burner Blocks, specially shaped refractory bricks, dense and insulating castables, and mortars. The company also receives orders for metallic anchors, which are used as supports for the installation of refractory castings and for which raw materials such as tabular alumina, low alumina bricks and insulating bricks, etc. are required.
The Company's manufacturing facilities are located at Pimpri Industrial Area, Pune, Maharashtra, with a total area of 34,788 sq. ft, and at Wankaner, Morbi district in Gujarat, with a total area of 1,74,246 sq. ft. The Company also has an additional 4 acres of land with an area of 1,74,240 sq. ft. near the existing unit at Wankaner, Gujarat to expand the production unit, to add an additional kiln and manufacture more various types of refractory bricks with pressing machines.
On September 30, 2023, the company had 38 employees.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 52.90 | 50.04 | 36.85 | 27.24 |
| Total Income | 29.99 | 38.72 | 26.22 | 21.80 |
| Profit After Tax | 3.08 | 1.92 | 2.87 | 1.56 |
| NET Worth | 3.97 | 16.69 | 14.77 | 11.90 |
| Reserves and Surplus | 3.97 | 16.59 | 14.67 | 11.80 |
| Total Borrowing | 23.42 | 20.49 | 15.70 | 12.34 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of Capital expenditure towards civil construction required for Expansion of existing manufacturing unit at the existing location situated at Wankaner, Gujarat; | 4.30 |
| 2 | Funding of Capital expenditure towards purchase of Plant and Machineries for Expanding existing manufacturing unit at the existing location situated at Wankaner, Gujarat; | 2.51 |
| 3 | Repayment/prepayment of all or certain of our borrowings availed of by our Company | 7.00 |
| 4 | Purchase of Commercial Vehicle | 0.11 |
| 5 | General Corporate Purpose | 2.46 |
| KPI | Dec 31, 2023 |
|---|---|
| ROE | 15.58% |
| ROCE | 9.79% |
| Debt/Equity | 1.18 |
| RoNW | 15.58% |
| PAT Margin | 10.47% |
| Price to Book Value | 4.95 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 1.21 | 1.88 |
| P/E (x) | 25.55 | 16.46 |
| Promoter Holding | 100.00% | 72.48% |
| Market Cap | ₹67.58 Cr. |
The Refractory Shapes IPO is subscribed 255.08 times on May 9, 2024 6:19:56 PM (Day 4). The public issue subscribed 259.56 times in the retail category, 90.59 times in the QIB category, and 464.43 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 90.59 | 11,44,000 | 10,36,40,000 |
| NII* | 464.43 | 8,56,000 | 39,75,52,000 |
| Retail | 259.56 | 19,96,000 | 51,80,88,000 |
| Total | 255.08 | 39,96,000 | 1,01,92,80,000 |
Total Application : 1,29,522
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees including underwriting commission | 1.41 |
| 2 | Brokerage, selling, commission and upload fees | 0.01 |
| 3 | Registrar to the issue | 0.02 |
| 4 | Legal Advisors | 0.01 |
| 5 | Advertising and Marketing expenses | 0.03 |
| 6 | Regulators including stock exchanges | 0.04 |
| 7 | Printing and distribution of issue stationery | 0.01 |
| 8 | Others, if any (market making, depositories, marketing fees, secretarial, peer review auditors, etc.) | 0.71 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹31.00 |
| Open | ₹75.00 |
| Low | ₹75.00 |
| High | ₹78.75 |
| Last Trade | ₹78.75 |
Lead Manager Reports
Refractory Shapes IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹19 Crores. The issue is priced at ₹31 per share. The minimum order quantity is 4000.
The IPO opens on Mon, May 6, 2024, and closes on Thu, May 9, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Refractory Shapes IPO using UPI as a payment gateway. Zerodha customers can apply in Refractory Shapes IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Refractory Shapes IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Refractory Shapes IPO opens on Mon, May 6, 2024 and closes on Thu, May 9, 2024.
Refractory Shapes IPO lot size is 4000, and the minimum amount required for application is ₹1,24,000.
You can apply in Refractory Shapes IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Refractory Shapes IPO will be done on Friday, May 10, 2024, and the allotted shares will be credited to your demat account by Mon, May 13, 2024. Check the Refractory Shapes IPO allotment status.
The Refractory Shapes IPO listing date is on Tue, May 14, 2024.
