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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 ₹31.00 per share . The lot size for an application is 4,000. The minimum amount of investment required by an retail is ₹1,08,000 (4000 shares). The minimum lot size investment for 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 Date | May 6, 2024 to May 9, 2024 |
| Listing Date | May 14, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹27 to ₹31 per share |
| Issue Price Final | ₹31 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 60,00,000 shares (aggregating up to ₹18.60 Cr) |
| Reserved for Market Maker | 3,04,000 shares Shreni Shares Ltd. (aggregating up to ₹0.9424 Cr) |
| Net Offered to Public | 56,96,000 shares (aggregating up to ₹17.66 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,58,00,000 shares |
| Share Holding Post Issue | 2,18,00,000 shares |
Refractory Shapes IPO offers total 60,00,000 shares. Out of which 28,44,000 (47.40%) allocated to QIB, 11,44,000 (19.07%) allocated to QIB, 8,56,000 (14.27%) allocated to NII, 19,96,000 (33.27%) allocated to RII and 17,00,000 (28.33%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,04,000 (5.07%) |
| QIB Shares Offered | 28,44,000 (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 (14.27%) |
| Retail Shares Offered | 19,96,000 (33.27%) |
| Total Shares Offered | 60,00,000 (100.00%) |
Refractory Shapes IPO raises ₹5.27 crore from anchor investors. Refractory Shapes IPO Anchor bid date is May 3, 2024. Refractory Shapes IPO Anchor Investors list
| Bid Date | May 3, 2024 |
| Shares Offered | 17,00,000 |
| Anchor Portion Size (In Cr.) | 5.27 |
| Anchor lock-in period end date for 50% shares (30 Days) | June 9, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | August 8, 2024 |
Refractory Shapes IPO opens on May 6, 2024, and closes on May 9, 2024.
| IPO Open Date | Mon, May 6, 2024 |
| IPO Close Date | Thu, May 9, 2024 |
| Tentative Allotment | Fri, May 10, 2024 |
| Initiation of Refunds | Mon, May 13, 2024 |
| Credit of Shares to Demat | Mon, May 13, 2024 |
| Tentative Listing Date | Tue, May 14, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, May 9, 2024 |
Investors can bid for a minimum of 4,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
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 | ||||
The market capitalization of Refractory Shapes IPO is ₹67.58 Cr.
KPI as of Sun, Dec 31, 2023.
| KPI | Values |
|---|---|
| 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 Rs | 1.21 | 1.88 |
| P/E (x) | 25.55 | 16.46 |
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. It marked inconsistency in its bottom lines for the reported periods. Based on FY24 super annualized earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium to long term rewards. Read detail review...
| Listing Date | May 14, 2024 |
| BSE Script Code | |
| NSE Symbol | REFRACTORY |
| ISIN | INE0TNX01015 |
| Final Issue Price | ₹31 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹31.00 |
| Open | ₹75.00 |
| Low | ₹75.00 |
| High | ₹78.75 |
| Last Trade | ₹78.75 |
Refractory Shapes Ltd.
B 201, Rustomjee Central Park Chakala,
Andheri-Kurla Road,
Andheri (East),
Mumbai, Maharashtra, 400069
Phone: +91 9819995930
Email: investors@refshape.com
Website: https://www.refshape.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Refractory Shapes IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹18.60 Crores. The issue is priced at ₹31 per share. The minimum order quantity is 4000.
The IPO opens on May 6, 2024, and closes on 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 May 6, 2024 and closes on 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 Monday, May 13, 2024. Check the Refractory Shapes IPO allotment status.
The Refractory Shapes IPO listing date is on Tuesday, May 14, 2024.
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