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SP Refractories IPO is a fixed price issue of ₹4.92 crores. The issue is a combination of fresh issue of 0.03 crore shares aggregating to ₹2.68 crores and offer for sale of 0.02 crore shares aggregating to ₹2.25 crores.
SP Refractories IPO bidding started from Mar 9, 2022 and ended on Mar 11, 2022. The allotment for SP Refractories IPO was finalized on Mar 16, 2022. The shares got listed on NSE SME on Mar 22, 2022.
SP Refractories IPO price is ₹90.00 per share . The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (1600 shares). The minimum lot size investment for HNI is 2 lots (3,200 shares), amounting to ₹2,88,000.
Aryaman Financial Services 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 Aryaman Capital Markets Ltd..
Refer to SP Refractories IPO RHP for detailed Information.
| IPO Date | March 9, 2022 to March 11, 2022 |
| Listing Date | March 22, 2022 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹90 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 5,47,200 shares (aggregating up to ₹4.92 Cr) |
| Reserved for Market Maker | 28,800 shares Aryaman Capital Markets Ltd. (aggregating up to ₹0.2592 Cr) |
| Fresh Issue (Ex Market Maker) | 2,68,800 shares (aggregating up to ₹2.42 Cr) |
| Offer for Sale | 2,49,600 shares of ₹10 (aggregating up to ₹2.25 Cr) |
| Net Offered to Public | 5,18,400 shares (aggregating up to ₹4.67 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 14,91,900 shares |
| Share Holding Post Issue | 17,89,500 shares |
SP Refractories IPO offers total 5,47,200 shares. Out of which 2,59,200 (47.37%) allocated to NII, 2,59,200 (47.37%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 28,800 (5.26%) |
| NII (HNI) Shares Offered | 2,59,200 (47.37%) |
| Retail Shares Offered | 2,59,200 (47.37%) |
| Total Shares Offered | 5,47,200 (100.00%) |
SP Refractories IPO opens on March 9, 2022, and closes on March 11, 2022.
| IPO Open Date | Wed, Mar 9, 2022 |
| IPO Close Date | Fri, Mar 11, 2022 |
| Tentative Allotment | Wed, Mar 16, 2022 |
| Initiation of Refunds | Thu, Mar 17, 2022 |
| Credit of Shares to Demat | Mon, Mar 21, 2022 |
| Tentative Listing Date | Tue, Mar 22, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Mar 11, 2022 |
Investors can bid for a minimum of 1,600 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 | 1,600 | ₹1,44,000 |
| Retail (Max) | 1 | 1,600 | ₹1,44,000 |
| HNI (Min) | 2 | 3,200 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
SP Refractories Ltd manufactures and supplies refactory material made using hydrated lime, Calcined Alumina, and other raw materials. Refractory cement is its core focus that is widely used in steel & construction industries because of high thermal conductivity, maximum strength, and heat resistance. The company purchases clinkers from outsiders and thereafter crushes, blend, and pack refractory cement in powder form in its manufacturing facility.
Its manufacturing facility are situated in Hingna, Nagpur. The business has a total clinkers manufacturing capacity of 4000 MT per year and clinkers crushing capacity of 6000 MT per year.
Competitive strengths
| Particulars | For the year/period ended (₹ in Lakh) | ||||
|---|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | ||
| Total Assets | 1,232.20 | 1,057.17 | 898.33 | 792.01 | |
| Total Revenue | 1,447.64 | 2,572.48 | 2,099.59 | 1,855.95 | |
| Profit After Tax | 80.74 | 75.35 | 39.93 | 20.59 | |
The market capitalization of SP Refractories IPO is ₹16.11 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 9.94 |
The IPO aims to raise funds for the following purposes;
[Dilip Davda] The company is operating in a highly competitive and fragmented segment. The sustainability of super earnings for H1-FY22 raises concern as the price is based on this performance for the IPO year. Tiny paid-up equity post-IPO also indicates longer gestation for migration to the mainboard. Considering all these, there is no harm in ignoring this IPO. Read detail review...
| Listing Date | March 22, 2022 |
| BSE Script Code | |
| NSE Symbol | SPRL |
| ISIN | INE0JW501011 |
| Final Issue Price | ₹90 per share |
| BSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹90.00 |
| Open | ₹90.20 |
| Low | ₹88.00 |
| High | ₹91.00 |
| Last Trade | ₹90.10 |
SP Refractories Ltd.
M-10, M-11/1 & M-11/2,
MIDC Industrial Area,
Hingna Road,
Nagapur, Maharashtra, 440016
Phone: 07104-235388/99
Email: info@sprefractories.com
Website: http://www.sprefractories.com/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
SP Refractories IPO is a SME IPO of 5,47,200 equity shares of the face value of ₹10 aggregating up to ₹4.92 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 1600.
The IPO opens on March 9, 2022, and closes on March 11, 2022.
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 SP Refractories IPO using UPI as a payment gateway. Zerodha customers can apply in SP Refractories IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in SP Refractories IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The SP Refractories IPO opens on March 9, 2022 and closes on March 11, 2022.
SP Refractories IPO lot size is 1600, and the minimum amount required for application is ₹1,44,000.
You can apply in SP Refractories 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 SP Refractories IPO will be done on Wednesday, March 16, 2022, and the allotted shares will be credited to your demat account by Monday, March 21, 2022. Check the SP Refractories IPO allotment status.
The SP Refractories IPO listing date is on Tuesday, March 22, 2022.
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