Refractory Shapes IPO Details: Refractory Shapes has announced the official dates for its Initial Public Offering (IPO). Scheduled to commence on May 6th, the IPO will run until May 9th. The company aims to raise ₹18.60 crores through this offering on the NSE SME platform. The IPO price band has been set between ₹27 to ₹31 per share, with a market lot comprising 4000 shares.
Established in 1973, Refractory Shapes Limited has been a key player in developing and supplying products to Refineries and Steel Industries. Notably, the company attained approval as a vendor with Engineer India Limited (EIL) in 2007 and 2011, marking significant milestones in its journey. This association has propelled Refractory Shapes into being the Original Equipment Manufacturer (OEM) for numerous projects undertaken by EIL, thereby expanding its presence in green field projects. It’s worth mentioning that the EIL enlistment undergoes re-validation every three years.
The products crafted by Refractory Shapes cater to a wide array of industries, encompassing Steel, Refineries, Fertilizers, Petrochemicals, Glass, and Cement, among others. Engineered to withstand the rigorous demands of these sectors, the company’s refractories play a pivotal role in enhancing operational efficiency and prolonging the lifespan of equipment. With state-of-the-art manufacturing equipment in place, Refractory Shapes ensures a diverse range of products that meet the evolving needs of its clientele.
In addition to its core manufacturing operations, Refractory Shapes engages in fulfilling orders for items beyond its manufacturing scope. This includes Metallic Anchors, essential for supporting the installation of refractory castables. To meet such demands, the company procures raw materials like tabular alumina, low alumina bricks, and insulation bricks from approved vendors and subsequently supplies them to clients. This aspect underscores Refractory Shapes’ involvement in trading these essential products, further diversifying its business portfolio.
Refractory Shapes IPO Objectives:
The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
- Funding of Capital expenditure towards civil construction required for Expanding and setting up a new manufacturing unit at the existing location situated at Wankaner, Gujarat;
- Funding of Capital expenditure towards the purchase of Plant and machinery for Expanding and setting up a new manufacturing unit at the existing location situated at Wankaner, Gujarat;
- Purchase of commercial vehicle; and
- General corporate purposes.
Refractory Shapes IPO Review (Apply or Not)
- Not
Refractory Shapes IPO Date & Price Band Details:
| IPO Open: | 6-May-2024 |
| IPO Close: | 9-May-2024 |
| IPO Size: | Approx ₹18.60 Crores, 6,000,000 Equity Shares |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹27 to ₹31 Per Equity Share |
| IPO Listing on: | NSE SME |
| Retail Quota: | 35% of the net offer |
| QIB Quota: | 50% of the net offer |
| NII Quota: | 15% of the net offer |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors in IPO: | Click Here |
Refractory Shapes IPO Lot Size:
Refractory Shapes’ IPO stipulates a minimum market lot size of 4000 shares, requiring applicants to commit a sum of ₹124,000 towards the application.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 4000 | ₹124,000 |
| Retail Maximum | 1 | 4000 | ₹124,000 |
| S-HNI Minimum | 2 | 8000 | ₹248,000 |
Refractory Shapes IPO Timeline:
The Refractory Shapes IPO is scheduled to commence on May 6th, with the closing date set for May 9th. Following the closure, the IPO allotment is slated for May 10th, with expectations of a potential listing on May 14th.
| IPO Open Date: | 6-May-2024 |
| IPO Close Date: | 9-May-2024 |
| Basis of Allotment: | 10-May-2024 |
| Refunds: | 13-May-2024 |
| Credit to Demat Account: | 13-May-2024 |
| IPO Listing Date: | 14-May-2024 |
Refractory Shapes IPO GMP Today:
Currently, Refractory Shapes IPO shares are not active in the grey market. Market observers note that the shares are available without any premium, indicating a neutral stance in the market sentiment towards Refractory Shapes.
Refractory Shapes Company Financial Report
| ₹ in Crores | |||
| Year | Revenue | Expense | PAT |
| 2021 | ₹21.80 | ₹19.68 | ₹1.56 |
| 2022 | ₹26.22 | ₹22.84 | ₹2.87 |
| 2023 | ₹38.72 | ₹36.23 | ₹1.92 |
| September 2023 | ₹19.57 | ₹16.44 | ₹2.32 |
Refractory Shapes IPO Valuation – FY2023
Check Refractory Shapes IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹1.21 per Equity Share |
| Price/Earning P/E Ratio: | [.] |
| Return on Net Worth (RoNW): | 11.49% |
| Net Asset Value (NAV): | ₹10.56 per Equity Share |
Peer Group
- S P Refractories Limited
- IFGL Refractories Limited
Company Promoters
- Mr. Dayashankar Krishna Shetty
- Ms. Pratibha Dayashankar Shetty
- Ms. Prajna Shravan Shetty
Refractory Shapes IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com
Refractory Shapes IPO Allotment Status
Check Refractory Shapes IPO allotment status on Bigshare website URL. Click Here
Refractory Shapes IPO Lead Managers aka Merchant Bankers
- Shreni Shares Limited
Company Address
Refractory Shapes Limited
B 201, Rustomjee Central Park Chakala,
Andheri-Kurla Road, Andheri (East),
Mumbai – 400069
Phone: +91 9819995930
Email: investors@refshape.com
Website: https://www.refshape.com/
