30-Apr-2024
2 mins read
Refractory Shapes IPO is open for subscription starting Monday, May 6, 2024, and closing on Thursday, May 9, 2024. The price band of this upcoming IPO is decided at Rs 27 to Rs 31 per share. The minimum lot size set for the retail category is 4000 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 8000 shares. The minimum investment required for retail category investors is Rs 1,24,000 (31 x 4000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,48,000 (31 x 8000 shares). Refractory Shapes IPO is a book-built issue of Rs 18.60 crores. This upcoming IPO is a fresh issue of 60 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Friday, May 10, 2024. Refractory Shapes IPO will be listed on NSE SME, and the listing date is fixed on Tuesday, May 14, 2024. The book-running lead manager of the Refractory Shapes IPO is Shreni Shares Limited. Bigshare Services Private Limited is the registrar for this IPO, and Sherni Shares Is the market maker.
About Refractory Shapes Limited Company Profile
Refractory Shapes Limited was founded in 1996, and it manufactures various types of bricks, castables, high alumina catalysts, and ceramic balls. The product list includes pre-cast and pre-fired blocks, burner blocks, specially shaped refractory bricks, and dense and insulating castables and mortars. Refractory Shapes Limited is a pioneer in manufacturing dome bricks, hexagonal tiles, circle bricks, and alumina lumps of high purity for fertiliser industries, as well as specialised design PCPF blocks for burner ports in steel industries. The tailored-finished goods provide diversity in the company's products, wherein modern manufacturing equipment is installed for scaling manufacturing. The company’s manufacturing facilities are located at Pimpri Industrial Area, Pune, Maharashtra with a total area of 34,788 sq. feet. The company has an additional 4 acres of land with an area of 1,74,246 sq. feet near the existing unit at Wankaner, Gujarat. As per latest information available, the company had a team of 38 employees.
Objectives of Refractory Shapes IPO
The proceeds from this issue will be used for civil construction required for the expanding and setting up a new manufacturing unit. Additionally, funds will be utilised for the purchase of plant and machinery for the new manufacturing unit. The remaining will be used for purchase of commercial vehicles and meeting the general corporate purposes.
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Financials of Refractory Shapes Limited (Amt in Rs Lakhs)
Refractory Shapes posted a revenue of Rs 1,957.38 lakhs and Rs 232.21 lakhs for the period ending on 30 September 2023. Between the FY ending on 31 March 2023 and 31 March 2022, the revenue increased by 47.7% but PAT dropped by -33.2%.
| Period Ended | 30-Sep-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 5,380.12 | 5,003.81 | 3,684.82 | 2,723.72 |
| Revenue | 1,957.38 | 3,872.23 | 2,621.67 | 2,179.67 |
| Profit After Tax | 232.21 | 191.74 | 287.04 | 156.39 |
| Net Worth | 1,900.85 | 1,668.64 | 1,476.90 | 1,189.86 |
| Reserves and Surplus | 1,890.85 | 1,658.64 | 1,466.90 | 1,179.86 |
| Total Borrowing | 2,192.28 | 2,048.63 | 1,570.12 | 1,234.18 |
Other Important Details of Refractory Shapes IPO
| IPO Date | May 6, 2024 to May 9, 2024 |
| Listing Date | 14-May-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 27 to Rs 31 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 6,000,000 shares amounting to Rs 18.60 crore |
| Fresh Issue | 6,000,000 shares amounting to Rs 18.60 crore |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 15,800,000 |
| Shareholding post issue | 21,800,000 |
| Market Maker portion | |
| Shreni Shares |
Time-Table of Refractory Shapes IPO
| IPO Open Date | Monday, May 6, 2024 |
| IPO Close Date | Thursday, May 9, 2024 |
| Basis of Allotment | Friday, May 10, 2024 |
| Initiation of Refunds | Monday, May 13, 2024 |
| Credit of Shares to Demat | Monday, May 13, 2024 |
| Listing Date | Tuesday, May 14, 2024 |
| Cut-off time for UPI mandate | 5 PM on May 9, 2024 |
Lot Size of Refractory Shapes IPO
| Application | Lots | Shares | Amount |
| Retail - Minimum | 1 | 4,000 | Rs 124,000 |
| Retail - Maximum | 1 | 4,000 | Rs 124,000 |
| HNI - Minimum | 2 | 8,000 | Rs 248,000 |
IPO Reservation of Refractory Shapes Limited
| Investor Category | Shares Offered |
| QIB Shares | Not more than 50 percent of the Issue |
| Retail Shares | Not less than 35 percent of the Issue |
| NII (HNI) Shares | Not less than 15 percent of the Issue |
Key Performance Indicator of Refractory Shapes Limited IPO
| KPI | Values |
| ROE | 12.22 |
| Debt/Equity | 1.15 |
| RoNW | 12.22 |
| P/BV | 2.58 |
| PAT Margin | 12.11% |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 1.21 | 2.13 |
| P/E | 25.55 | 14.55 |
Promoters of Refractory Shapes Limited and Their Holdings
The promoters of Refractory Shapes company are Mr. Dayashankar Krishna Shetty, Ms. Pratibha Dayashankar Shetty, and Ms. Prajna Shravan Shetty.
| Shareholding Pre Issue | 100 percent |
| Shareholding Post Issue | - |
Lead Manager(s) of Refractory Shapes IPO
The lead manager for Refractory Shapes IPO is Shreni Shares Limited.
How do you apply for the Refractory Shapes IPO?
Wait for the public issue to open for subscription, then click here to apply for the Refractory Shapes Limited IPO with Bigul.
How do you check the allotment status of Refractory Shapes IPO?
The registrar for the Refractory Shapes IPO is Bigshare Services Private Limited. To check your allotment status, please click here.
FAQs
- What is the Refractory Shapes IPO?
Refractory Shapes IPO is a book-built issue of Rs 18.60 crores. This upcoming IPO is a fresh issue of 60 lakh equity shares. The offer-for-sale component is not available on this issue. The allotment for this new IPO is expected to be finalised on Friday, May 10, 2024.
- Who are the lead managers for the Refractory Shapes Limited IPO?
Sherni Shares Limited is appointed as the lead manager for the IPO.
- What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Limited is the registrar for Refractory Shapes Limited, handling the IPO's administrative aspects.
- How can I apply for the Refractory Shapes IPO?
The public subscription of this new IPO will open on May 6, 2024. Click here to initiate the application process.
- How will the net proceeds from the IPO be utilised?
The proceeds from this issue will be used for civil construction required for the expanding and setting up a new manufacturing unit. Additionally, funds will be utilised for the purchase of plant and machinery for the new manufacturing unit.
- How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the Refractory Shapes Limited IPO by visiting here. For further updates follow Bigul.
- What is the financial performance of Refractory Shapes Limited?
Refractory Shapes posted a revenue of Rs 1,957.38 lakhs and Rs 232.21 lakhs for the period ending on 30 September 2023. Between the FY ending on 31 March 2023 and 31 March 2022, the revenue increased by 47.7% but PAT dropped by -33.2%.
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