Refractory Shapes Limited

06 May 2024 - 09 May 2024 Individual Category SME NSE

Min Investment

₹216000

Price Band

₹27-₹31

Issue Size

43 lakhs
Equity Shares

Lot Size

4000 (per lot)

IPO Dates
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06 May 2024

Open Date

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09 May 2024

Close Date

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10 May 2024

Allotment Date

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14 May 2024

Listing Date

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.

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About Refractory Shapes Limited

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.   

Founded

1996

Managing Director

Prajna Shravan Shetty

Parent Organization

IPO Objectives

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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How to Apply for IPO

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IPO Allotment

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