refractory shapes ipo

Refractory Shapes IPO

  • Status: Closed
  • RHP:
  • ₹ 108,000 / 4000 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    14 May 2024

  • Listing Price

    ₹ 75.00

  • Listing Change

    141.94%

  • Last Traded Price

    ₹ 111.75

IPO Details

  • Open Date

    06 May 2024

  • Close Date

    09 May 2024

  • IPO Price Range

    ₹ 27 to ₹ 31

  • IPO Size

    ₹ 18.60 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    15 May 2024

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Refractory Shapes IPO Subscription Status

Last Updated: 10 May 2024 11:44 AM by 5Paisa

Last Updated: 9th May, 2024 by 5paisa

Refractory Shapes IPO is all set to open from 6th May to 9th May 2024. The company produces different types of Bricks, Castables, High Alumina Catalyst and Ceramic Balls. The IPO includes a fresh issue of 6,000,000 shares worth ₹18.60 cr. The share allotment date is 10th May 2024, and the IPO will be listed on 14th May 2024 on the stock exchanges. The price band is ₹27 to ₹31 and the lot size is 4000 shares.    

Shreni Shares Limited is the book-running lead manager for this IPO, while Bigshare Services Private Limited is the registrar. 

Objectives of Refractory Shapes IPO:

Refractory Shapes Limited plans to utilize the raised capital from the IPO to:

●    To fund the purchase of commercial vehicles.
●    To fund the capital expenditure requirements for civil construction and purchase plant and machinery in order to expand and set up a new manufacturing facility at the existing location in Wankaner, Gujarat.
●    General Corporate Purposes.
 

Refractory Shapes IPO Size

Types Size (₹Cr)
Total IPO size 18.60
Offer for sale -
Fresh issue 18.60

Refractory Shapes IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 4000 ₹124,000
Retail (Max) 1 4000 ₹124,000
HNI (Min) 2 8000 ₹248,000

Refractory Shapes IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
Anchor Allocation 1 17,00,000 17,00,000 5.27
Market Maker 1 3,04,000 3,04,000 0.94
QIB 90.59 11,44,000 10,36,40,000 321.28
NII 462.58 8,56,000 39,59,68,000 1,227.50
Retail 245.71 19,96,000 49,04,32,000 1,520.34
Total 247.76 39,96,000 99,00,40,000 3,069.12

Refractory Shapes IPO Anchor Allocation

Anchor Bid Date 3 May, 2024
Total no. of shares offered 1,700,000
Portion Size for Anchor Investors 5.27 Cr.
Lock in Period for 50% shares (30 days) 9 June, 2024
Lock in Period for rest of shares (90 days) 8 August, 2024

Refractory Shapes IPO Shareholding Pattern

Shareholding Pattern Pre issue % Post issue %
Promoter & Promoter Group 100.00 72.48

Established in 1996, Refractory Shapes produces different types of Bricks, Castables, High Alumina Catalyst and Ceramic Balls. This includes Pre Cast & Pre Fired Blocks (“PCPF”), Burner Blocks, Special shaped Refractory bricks, Dense & Insulating Castables & Mortars.

The company’s products are used in various industries including Steel, Refineries, Fertilizers, Petrochemicals, Glass, Cement, and more. Additionally,  Refractory Shapes also makes Metallic Anchors used for installing refractory castables.

Peer Comparison

●    SP Refractories Limited
●    IFGL Refractories Limited

For More Information:
Webstory on Refractory Shapes IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 37.96 25.50 20.88
EBITDA 3.87 3.61 2.34
PAT 1.92 2.87 1.56
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 50.03 36.84 27.23
Share Capital 0.10 0.10 0.10
Total Borrowings 33.35 22.07 15.33
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities 1.70 7.57 5.17
Net cash from / (used in) investing activities -6.76 -11.81 0.35
Net cash flow from / (used in) financing activities 3.42 2.74 -5.36
Net increase (decrease) in cash and cash equivalents -1.63 -1.49 0.17


Strengths

1.    The company has two decades of experience in making different types of bricks and castables.
2.    The company is enlisted by Engineer India Limited (EIL) as an Approved Vendor.
3.    It has a PAN India presence.
4.    The company has strong customer relationships.
 

Risks

1.    The majority of the revenues are generated from Maharashtra and Gujarat.
2.    Overcapacity and Oversupply in the Global Refractory Industry can impact profitability.
3.    It operates in a highly competitive industry.
4.    It has reported negative cash flows in the past. 
5.    High working capital requirements.
 

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FAQs

Refractory Shapes IPO opens from 6th May to 9th May 2024.
 

The size of Refractory Shapes IPO is ₹18.60 cr.

To apply for Refractory Shapes IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Refractory Shapes IPO
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.

You will receive a mandate notification to block funds in your UPI app.

The price band of Refractory Shapes IPO is fixed at ₹27 to ₹31  per share. 

The minimum lot size of Refractory Shapes IPO is 4000 shares and the investment required is ₹1,08,000.

The share allotment date of Refractory Shapes IPO is 10th May 2024.

The Refractory Shapes IPO will be listed on 14th May 2024.

Shreni Shares Limited is the book-running lead manager for Refractory Shapes IPO.

Refractory Shapes plans to utilize the raised capital from the IPO to:

●    To fund the purchase of commercial vehicles.
●    To fund the capital expenditure requirements for civil construction and purchase plant and machinery in order to expand and set up a new manufacturing facility at the existing location in Wankaner, Gujarat.
●    General Corporate Purposes.