Refractory Shapes IPO will open for subscription from 06 May 2024. The company aims for an issue size of ₹18.60 Cr through this IPO.
Company Overview
| Full name | Refractory Shapes Limited |
| Sector | Capital Goods |
| Industry | Refractories |
| Company Website | https://www.refshape.com/ |
About Company
Refractory Shapes specializes in manufacturing various products, including bricks, castables, high alumina catalysts, and ceramic balls. This includes pre-cast and pre-fired blocks (PCPF), burner blocks, uniquely shaped refractory bricks, dense and insulating castables, and mortars. The company also fulfills orders for metallic anchors used to support refractory castings, requiring raw materials such as tabular alumina, low alumina bricks, and insulating bricks.
Refractory Shapes has a significant presence across India, serving clients in 17 states and 2 Union territories within the domestic market. For the period ending 30 September 2023, and fiscal years 2023, 2022, and 2021, the company’s domestic sales revenue amounted to INR 19.18 crore, INR 37.97 crore, INR 25.50 crore, and INR 20.89 crore, respectively. These domestic sales accounted for 100% of its operational revenue during these periods.
In the domestic market, the company primarily sources raw materials from various states including Andhra Pradesh, Dadra & Nagar Haveli, Gujarat, Karnataka, Kerala, Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Uttar Pradesh, West Bengal, and Tamil Nadu. In the international market, it sources raw materials from France and China. As of 30 September 2023, the company had 38 employees (including workers) at its manufacturing plant and registered office.
The Objectives of the Issue
- 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 Timetable
| IPO Opening date | 06 May 2024 |
| IPO Closing | 09 May 2024 |
| Basis of Allotment | 10 May 2024 |
| Initiation Refund | 13 May 2024 |
| Credit to Demat Account | 13 May 2024 |
| Listing Date | 14 May 2024 |
Refractory Shapes IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹18.60 Cr – 6,000,000 shares |
| Fresh Issue | ₹18.60 Cr – 6,000,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹27 to ₹31 per share |
| Lot size | 4000 Shares |
| Market Maker portion | 304,000 shares |
| Shareholding pre-issue | 15,800,000 |
| Shareholding post-issue | 21,800,000 |
| Listing Exchange | NSE SME |
Refractory Shapes IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹124,000 |
| Retail (Max) | 1 | 4000 | ₹124,000 |
| HNI (Min) | 2 | 8,000 | ₹248,000 |
Refractory Shapes IPO Documents
Refractory Shapes IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,700,000 (28.33%) |
| Market Maker Shares Offered | 304,000 (5.07%) |
| QIB Shares Offered | 1,144,000 (19.07%) |
| NII (HNI) Shares Offered | 856,000 (14.27%) |
| Retail Shares Offered | 1,996,000 (33.27%) |
| Total Shares Offered | 6,000,000 (100%) |
Refractory Shapes Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | 20.89 | 25.50 | 37.97 | 29.42 |
| Expenses | 19.68 | 22.84 | 36.23 | 25.98 |
| Net income | 1.56 | 2.87 | 1.92 | 3.08 |
Refractory Shapes Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 0.99 | 1.82 | 1.21 |
| PE ratio | – | – | 22.31 – 25.62 |
| RONW (%) | 13.14 | 19.44 | 11.49 |
| NAV | 7.53 | 9.35 | 10.56 |
| ROCE (%) | 9.54 | 11.38 | 8.04 |
| EBITDA (%) | 11.23 | 14.17 | 10.21 |
| Debt/Equity | 1.04 | 1.06 | 1.23 |
Company Promoters
- Mr. Dayshankar Krishna Shetty
- Ms. Pratibha Dayashankar Shetty
- Ms. Prajna Shravan Shetty
- Mr. Suraj Sadanand Shetty
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 72.48% |
Refractory Shapes IPO Subscription Update
| Category | QIB | NII | Retail | Total |
|---|---|---|---|---|
| Shares Offered | 1,144,000 | 856,000 | 1,996,000 | 3,996,000 |
| 9 May 2024 | 90.59 | 462.92 | 245.57 | 247.76 |
| 8 May 2024 | 0.07 | 35.60 | 61.30 | 38.27 |
| 7 May 2024 | 0.05 | 19.42 | 29.54 | 18.93 |
| 6 May 2024 | 0.01 | 2.66 | 8.21 | 4.68 |
Refractory Shapes IPO GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 13 May 2024 | 20 | – | 48,000 |
| 11 May 2024 | 18 | – | 38,000 |
| 10 May 2024 | 17 | – | 35,000 |
| 9 May 2024 | 15 | – | 25,000 |
| 8 May 2024 | 15 | – | 21,500 |
| 7 May 2024 | 10 | – | 18,000 |
| 6 May 2024 | 10 | – | 18,000 |
| 4 May 2024 | 5 | – | 10,000 |
| 3 May 2024 | 5 | – | 10,000 |
| 2 May 2024 | 5 | – | 10,000 |
Refractory Shapes IPO Allotment Status
Refractory Shapes IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Refractory Shapes IPO Listing Details
| Listing Date | 14 May 2024 |
| BSE Script Code | – |
| NSE Symbol | REFRACTORY |
| ISIN | INE0TNX01015 |
| Final Issue Price | ₹31 per share |
Refractory Shapes IPO Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | ₹31.00 |
| Open | ₹75.00 |
| Low | ₹75.00 |
| High | ₹78.75 |
| Last Trade | ₹78.75 |
Refractory Shapes IPO Lead Manager(s)
SHRENI SHARES LIMITED
Office No. 217, Hive 67 Icon, Poisar Gymkhana Road,
Lokmanya Tilak Nagar Poisar, Near Raghuleela Mall,
Kandivali West, Mumbai-400067, Maharashtra
Phone: 022 2089 7022
Email: shrenishares@gmail.com
Website: www.shreni.in
Refractory Shapes Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Refractory Shapes Contact Details
REFRACTORY SHAPES LIMITED
B 201, Rustomjee Central Park Chakala,
Andheri-Kurla Road, Andheri (East), Mumbai-400069
Phone: +91 9819995930
E-mail: investors@refshape.com
Website: www.rsplgroup.com
Refractory Shapes IPO FAQs
What is the Refractory Shapes offer size?
Refractory Shapes offer size is ₹16.20 – ₹18.60 crores.
What is the Refractory Shapes offer price band?
Refractory Shapes public offer price is ₹27 – ₹31 per share.
What is the lot size of the Refractory Shapes IPO?
Refractory Shapes offer lot size is 4,000 shares.
What is Refractory Shapes IPO GMP today?
Refractory Shapes IPO GMP today is ₹20 per share.
What is the Refractory Shapes kostak rate today?
Refractory Shapes kostak rate today is ₹ NA per application.
What is Refractory Shapes Subject to the Sauda rate today?
Refractory Shapes is Subject to the Sauda rate today is ₹48,000 per application.
Final thoughts
Refractory Shapes IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
