Refractory Shapes Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | May 6, 2024 to May 9, 2024 |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 27 to ₹ 31 per share |
| Lot Size | 4,000 Shares |
| Total Issue Size | 60,00,000 shares (aggregating up to ₹ 18.60 Cr) |
| Fresh Issue | 60,00,000 shares (aggregating up to ₹ 18.60 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,58,00,000 |
| Share holding post issue | 2,18,00,000 |
| Market Maker portion | 3,04,000 shares Shreni Shares |
About Refractory Shapes Limited IPO
REFRACTORY SHAPES Ltd. produces Special Shapes, Custom made Refractory shapes & Ceramic Balls of Low & Medium purity of top quality with superior performance. The company has a fully equipped plant and is situated in Pune, India, 170 kms. From Mumbai with latest equipment to produce Refractory Shapes and Castables of highest standards. However, its most important asset is the skill of workmen, acquired over three decades of manufacture. Refractory aggregates from carefully selected and processed raw material are also produced at the plant. Refractory Shapes IPO is a book built issue of Rs 18.60 crores.
The issue is entirely a fresh issue of 60 lakh shares. Refractory Shapes IPO price band is set at ₹27 to ₹31 per share. The minimum lot size for an application is 4000 Shares. Shreni Shares Limited is the book running lead manager of the Refractory Shapes IPO, while Big share Services Pvt Ltd is the registrar for the issue. The market maker for the Refractory Shapes IPO is Shreni Shares.
Objectives of Refractory Shapes IPO
The company proposes to utilise the Net Proceeds from the Issue towards funding the following objectives:
- 1. 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.
- 2. 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.
- 3. Purchase of commercial vehicles.
- 4. General corporate purposes.
Refractory Shapes Limited IPO Review
The company is operating in a highly competitive and fragmented segment. It marked inconsistency in its bottom lines for the reported periods. Based on FY24 super annualised earnings, the issue appears fully priced. Well-informed investors may park moderate funds for the medium to long term rewards.
Refractory Shapes Limited IPO Financial Information
Latest Revenue
2,999.04
₹ Crore
Profit After Tax
307.94
₹ Crore
Net Worth
396.58
₹ Crore
Total Borrowing
2,341.80
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Dec 2023 | 5,289.90 | 2,999.04 | 307.94 | 396.58 | 2,341.80 | ||||
| 31 Mar 2023 | 5,003.81 | 3,872.23 | 191.74 | 1,668.64 | 2,048.63 | ||||
| 31 Mar 2022 | 3,684.82 | 2,621.67 | 287.04 | 1,476.90 | 1,570.12 | ||||
| 31 Mar 2021 | 2,723.72 | 2,179.67 | 156.39 | 1,189.86 | 1,234.18 | ||||
| Amount in ₹ Crore | |||||||||
Refractory Shapes Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 15.58% |
| ROCE | 9.79% |
| Debt/Equity | 1.18 |
| RoNW | 15.58% |
| P/BV | 4.95 |
| PAT Margin (%) | 10.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.21 | 1.88 |
| P/E (x) | 25.55 | 16.46 |
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Competitive Strengths
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Refractory Shapes Limited IPO Timeline
| 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 confirmation | 5 PM on May 9, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹124,000 |
| Retail (Max) | 1 | 4000 | ₹124,000 |
| HNI (Min) | 2 | 8,000 | ₹248,000 |