Refractory Shapes specializes in manufacturing various refractory products. Their product range includes different types of bricks and castables, high alumina catalysts, and ceramic balls. They produce pre-cast and pre-fired blocks, burner blocks, specially shaped refractory bricks, dense and insulating castables, and mortars.
| Bidding Dates |
|---|
| 06 May 2024 - 09 May 2024 |
| Subscription |
|---|
| 237.11x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,08,000 | 1 | 1 | 4000 | 6.0 M | ₹27 - ₹31 | 72.48 % | ₹162.0 M - ₹186.0 M | RHP DOC |
Refractory Shapes IPO SUBSCRIPTION STATUS
09 May '24Refractory Shapes IPO overall subscription rate was 237.11 times the total available shares
Refractory Shapes IPO retail subscription rate was 344.24 times in the retail segment
Refractory Shapes IPO non-institutional investor subscription rate was 616.83 times in the non-institutional investor category
Refractory Shapes IPO Qualified Institutional Bidder subscription rate was 48.2 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
09 May 2024 (Day 4) | 344.24x | 616.83x | 48.2x |
08 May 2024 (Day 3) | 81.3x | 47.24x | 0.04x |
07 May 2024 (Day 2) | 39.18x | 25.77x | 0.03x |
06 May 2024 (Day 1) | 10.89x | 3.53x | 0.01x |
Refractory Shapes FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 9MFY24 | 30.8 | 294.2 | -21.1 | -35.3 | 20.7% |
| FY23 | 19.2 | 379.7 | 17.0 | -53.8 | 10.2% |
| FY22 | 28.7 | 255.0 | 75.7 | 12.5 | 14.2% |
| FY21 | 15.6 | 208.9 | 51.8 | 50.1 | 11.2% |
Refractory Shapes IPO SUBSCRIPTION STATUS DETAILS
Refractory Shapes had 6.0 M shares on offer
Refractory Shapes IPO offer price was in the range ₹27 - ₹31
Refractory Shapes IPO minimum Investment was ₹108000
Refractory Shapes IPO issue size was ₹ 162.0 M - ₹ 186.0 M
Refractory Shapes had a minimum lot size of 4000 Shares per application
Refractory Shapes NUMBER OF SHARES ON OFFER
Refractory Shapes IPO IMPORTANT DATES
| Issue Open Date | 06 May 2024 |
| Issue close Date | 09 May 2024 |
| Allotment Date | 10 May 2024 |
| Refund Date | 13 May 2024 |
| Demat Account Credit Date | 13 May 2024 |
| Listing Date | 14 May 2024 |
| Listing on Exchange(s) | NSE |
| Refractory Shapes Allotment Status | Exchange |
Refractory Shapes IPO subscription opened on 06 May 2024, and closed on 09 May 2024
IPO allotment for Refractory Shapes was finalized on Friday, 10 May 2024
IPO listing for Refractory Shapes was on NSE on Tuesday, 14 May 2024
Refractory Shapes IPO LISTING GAINS
| Issue Price (adjusted) | 31.0 |
| Listing Open Price | 75.0 |
| Listing Close Price | 78.8 |
| Listing Gain% | 141.9% |
| Current Gain% | -18.4% |
Refractory Shapes Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Refractory Shapes Ltd. | 25.3 | 55.2 | 12.2 | -0.4 | 0.9 | 9 | 5.9 | 58.6 | -2.1 | 4.5 | -27.7 | 2.1 | -27.7 |
| Esab India Ltd. | 5631.5 | 8668.6 | 41.9 | 2.4 | 5.7 | 48.1 | 29.6 | 1514.2 | 9.6 | 206.7 | 17.8 | 134.3 | 17.8 |
| Shivalik Bimetal Controls Ltd. | 920.9 | 5304.8 | 50 | 1.7 | 8.6 | 19.9 | 15.1 | 583.1 | 11.9 | 95.9 | 24.4 | 18.4 | 29.3 |
| Ador Welding Ltd. | 1483.4 | 2581.5 | 22.7 | 0.1 | 2.2 | 14.8 | 9.8 | 1158.2 | 1.5 | 82 | 36.5 | 65.2 | 213.2 |
| Diffusion Engineers Ltd. | 441 | 1650.5 | 32.8 | 0.8 | 4.1 | 12.4 | 9.8 | 421.6 | 22.4 | 50.3 | 40.1 | 13.4 | 40.1 |
| Gala Precision Engineering Ltd. | 1036.4 | 1328.3 | 35.8 | 1 | 4.1 | 12.1 | 9.5 | 319.9 | 32.1 | 35.5 | 32.2 | 29 | 37.2 |
Refractory Shapes INFORMATION ON IPO ISSUE
About Refractory Shapes
Refractory Shapes specializes in manufacturing various refractory products. Their product range includes different types of bricks and castables, high alumina catalysts, and ceramic balls. They produce pre-cast and pre-fired blocks, burner blocks, specially shaped refractory bricks, dense and insulating castables, and mortars.
Object of the Issue
- Funding of capital expenditure for civil construction to expand and establish a new manufacturing unit at the existing site in Wankaner, Gujarat.
- Funding of capital expenditure for the purchase of plant and machinery to expand and set up a new manufacturing unit at the existing location in Wankaner, Gujarat.
- Purchase of commercial vehicles.
- General corporate purposes.
Refractory Shapes - PROMOTERS
| Name |
|---|
| Dayashankar Krishna Shetty |
| Pratibha Dayashankar Shetty |
| Prajna Shravan Shetty |
Refractory Shapes Lead Manager of the Issue
Sherni Shares Limited
shrenishares@gmail.com
Refractory Shapes Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Refractory Shapes Strengths
Vast experience
The company has been manufacturing various types of bricks and castables for over two decades and has been producing high alumina catalysts and ceramic balls since 2003
Wide & strong customer base
The company has a pan-India presence, boasting a wide customer base across all major states in India
Product & service quality
The long-term success of the company hinges on its ability to consistently deliver excellence in both the perceived and realized value of its products and services to customers
Refractory Shapes Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, its promoters, promoter group, directors, and group companies. Any adverse decision in these proceedings may have a material adverse effect on the business
Negative cash flows
The company has experienced negative cash flows in recent years. Sustained negative cash flow could adversely impact the company's growth and business operations
IPO FAQs
The promoters of the company are Dayashankar Krishna Shetty, Pratibha Dayashankar Shetty and Prajna Shravan Shetty.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 27.0 - 31.0.
The IPO application opens on May 06, 2024 and closes on May 09, 2024.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 108,000.0, the maximum value for this IPO is Rs 124,000.0.
This IPO will be allotted on May 10, 2024.
The refund will be credited to your account on May 13, 2024.
The allotted shares will be credited to your demat on May 13, 2024.
Refractory Shapes Ltd.’s shares listed on the stock exchanges on May 14, 2024.