IPO Details
Bidding Dates
06 May 24 - 09 May 24
Price Range ₹
27 - 31
Total Equity
₹ 18.60Cr
Lot Size
4000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
06 May 2024
Offer end
09 May 2024
Allotment
10 May 2024
Refund initiation
13 May 2024
Demat transfer
13 May 2024
Listing
14 May 2024
Offer start
06 May 2024
Offer end
09 May 2024
Allotment
10 May 2024
Refund initiation
13 May 2024
Demat transfer
13 May 2024
Listing
14 May 2024
About Company
Refractory Shapes Limited, established in 1996, specializes in the production of various refractory products such as bricks, castables, high alumina catalysts, and ceramic balls. Its product range includes pre-cast and pre-fired blocks (PCPF), burner blocks, specially shaped refractory bricks, dense and insulating castables, and mortars. The company also fulfills orders for metallic anchors, essential for supporting refractory castings, requiring materials like tabular alumina, low alumina bricks, and insulating bricks. Manufacturing facilities are situated in Pimpri Industrial Area, Pune, Maharashtra, covering 34,788 sq. ft., and in Wankaner, Morbi district, Gujarat, spanning 1,74,246 sq. ft. Additionally, the company possesses an adjacent 4-acre plot with 1,74,240 sq. ft. in Wankaner, Gujarat, intended for expanding production capabilities, incorporating an extra kiln, and diversifying into various types of refractory bricks using pressing machines.
Year Founded
08-01-1996
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 72.47 |
| Share Capital | 15800000 | 15800000 |
Offer to Public
60,00,000.00 Cr
Project Details
- Repayment/prepayment of all or certain of our borrowings availed of by our Company - 70cr
- Funding of Capital expenditure towards purchase of Plant and Machineries for Expanding existing - 25.098cr
- Funding of Capital expenditure towards civil construction required for Expansion of existing - 42.978cr
- Purchase of Commercial Vehicle - 1.1cr
Objectives
- 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 purchase of Plant and Machineries for Expanding and setting up a new manufacturing unit at the existing location situated at Wankaner, Gujarat.Purchase of commercial vehicle.General corporate purposes..
Highlights
- Refractory Shapes Limited has been supplying products to Refineries and Steel Industries since its inception in 1973, indicating a strong foothold and industry experience.
- Becoming an approved vendor with EIL and getting enlisted for "High Alumina Refractory Bricks" has opened up opportunities in green field projects, enhancing the company's credibility and market reach.
- The company's tailored products find applications across various industries such as Steel, Refineries, Fertilizers, Petrochemicals, Glass, and Cement, diversifying its revenue streams and reducing dependency on specific sectors.
- Refractory Shapes Ltd engineers its products to withstand harsh industrial conditions, contributing to enhanced operational efficiency and extended equipment life for its clients.
- In addition to manufacturing, the company is involved in trading activities, enabling it to fulfill orders for items not manufactured in-house, thereby offering a comprehensive solution to its clients.
Challenges
- The company, its promoters, directors, and group entities are involved in outstanding legal proceedings, and adverse decisions in these cases could significantly impact its business, financial condition, and reputation.
- Historical negative cash flows pose a risk to the company's growth and business sustainability if sustained over time.
- As an approved vendor enlisted by Engineers India Limited (EIL), failure to maintain this recognition could harm the company's brand value, reputation, and adversely affect its business operations and financial performance.
- Any disruptions or fluctuations in the supply of raw materials may impact product pricing and adversely affect the company's business, financial condition, and cash flows.
- The company's products cater to specific industries, and any reduction in demand from these sectors could lead to a loss of business, affecting its financial performance and condition.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2023 | 4,912.52 | 10.00 | 191.78 | 191.78 | 1.2138 |
