Refractory Shapes IPO open for subscription: Check price band, lot size, key dates
Upstox
3 min read • Updated: May 6, 2024, 3:17 PM
Summary
Refractory Shapes IPO subscription window will remain open from May 6 to May 9 for public bidders. The NSE SME public offer is a 100% book-built issue worth ₹18.6 crore.
Construction materials maker Refractory Shapes is all set to launch its initial public offering (IPO) on Monday, May 6. Refractory Shapes IPO is a 100% book-built issue comprising an entirely fresh issue of 60 lakh shares.
If you are looking forward to participating in the Refractory Shapes Ltd IPO subscription, here are the key details to know before bidding.
Refractory Shapes IPO price band and lot size
Refractory Shapes IPO price band has been finalised in a range of ₹27 to ₹31 per share of face value of ₹10 each. The lot size for retail investors is 4,000 shares, which translates into a minimum application amount of ₹1,24,000.
Refractory Shapes IPO offer size
The 100% book-built issue comprises an entirely fresh issue of 60 lakh shares with no offer-for-sale component. The total offer size includes a market maker portion of 3,04,000 shares.
The company has set aside 50% of the net issue size for qualified institutional buyers (QIBs) and 35% for the retail investors. The remaining 15% has been reserved for non-institutional investors (NIIs).
To know more and apply for Refractory Shapes IPO, click here
Refractory Shapes IPO dates
The Refractory Shapes IPO will open for subscription on Wednesday, May 6, and close on May 9. Refractory Shapes IPO share allotment status is expected to be finalised on May 10.
The successful bidders can expect the transfer of shares into their Demat accounts by May 13 and the refunds for non-allottees will be initiated the same day. Refractory Shapes IPO shares are tentatively scheduled to be listed on the SME platform of the National Stock Exchange of India (NSE), Emerge, on May 14.
The book running lead manager of the IPO is Shreni Shares, Bigshare Services Pvt Ltd is the registrar for the issue. Shreni Shares is also the market maker for the issue.
Refractory Shapes IPO objective
Refractory Shapes plans to use IPO proceeds for funding capital expenditure towards civil aviation and for setting up of a manufacturing unit at Wankaner, Gujarat. The company will also use the funds for the purchase of plant and machinery for Expanding and setting up a new manufacturing unit. The funds will be used for the purchase of commercial vehicles and general corporate purposes.
About Refractory Shapes Ltd
Incorporated in 1996, Refractory Shapes Ltd is engaged in manufacturing bricks, castables, high alumina catalysts and ceramic balls. The Company's manufacturing facilities are located at Pimpri Industrial Area, Pune, Maharashtra, and at Wankaner in Morbi district of Gujarat.