Refractory Shapes Limited IPO share allotment likely on May 10: Steps to check status online

Refractory Shapes Ltd IPO share allotment status is expected to be finalised by the company on Friday, May 10. The ₹18.6-crore initial public offer of the refractories products supplier saw a massive response for the investors as the IPO was booked more than 255 times.

After the end of the subscription window on Thursday, the investors are waiting for the share allotment status. The Refractory Shapes Limited IPO shares are tentatively scheduled to get listed on the NSE SME platform on Tuesday, May 14.

Refractory Shapes Ltd will announce the basis of share allotment on Friday. Investors can follow these steps to check Refractory Shapes Ltd IPO share allotment easily. Bidders will also be updated about the share allotment through emails and SMS.

How to check Refractory Shapes Ltd share allotment on IPO registrar Bigshare Services Pvt Ltd website

• Visit the official website of Bigshare Services Pvt Ltd (https://www.bigshareonline.com)
• Select any one server
• Click on IPO allotment status (www.bigshareonline.com/ipo_Allotment.html)
• Choose "Refractory Shapes Ltd" from the dropdown list
• Choose Application number or PAN ID
• Complete the 'captcha' to verify
• Click the ‘Search’ button to check your allotment status

How to check Refractory Shapes Ltd share allotment on the NSE website?

• Go to NSE IPO allocation status page at : https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Login with username and password
• Select Refractory Shapes Ltd
• Verify PAN No
• Enter IPO application No
• Click on ‘Submit’

Refractory Shapes Ltd IPO subscription

Refractory Shapes Ltd IPO received a strong demand from retail investors. The IPO which comprised a fresh issue of 60 lakh shares was a book built issue. The IPO opened for subscription on May 6 and closed on May 9. The price band was ₹27 to ₹31 per share.

According to exchange data, Refractory Shapes Ltd IPO was subscribed more than 255 times. Investors placed bids for 101.95 crore shares worth ₹3,160 crore against 39.96 lakh shares on offer.

Qualified institutional buyers placed bids for 10.36 crore shares against 11,44,000 shares on offer, translating into a subscription of over 90 times.

Non-Institutional Buyers placed bids for 39.75 crore equity shares against 8.56 lakh shares on offer. The NII category was subscribed 464 times.

Retail investors place bids for 51.80 crore shares against 19.96 lakh shares on offer. The retail investors’ portion was subscribed by nearly 260 times.

Refractory Shapes Ltd IPO objects

The refractory products designed by the company are used in a diverse range of industries, including steel, refineries, fertilizers, petrochemicals, glass and cement.

The company has proposed to utilise ₹4.29 crore of IPO proceeds to finance capital expenditure towards civil construction required for expansion of existing manufacturing units at Wankaner, Gujarat.

It has also proposed to use ₹2.5 crore for funding the purchase of plant and machinery for expanding the existing manufacturing unit at Wankaner.

The company will utilise ₹ 7 crore for repayment/prepayment of all or certain of borrowings and the rest for purchase of commercial vehicles and general corporate purposes.

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