Refractory Shapes IPO: The initial public offering of Refractory Shapes Ltd is going to be opened for public subscription on May 6. The Rs 18.60-crore SME IPO, the price band of which has been fixed at Rs 27-Rs 31 per share, will be closed on May 9.
Refractory Shapes manufactures various types of bricks, castables, high alumina catalysts and ceramic balls.
The Refractory Shapes IPO allotment will be finalised on May 10, while its listing will likely take place on May 14 on the NSE SME.
Refractory Shapes IPO: Price
The IPO is entirely a fresh issue of 60 lakh shares. Its price band is set at Rs 27 to Rs 31 per share.
Refractory Shapes IPO: Lot Size
For investors, the minimum lot size for an application is 4,000 shares. The minimum amount of investment required by retail investors is Rs 1,24,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to Rs 2,48,000.
Refractory Shapes IPO GMP Today
According to market observers, unlisted shares of Refractory Shapes Ltd are trading Rs 5 higher in the grey market as compared with its issue price. The Rs 5 grey market premium or GMP means the grey market is expecting a 16.13 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Shreni Shares Limited is the book running lead manager of the Refractory Shapes IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Refractory Shapes IPO is Shreni Shares.
Refractory Shapes IPO Quota
The IPO is reserved 50 per cent for qualified institutional buyers (QIBs). Retail investors will be able to participate in 35 per cent of the issue, while the remaining 15 per cent is reserved for high networth individuals or non-institutional investors (NIIs).
Refractory Shapes Ltd’s revenue rose 47.7 per cent, whereas its net profit declined 33.2 per cent in the financial year 2022-23.
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