SP Refractories IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022As the economy attempts to rapidly cope from the disruptions of COVID-19, many enterprises are also entering in the listing game.
Some are seeking the door of listing on stock exchanges for attaining advantages of listing, some are trying to urge funds for repaying debts and maintain their operations and some are planning to breakthrough into new industries and become international.
Not just on the high-quality mainboard stock exchanges, but SME enterprises are also now realizing the value of the platform and are proposing IPOs on NSE EMERGE and BSE SME Platform.
One of such SME entities is SP Refractories Limited, engaged in the business of manufacturing, exporting and supplying high quality Refractory Material, the company has proposed an IPO.
SP Refractories IPO is of about 5,47,200 Equity Shares.
With this SP Refractories IPO Review into we will give you insights of this upcoming IPO.
| Face Value | Rs.10 |
| Price Band | Rs.90 |
| Listing At | NSE, SME |
| Min. Order Quantity | 1600 Shares |
| Listing Date | Mar 22, 2022 |
| Offer for Sale | Rs. 2.25 Crores |
| Fresh Issue | Rs. 2.68 Crores |
| IPO Size | Rs. 4.92 Crores |
| Tick Size | 1 |
SP Refractories IPO Overview
SP Refractories IPO is a combination of a fresh issue and an offer for sale. Some of the promoters will be dwindling some of their shares in the IPO.
The company has been in operations since 2007. The offered shares in the IPO will be listed on the EMERGE Platform of National Stock Exchange of India Limited.
SP Refractories IPO Important Dates
| Events | Date |
| IPO Opening Date | Mar 9, 2022 |
| IPO Closing Date | Mar 11, 2022 |
| Basis of Allotment Finalization | Mar 16, 2022 |
| Refunds Initiation | Mar 17, 2022 |
| Credit of Shares to Demat Account | Mar 21, 2022 |
| Share Listing Date | Mar 22, 2022 |
SP Refractories IPO Date has been determined.
In the implementation of the IPO, the company has changed its status from a private company to a public company since private companies are prohibited from making offers to the public at large to subscribe to their securities.
The company has filed its preliminary documents with SEBI to cast around The for approval. After receiving its approval, SP Refractories will be going forward with the remaining procedure of floating the IPO.
SP Refractories IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs. 90 |
| Offer for Sale | Rs. 2.25 Crores |
| Fresh Issue | Rs. 2.68 Crores |
| IPO Size | Rs. 4.92 Crores |
SP Refractories IPO Size will be of 5,47,200 equity shares. Of which 2,97,600 equity shares will be issued by means of a Fresh Issue and the remaining 2,49,600 equity will be offered to the public through an Offer for Sale.
The company will only receive proceeds from the Fresh Issue. Selling shareholders will be entitled for the proceeds received for Offer for Sale. Also, some portion of the issue will be reserved for the Market Makers.
After deducting such Market Maker Reservation Portion, the net will be offered to the public for subscription.
SP Refractories IPO Price will be determined by the company.
SP Refractories IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| Not Trading in Grey Market yet | |||
SP Refractories IPO GMP is not available right now. Grey market plays a significant part in the IPO process.
Grey Market Premium or GMP is the premium amount at which the shares of the issuer company are dealt in the Grey Market.
SP Refractories is waiting for the SEBI approval. Thereafter, the company will declare the IPO date. Also, the issue is a Fixed Price Issue, the price will be determined by the company itself.
SP Refractories IPO Subscription Status
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 9th March | 0.22x | 0.69x | 0.46x |
| 2nd Day – 10th March | 1.64x | 2.52x | 2.08x |
| 3rd Day – 11th March | 5.64x | 8.85x | 7.24x |
| Shares Offered or Net Issue | 259,200 | 259,200 | 518,400 |
SP Refractories IPO Subscription will be updated soon. The face value of the shares offered in the IPO is Rs. 10 each.
Shares to the public will be offered after reducing the portion of Market Maker which is 28,800 equity shares in this IPO. The issue is 30.58% and the net Issue is 28.97% respectively of the post issue paid-up equity share capital of the company.
The shares will be listed on the NSE EMERGE Platform of NSE.
The Lead Managers of the issue are:
- ARYAMAN FINANCIAL SERVICES LIMITED
The details in respect of the price band and subscription will be made available in a short time.
SP Refractories IPO Allotment Status
The basis of SP Refractories IPO Allotment will be determined by the issuer company.
The Lead Manager to the issue is Aryaman Financial Services Limited.
The Registrar to the issue is Bigshare Services Private Limited.
SP Refractories IPO Live Performance
Check the SP Refractories IPO Performance and SP Refractories IPO Price from the link given below. The information will be updated as soon as the IPO is live.
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Latest SP Refractories IPO News
SP Refractories – Company Review
SP Refractories Limited was incorporated in the year 2007. The company is engaged in the business of manufacturing, exporting and supplying Refractory Material.
The company undertakes the manufacturing and supplying of Refractory Material with the help of hydrated lime, Calcined Alumina and other raw materials.
The focal point of the company is refractory cement. SP Refractories mainly serves the entities in iron & steel and construction industries.
Working for over 15 years in the industry, the company has developed a distinct position in the refractory cement niche.
The market is high margin and the entity with its high-quality goods and diversified product portfolio is making year-on-year progress.
The products of the company are highly preferred in the iron & steel and construction industries for its Maximum strength, thermal conductivity and heat resistance.
Products or Services
S.P Refractories Private Limited offering Refractory Material since 2007. One of the acknowledged and preferred suppliers, the company caters to the needs of its customer with its customized solutions and wide-reaching product portfolio.
The company has one in-house manufacturing unit and one storage facility located in Nagpur. S.P Refractories has clinkers manufacturing capacity of 4000 MT per year and Clinker crushing capacity of 6000 MT per year.
Some of the big players S.P Refractories is serving are Tata Refractories; Bhilai Steel Plant, Bhilai; Ramisol, Bangalore and Vishwakarama Ref Pvt. Ltd., Bangalore.
For better efficiency and ensuring the high parameters of quality, the company also has an in-house testing unit where each produced unit is tested before delivering it to the customer.
Promoters and Holding
The promoters of S.P Refractories Private Limited are:
- Namita Prabodh Kale
- Shweta Prabodh Kale
- Prajakta Prabodh Kale
In the IPO, the following promoters will be offering their shares for sale, namely:
- Up to 1,24,800 by Shweta Prabodh Kale
- Up to 1,24,800 by Prajakta Prabodh Kale
The management of the company comprises of:
- Namita Prabodh Kale holds the position of Whole-time Director
- Shweta Prabodh Kale holds the position of Executive Director and Chief Financial Officer
- Prajakta Prabodh Kale holds the position of Non-Executive Director
- Manish Tarachand Pande holds the position of Non-Executive Independent Director
- Kushal Sanjay Sabadra holds the position of Non-Executive Independent Director
- Shreeya Jajoo holds the position of Company Secretary & Compliance Officer
Is SP Refractories good for Investment?
S.P Refractories Private Limited is in operations for over 15 years. The company provides Refractory Material.
S.P Refractories offers Refractory Castables and High Alumina Refractory Cement. The company has developed a prominence in the niche and is offering high quality material with its in-house manufacturing and testing facility.
Some of the dominant market players are,long-term customers of the company. The promoters and management has played a crucial role in making the company what it is today.
Currently, the company employs 51-100 people for the manufacturing and operations. One of the competitive advantages of the company is its sizeable production capacity.
SP Refractories Financial Statements
| Amount (in INR & Lakhs) | ||||
| 30-Sept-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Assets | 1,232.20 | 1,057.17 | 898.33 | 792.01 |
| Revenue | 1,447.64 | 2,572.48 | 2,099.59 | 1,855.95 |
| Expense | 1,338.53 | 2,467.94 | 2,044.36 | 1,827.82 |
| Profit After Tax | 80.74 | 75.35 | 39.93 | 20.59 |
SP Refractories has delivered total revenues of Rs. 1,855.95 lakh, Rs. 2,099.59 lakh and Rs. 2,572.48 lakh for the financial year 2019, 2020 and 2021 respectively.
Profits for the financial year 2019, 2020 and 2021 were Rs. 20.59 lakh, Rs. 39.93 lakh and Rs. 75.35 lakh respectively.
We can say that the company is growing with each year. The company provides high quality material goods and its customers acknowledge the same.
The EPS of the company was almost doubled from Rs. 2.68 in 2020 to Rs. 5.05 in 2021 and even in the next six months ended September 30, 2021, the EPS stood at Rs. 5.41.
| Earnings per Equity Share (in Lakhs) | ||||
| 30-Sept-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted | 5.41 | 5.05 | 2.68 | 1.38 |
SP Refractories IPO Review
SP Refractories is gearing up to garner funds from the public with the upcoming IPO of 5,47,200 equity shares. The IPO is divided into Fresh Issue and Offer for Sale.
Two of the promoters, Shweta Prabodh Kale and Prajakta Prabodh Kale will be offloading their stakes in the company.
About 28,800 equity shares will be reserved for allocation to Market Makers. SP Refractories IPO is proposed to be listed on the SME segment of NSE.
With this IPO, the company will get the exposure and advantage of listing. The company is raising funds to fund its working capital requirements.
The company has a strong product portfolio, large production capacity, prominent long term customers, high scalability, and experienced management which have been strong strides for the growth of the company.
SP Refractories IPO Details
Here are few more details you need to know before investing in SP Refractories IPO –
SP Refractories IPO Issue Object
SP Refractories has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Funding Working Capital Requirement
- General Corporate Purpose
SP Refractories IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Promoter and management team with strong industry expertise and successful track record
- Long-Standing Relationship with key Customers & Suppliers
- Strong Balance Sheet and Financial Condition
- Quality Assurance
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 5.05 | 16.13 | 31.31 |
| 31-Mar-20 | 2.68 | 10.20 | – |
| Mar-19 | 1.38 | 5.85 | – |
SP Refractories IPO Lead Managers
Here are the list of Lead managers –
- ARYAMAN FINANCIAL SERVICES LIMITED
SP Refractories IPO Registrar to offer
Check out the details of the registrar here –
BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis
Makwana Road, Marol, Andheri East, Mumbai – 400 059
Tel. No.: +91 22 6263 8200
Email:ipo@bigshareonline.com
Website:www.bigshareonline.com
Investor Grievance Email:investor@bigshareonline.com
Contact Person: Babu Rapheal
SEBI Registration No.: INR000001385
SP Refractories IPO – Other Details
- Statutory Auditor – M/s. Zoeb Anwar & Co., Chartered Accountants
- Legal Counsel to the Company – M/S. ABDUS SAMEE ABDUL QADIR MANIYAR (A. A. MANIYAR) (ADVOCATE)
- Bankers to the Company – NA
SP Refractories IPO Verdict by Stock Brokers
SP Refractories IPO – Conclusion
The Refractory Material manufacturer and exporter SP Refractories has made a well-built name in the industry.
The company has steady revenues. The growth of the company depends upon the diversification of products and enhancing its reach.
The company might turn out a good investment with the aim of stable income. The investors shall thorough its scalability and growth plans before considering investing in the company.
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SP Refractories IPO Review FAQs
Check out the FAQs on SP Refractories IPO –
What is the Issue Size of SP Refractories IPO?
The Company is making an initial public offer of 5,47,200 equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of SP Refractories IPO?
The price band for this particular IPO ranges between Rs. 90. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the SP Refractories IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Mar 9, 2022, while the closing date is set at Mar 11, 2022.
What is the SP Refractories IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on Mar 16, 2022, refund initiation is on Mar 17, 2022, credit of shares is on Mar 21, 2022, and share listing date is on Mar 22, 2022.
What is the SP Refractories IPO Listing Date?
Shares of this company shall be listed in the exchanges Mar 22, 2022. The date, when the listing would be done, is stagnant on Mar 22, 2022.
Who is the Registrar of SP Refractories IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. BIGSHARE SERVICES PRIVATE LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of SP Refractories IPO?
Here are the promoters of this IPO – Namita Prabodh Kale, Shweta Prabodh Kale and Prajakta Prabodh Kale. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of SP Refractories IPO?
They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is SP Refractories IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of SP Refractories Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 75.35, 2020 is 39.93, 2019 is 20.59. PAT from Sept 2021 is 80.74.
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