Zircar Refractories IPO Dates, Bid, Size, Allotment, Subscription, GMP, Listing, Price
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Zircar Refractories Limited IPO release date, IPO offer price, Zircar IPO subscription, Zircar Refractories IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters, and other related things.
Zircar Refractories Limited IPO Review & Ratings
| Zircar IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 7.5/10 |
| Industry Ranking | 7.1/10 |
| Company Background | 7.3/10 |
| Company Reputation | 7.2/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.1/10 |
| Popularity Index | 7.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.1/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 7.4/10 |
| Star Ratings | ★★★★☆ |
Summary of Zircar Refractories Limited IPO
Zircar is an ISO 9001:2015 certified Company, primarily engaged in the business of manufacturing of Silicon Carbide Crucibles, Clay Graphite Crucibles & its accessories.
Company also undertake manufacturing of refractory products such as Clay -Graphite Refractory Components, Continuous Casting Refractories (CCR) and Slide Gate Refractories (SGR) & monolithic etc.
They supply products across India through dealers’ network. Also, they supply crucibles directly through tender to BHEL, SAIL Bhilai, SAIL Rourkela, SAIL Kulti and Ordnance Factory at Ambajhari, Nagpur. Company manufactures quality Clay-Graphite components for steel foundries for casting operations.
The Promoters of this company are Zircar Refractories Limited is HIRALAL RAI AND KAMLA RA. The lead managers to the issue are PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED and the Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.
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Zircar Refractories IPO Date
The opening and the closing date of the Zircar Refractories Limited IPO are not known yet.
Zircar Refractories IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| 4th Day – | ||||
| 5th Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Zircar Refractories IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | |
| Refunds Initiation | |
| Credit of Shares to Demat Account | |
| Share Listing Date |
Zircar Refractories Limited IPO Price Band or Cash Price
Rs. [•] per Equity Share
Zircar Refractories Limited IPO Issue Size
Rs. [•] per Equity Share
Zircar Refractories IPO Equity Share Offering
The Issue size comprises issuance of up to 51,00,000 Equity Shares of face value of Rs. 10 each fully paid-up for cash at price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs.
Zircar Refractories Limited – Company Overview
Company was originally incorporated as “Zircar Ceramics Private Limited” at Mehsana, Gujarat as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated March 13, 1996 issued by the Registrar of Companies, Gujarat, Nagar & Dadra Havelli bearing Registration number 04-29048 of 1995-96.
In order to reflect the business of the company through the name appropriately, the name of the Company was changed to Zircar Crucibles Private Limited, pursuant to a Special Resolution passed by the members of Company in an Extraordinary General Meeting held on April 05, 2010 and a fresh Certificate of Incorporation dated April 27, 2010 consequent upon Change of name was issued by Assistant Registrar of Companies Gujarat, Dadra & Nagar Havelli. A fresh Certificate of Incorporation dated October 31, 2018, issued by the Registrar of Companies, Ahmedabad.
Zircar Refractories Limited Business Model
They are an ISO 9001:2015 certified Company, primarily engaged in the business of manufacturing of Silicon
Carbide Crucibles, Clay Graphite Crucibles & its accessories.
Company also undertake manufacturing of refractory products such as Clay -Graphite Refractory Components, Continuous Casting Refractories (CCR) and Slide GateGate Refractories (SGR) & monolithic etc. Crucibles are used primarily for melting of Non-Ferrous metals like Copper, Brass, Gun Metal, Bronze, Aluminium, Zinc, Gold and Silver etc.
Zircar Refractories Limited Business Process
They supply their products across India through our dealers’ network. Company supply crucibles directly through tender to BHEL, SAIL Bhilai, SAIL Rourkela, SAIL Kulti and Ordnance Factory at Ambajhari, Nagpur.
They manufacture quality Clay-Graphite components for steel foundries for casting operations. Stoppers and Ingate Sleeves are being supplied to Rail Wheel Factory, Indian Railways at Bangalore through tendering process
Business strategies of Zircar Refractories Limited
- Setting up of new manufacturing facility
- Improving functional efficiency
- Enhance customer base by entering new geographies
- Brand image
- Leveraging our market skills and relationship
Zircar Refractories Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary of Zircar Refractories Limited IPO
On the basis of Standalone statement:-
| Amount (in INR & lakhs) | |||
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Total Assets | 7,080.40 | 5,697.41 | 4,462.16 |
| Total Revenue | 5,883.75 | 4,602.21 | 4,207.95 |
| Total Expense | 5,508.34 | 4,261.52 | 3,934.85 |
| Profit After Tax | 260.28 | 271.52 | 184.97 |
Earnings per Equity Share (in lakhs)
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Basic & Diluted | 3.34 | 4.00 | 2.72 |
From the above statements, one could find that Zircar Refractories Limited may perform well.
Zircar Refractories Limited IPO – Promoters
The Promoter of this company is:
- HIRALAL RAI AND KAMLA RAI
List of Related Parties (Key Managerial Personnel)
- Hiralal Rai
- Alok Rai
Interest in promotion of the Company
The Key Managerial Personnel of Company have interest in Company to the extent of the remuneration or benefits to which they are entitled to as per their terms of appointment and reimbursement of expenses incurred by them during the ordinary course of business and to the extent of Equity Shares held by them in Company.
Interest in Intellectual Rights of the Company
As on the date of filing of the Draft Red Herring Prospectus, the Company does not own any intellectual property rights.
Zircar Refractories IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Issue of Equity Shares by our Company | Upto 51,00,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●] per Equity Share aggregating Rs. [●] lakhs. |
| Of which: | |
| Market Maker Reservation Portion | Upto [●] Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. [●] per Equity Share aggregating Rs. [●] lakhs |
| Net Issue to the Public | Upto [●] Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. [●] per Equity Share aggregating Rs. [●] lakhs. |
| Of which: | |
| (A) Retail Portion | Upto [●] Equity Shares of face value of Rs. 10/- each fully paid up of the Company for cash at price of Rs. [●] per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors up to Rs. 2.00 lakhs |
| (B) Non – Institutional Portion | Upto [●] Equity Shares of face value of Rs. 10 each fully paid up of the Company for cash at price of Rs. [●] per Equity Share aggregating Rs. [●] lakhs will be available for allocation to investors above Rs. 2.00 lakhs. |
| Pre-and Post-Issue Equity Shares | |
| Equity Shares outstanding prior to the Issue | 1,07,92,300 Equity Shares of face value of Rs. 10/- each. |
| Equity Shares outstanding after the Issue | Upto [●] Equity Shares of face value of Rs. 10/- each. |
Zircar Refractories IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the working capital requirements of our Company; and
- General corporate purposes
Zircar Refractories IPO – Basis of the 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 Management
- Quality Assurance;
- Client Retention;
- Diversified Range of Products; and
- Widespread sales and distribution network.
The relevant quantitative factors are:
On the basis of standalone statement:-
| Basic & Diluted EPS | RONW | NAV (Rs.) | |
| 31-Mar-17 | 2.72 | 13.52% | – |
| 31-Mar-18 | 4.00 | 16.56% | – |
| 31-Mar-19 | 3.34 | 8.66% | 27.86 |
- Price to Earnings (P/E) ratio in relation to Issue Price Rs. [●] per Equity Share of Rs. 10 each fully paid up
| Particulars | P/E ratio |
| Highest | 29.52 |
| Average | 24.51 |
| Lowest | 27.32 |
- Competitive Peers:
| Companies | EPS | PE Ratio | RONW (%) | NAV (Per Share) | Face Value |
| Zircar Refractories Limited | 3.34 | [●] | 8.66% | 27.86 | 10.00 |
| Morganite Crucible (India) Ltd |
54.88 | 29.52 | 15.49% | 354.29 | 10.00 |
| Orient Refractories Ltd |
7.48 | 27.91 | 23.88% | 31.32 | 1.00 |
| IFGL Refractories Ltd |
7.20 | 24.51 | 5.13% | 140.41 | 10.00 |
Zircar Refractories IPO Lead Managers
| Lead Managers |
| PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED 406-408, Keshava Premises, Behind Family Court, Bandra Kurla Complex, Bandra East, Mumbai – 400 051, Maharashtra, India Tel: +91-22 6194 6700 Fax: +91-22 2659 8690 Website:www.pantomathgroup.com Email: ipo@pantomathgroup.com Investor Grievance Id: ipo@pantomathgroup.com Contact Person: Unmesh Zagade SEBI Registration No:INM000012110 |
Zircar Refractories IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083, Maharashtra , India Tel: +91 22 4918 6200 Fax: +91 22 4918 6195 Website: www.linkintime.co.in Email: zircar.ipo@linkintime.co.in Investor Grievance Id: zircar.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Zircar Refractories IPO Other Details:
- Statutory Auditor – M/s. Patel & Jesalpura, CA
- Peer Review Auditor – M/s. Patel & Jesalpura, CA
- Bankers to the Company –HDFC Bank Limited, IndusInd Bank Limited, State Bank of India, UCO Bank
Zircar Refractories IPO Grey Market Premium
The Zircar Refractories Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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