Zircar Refractories IPO Dates, Bid, Size, Allotment, Subscription, GMP, Listing, Price

Let’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. 

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Zircar Refractories Limited IPO Review & Ratings

Zircar IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.1/10
Company Background7.3/10
Company Reputation7.2/10
Competitive Edge7.7/10
Financial Statements7.1/10
Popularity Index7.4/10
Promoters Reputation7.7/10
Retail Appetite7.1/10
Top Brokers Review7.9/10
Overall Ratings7.4/10
Star Ratings★★★★☆

Summary of Zircar Refractories Limited IPO

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 / DateQIBNIIRIITotal 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-1931-Mar-1831-Mar-17
    Total Assets7,080.405,697.414,462.16
    Total Revenue5,883.754,602.214,207.95
    Total Expense5,508.344,261.523,934.85
    Profit After Tax260.28271.52184.97

    Earnings per Equity Share (in lakhs)

    31-Mar-1931-Mar-1831-Mar-17
    Basic & Diluted3.344.002.72

    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 CompanyUpto 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 PortionUpto [●] 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 PublicUpto [●] 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 PortionUpto [●] 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 PortionUpto [●] 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 Issue1,07,92,300 Equity Shares of face value of Rs. 10/- each.
    Equity Shares outstanding after the IssueUpto [●] 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 EPSRONW NAV (Rs.)
    31-Mar-172.7213.52%
    31-Mar-184.0016.56%
    31-Mar-193.348.66%27.86
    • Price to Earnings (P/E) ratio in relation to Issue Price Rs. [●] per Equity Share of Rs. 10 each fully paid up
    ParticularsP/E ratio
    Highest29.52
    Average24.51
    Lowest27.32
    • Competitive Peers: 
    CompaniesEPSPE RatioRONW (%)NAV (Per Share)Face Value
    Zircar Refractories Limited3.34[●]8.66%27.8610.00
    Morganite Crucible
    (India) Ltd
    54.8829.5215.49%354.2910.00
    Orient Refractories
    Ltd
    7.4827.9123.88%31.321.00
    IFGL Refractories
    Ltd
    7.2024.515.13%140.4110.00

    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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      Zircar Refractories Limited IPO News

      News 1 – Download DRHP Prospectus


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