SP Refactories Limited IPO (SP Refactories IPO) Detail

SP Refactories Ltd manufactures and supplies refactory material made using hydrated lime, Calcined Alumina, and other raw materials. Refactory cement is its core focus that is widely used in steel & construction industries because of high thermal conductivity, maximum strength, and heat resistance. The company purchases clinkers from outsiders and thereafter crushes, blend, and pack refactory cement in powder form in its manufacturing facility.

Its manufacturing facility are situated in Hingna, Nagpur. The business has a total clinkers manufacturing capacity of 4000 MT per year and clinkers crushing capacity of 6000 MT per year.

Competitive strengths

  • Experienced promoters and management team with successful track record.
  • Long standing relationship with customers and suppliers.
  • Strong balance sheet and financial track record.
  • Strategically located manufacturing facility in Nagpur.

Company Promoters:

Namita Prabodh Kale, Shweta Prabodh Kale, and Prajakta Prabodh Kale are the company promoters.

Company Financials:

ParticularsFor the year/period ended (₹ in Lakh)
Total Assets1,232.201,057.17898.33792.01
Total Revenue1,447.642,572.482,099.591,855.95
Profit After Tax80.7475.3539.9320.59

Objects of the Issue:

The IPO aims to raise funds for the following purposes;

  • Fund working capital requirements.
  • General corporate purposes.

SP Refactories IPO Details

IPO Opening DateMar 9, 2022
IPO Closing DateMar 11, 2022
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price₹90 per equity share
Market Lot1600 Shares
Min Order Quantity1600 Shares
Listing AtNSE SME
Issue Size547,200 Eq Shares of ₹10
(aggregating up to ₹4.92 Cr)
Fresh Issue297,600 Eq Shares of ₹10
(aggregating up to ₹2.68 Cr)
Offer for Sale249,600 Eq Shares of ₹10
(aggregating up to ₹2.25 Cr)

SP Refactories IPO Tentative Timetable

The SP Refactories IPO open date is Mar 9, 2022, and the close date is Mar 11, 2022. The issue may list on Mar 22, 2022.

IPO Open DateMar 9, 2022
IPO Close DateMar 11, 2022
Basis of Allotment DateMar 16, 2022
Initiation of RefundsMar 17, 2022
Credit of Shares to Demat AccountMar 21, 2022
IPO Listing DateMar 22, 2022

SP Refactories IPO Lot Size

The SP Refactories IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹144,000).

ApplicationLotsSharesAmount (Cut-off)

SP Refactories IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding69.42%

3rd Party IPO Application

SBI Bank, Axis Bank, Bank of Baroda (BoB), RBL Bank and IndusInd Bank.

SP Refactories IPO Review

The company is operating in a highly competitive and fragmented segment. The sustainability of super earnings for H1-FY22 raises concern as the price is based on this performance for the IPO year. Tiny paid-up equity post-IPO also indicates longer gestation for migration to the mainboard. Considering all these, there is no harm in ignoring this IPO.

Company Contact Information

SP Refactories Limited
M-10, M-11/1 & M-11/2, MIDC Industrial Area,
Hingna Road, Nagpur – 440016

Phone: 07104-235388/99
Email: info@sprefractories.com

SP Refactories IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com

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