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:
| Particulars | For the year/period ended (₹ in Lakh) | |||
|---|---|---|---|---|
| 30-Sep-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 1,232.20 | 1,057.17 | 898.33 | 792.01 |
| Total Revenue | 1,447.64 | 2,572.48 | 2,099.59 | 1,855.95 |
| Profit After Tax | 80.74 | 75.35 | 39.93 | 20.59 |
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 Date | Mar 9, 2022 |
| IPO Closing Date | Mar 11, 2022 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹90 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | 547,200 Eq Shares of ₹10 (aggregating up to ₹4.92 Cr) |
| Fresh Issue | 297,600 Eq Shares of ₹10 (aggregating up to ₹2.68 Cr) |
| Offer for Sale | 249,600 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 Date | Mar 9, 2022 |
| IPO Close Date | Mar 11, 2022 |
| Basis of Allotment Date | Mar 16, 2022 |
| Initiation of Refunds | Mar 17, 2022 |
| Credit of Shares to Demat Account | Mar 21, 2022 |
| IPO Listing Date | Mar 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).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹144,000 |
| Maximum | 1 | 1600 | ₹144,000 |
SP Refactories IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 69.42% |
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
Website: http://www.sprefractories.com/
SP Refactories IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com