Refractory Shapes share price makes a blockbuster debut, stock opens with 142% premium at ₹75 apiece on NSE SME

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₹75, which is 141.9% higher than the issue price of ₹31. The subscription period for the Refractory Shapes IPO began on Monday, May 6, and ended on Thursday, May 9. The price band was set between ₹27 and ₹31 per equity share with a face value of ₹10 apiece.

The lot size for the Refractory Shapes IPO was 4,000 shares. Following the minimum of 4,000 equity shares, bids could be made for multiples of 4,000 equity shares. Refractory Shapes IPO subscription status was 255.08 times on day 4, as per chittorgarh.com.

Also Read: Winsol Engineers makes a bumper stock market debut; shares list with 386% premium at ₹365 apiece on NSE SME According to the Red Herring Prospectus (RHP), the company's main business is to manufacture various types of bricks, castables, ceramic balls, high alumina catalysts, and precast and prefired blocks. Burner blocks, specially designed refractory bricks, dense and insulating castables, and mortars are all examples. Custom-made items are employed in a variety of sectors, including cement, steel, glass, petrochemicals, fertilisers, and refineries.

The firm's refractories are engineered to endure the harsh conditions seen in these sectors, extending equipment life and increasing operational efficiency. Refractory Shapes IPO, which is worth about ₹18.60 crore, consists of a fresh issue of 6,000,000 equity shares with a face value of ₹10. There is no offer-for-sale component.