Refractory Shapes shares list at 142% premium on NSE SME platform
shares of Refractory Shapes debuted on the NSE SME platform with a premium of 142% on Tuesday. The stock was listed at Rs 75 as against an issue price of Rs 31.
Ahead of the debut, the company's shares traded with a premium of Rs 15 in the unlisted market.
The IPO, which was completely a fresh equity issue of 60 lakh shares, received robust response from investors with an overall subscription of over 200 times at close.
The net proceeds from the public offer will be used for funding of capital expenditure, repayment of debt, purchase of commercial vehicles and general corporate purposes.
The company engaged in the manufacturing of different types of bricks, castables, high alumina catalyst and ceramic balls which includes pre cast and pre fired blocks, burner blocks, special shaped refractory bricks, dense and insulating castables and mortars.
The tailored made products shaped by the company finds its application in a diverse range of industries, including steel, refineries, fertilizers, petrochemicals, glass, cement etc.
The company's refractories are engineered to endure the harsh conditions of these industries, contributing to enhanced operational efficiency and extended equipment life.
In addition to the manufacturing activities, Refractory Shapes is also involved in receiving orders from clients for items which are not a part of the company's operations in manufacturing.
These items include metallic anchors, which are used as support for installing refractory castables for which raw Materials such as
