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SP Refractories Limited IPO (SP Refractories IPO) Detail

March 9, 2022 - March 11, 2022

SP Refractories IPO is a fixed price issue of Rs 4.92 crores. The issue is a combination of fresh issue of 2.98 lakh shares aggregating to Rs 2.68 crores and offer for sale of 2.5 lakh shares aggregating to Rs 2.25 crores.

SP Refractories IPO bidding started from March 9, 2022 and ended on March 11, 2022. The allotment for SP Refractories IPO was finalized on Wednesday, March 16, 2022. The shares got listed on NSE SME on March 22, 2022.

SP Refractories IPO price is ₹90 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹144,000.

Aryaman Financial Services Limited is the book running lead manager of the SP Refractories IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

Refer to SP Refractories IPO RHP for detailed information.

SP Refractories IPO Details

IPO Date March 9, 2022 to March 11, 2022
Listing Date March 22, 2022
Face Value ₹10 per share
Price ₹90 per share
Lot Size 1600 Shares
Total Issue Size547,200 shares
(aggregating up to ₹4.92 Cr)
Fresh Issue297,600 shares
(aggregating up to ₹2.68 Cr)
Offer for Sale249,600 shares of ₹10
(aggregating up to ₹2.25 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Market Maker portion28,800 shares

SP Refractories IPO Reservation

SP Refractories IPO offers 547,200 shares. 259,200 (47.37%) to NII, 259,200 (47.37%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered28,800 (5.26%)
Other Shares Offered259,200 (47.37%)
Retail Shares Offered259,200 (47.37%)
Total Shares Offered547,200 (100%)

SP Refractories IPO Timeline (Tentative Schedule)

SP Refractories IPO opens on March 9, 2022, and closes on March 11, 2022.

IPO Open Date Wednesday, March 9, 2022
IPO Close Date Friday, March 11, 2022
Basis of Allotment Wednesday, March 16, 2022
Initiation of Refunds Thursday, March 17, 2022
Credit of Shares to Demat Monday, March 21, 2022
Listing Date Tuesday, March 22, 2022
Cut-off time for UPI mandate confirmation 5 PM on March 11, 2022

SP Refractories IPO Lot Size

Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 1600 ₹144,000
Retail (Max) 1 1600 ₹144,000
Lot Size Calculator

SP Refractories IPO Promoter Holding

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

Share Holding Pre Issue 100%
Share Holding Post Issue 69.42%

About SP Refractories Limited

SP Refractories Ltd manufactures and supplies refactory material made using hydrated lime, Calcined Alumina, and other raw materials. Refractory 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 refractory 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 Financials

Summary of financial Information (Restated Consolidated)
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

Key Performance Indicator

The market capitalization of SP Refractories IPO is Rs 16.11 Cr.

Pre IPO Post IPO
P/E (x) 9.94

Objects of the Issue (SP Refractories IPO Objectives)

The IPO aims to raise funds for the following purposes;

  • Fund working capital requirements.
  • General corporate purposes.

SP Refractories IPO Review (Avoid)

[Dilip Davda]  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. Read detail review...

SP Refractories IPO Subscription Status (Bidding Detail)

The SP Refractories IPO is subscribed 7.24 times on March 11, 2022 5:00:00 PM. The public issue subscribed 8.85 times in the retail category, times in the QIB category, and 5.64 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)

SP Refractories IPO Prospectus

SP Refractories IPO Rating

Rating:Rated 3.7 stars
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SP Refractories IPO Listing Details

Listing Date March 22, 2022
BSE Script Code
Final Issue Price ₹90 per share

Pre-Open Session - NSE

Listing Day Trading Information

Price Details
Final Issue Price
Last Trade

Check IPO Performance…

SP Refractories Limited Contact Details

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

Phone: 07104-235388/99

SP Refractories IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

SP Refractories IPO - Buy or Not

SP Refractories IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 0 0 1
Members 0 0 0

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SP Refractories IPO FAQs

SP Refractories IPO is a SME IPO of 547,200 equity shares of the face value of ₹10 aggregating up to ₹4.92 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 1600 Shares.

The IPO opens on March 9, 2022, and closes on March 11, 2022.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Zerodha customers can apply online in SP Refractories IPO using UPI as a payment gateway. Zerodha customers can apply in SP Refractories IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in SP Refractories IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'SP Refractories IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The SP Refractories IPO opens on March 9, 2022 and closes on March 11, 2022.

SP Refractories IPO lot size is 1600 Shares, and the minimum amount required is ₹144,000.

You can apply in SP Refractories IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for SP Refractories IPO will be done on Wednesday, March 16, 2022, and the allotted shares will be credited to your demat account by Monday, March 21, 2022. Check the SP Refractories IPO allotment status.

The SP Refractories IPO listing date is on March 22, 2022.
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SP Refractories IPO Message Board

Ranked Members of Forum  Ranked Members | Members with Most Likes



75. PramodNaik |   Link |  Bookmark |March 22, 2022 10:38:53 PM
Hello Ravi Sir..Are you still holding Sir..Whats next from here..any targets ß stop loss..please suggest..
74. c.dinesh |   Link |  Bookmark |March 22, 2022 2:10:48 PM (200+ Posts)
Sold my 3 lots @ 89.75
73. ALOK Ag |   Link |  Bookmark |March 22, 2022 10:21:29 AM
Exited at 89.95
72. K.Atar |   Link |  Bookmark |March 22, 2022 9:25:55 AM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
buying looks good, post listing 2-3 UC can be expected. fingers crossed 🤞
72.1. K.Atar |   Link |  Bookmark |March 22, 2022 10:10:34 AM
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Buyers vanished., was it a sham.
71. Trueinfo |   Link |  Bookmark |March 22, 2022 9:55:22 AM
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
Listed 90.20. Buyers more than sellers. May go up.
70. IPOANALYSIS |   Link |  Bookmark |March 22, 2022 9:54:29 AM
My listing price was bang on with flat listing. Dinesh ,where r u waiting for your feedback?
69. KKYYUUO |   Link |  Bookmark |March 22, 2022 9:51:04 AM
Flat listing :(
68. Amit Jaipur |   Link |  Bookmark |March 22, 2022 9:46:22 AM
IPO Guru IPO Guru (1400+ Posts, 1400+ Likes)
Sold 1lot @ 90.20
67. c.dinesh |   Link |  Bookmark |March 22, 2022 8:51:27 AM (200+ Posts)
My Stocks were not yet available in my Holdings in Prostocks , What's the name of this script .
67.2. NKJ |   Link |  Bookmark |March 22, 2022 9:26:41 AM

in Zerodha name is "SPRL-ST"
67.3. snipperRaj |   Link |  Bookmark |March 22, 2022 9:33:51 AM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
66. KKYYUUO |   Link |  Bookmark |March 22, 2022 8:48:04 AM
Any link to view live status
66.1. NKJ |   Link |  Bookmark |March 22, 2022 9:31:57 AM
65. krupa |   Link |  Bookmark |March 22, 2022 9:20:56 AM (800+ Posts, 500+ Likes)
Zerodha me symbol kya he?
64. lokes |   Link |  Bookmark |March 22, 2022 12:00:45 AM
IPO Guru IPO Guru (4400+ Posts, 5100+ Likes)
In my opinion it may list around 94-100....good luck for all allottees....
63. Trueinfo |   Link |  Bookmark |March 21, 2022 11:41:05 AM
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
Will this stock surprise on listing? Financials and growth are looking very impressive. Is it heading for bumper listing and smart gains post listing? Any guess?
63.3. SHAREKHAN BROKER |   Link |  Bookmark |March 21, 2022 3:31:24 PM
63.4. Ravu |   Link |  Bookmark |March 21, 2022 6:29:11 PM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
62. Traderjee |   Link |  Bookmark |March 21, 2022 11:23:30 AM
what is the script code?
62.1. Ravu |   Link |  Bookmark |March 21, 2022 6:27:01 PM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
61. IPO Mitr |   Link |  Bookmark |March 19, 2022 3:29:03 PM

Thanks for sharing your views. Please do not hesitate in sharing your views whatever those are. I also do not have any personal grudge or hate against DJML or any other stock. My point is very simple and straightforward

- This is a public social media forum and open to everyone equally for sharing their opinion and benefits from each others opinion.

- Members are absolutely free to absorb the shared information anyway they wish or completely ignore it and cannot blame others for their financial loss. It is their own shortcoming that they cannot understand or utilize the available information (even with some noise) for their benefit optimally and at the right moment.

- No smaller group of people irrespective how influential or rich they are can BULLY others to safeguard their own personal interest. on a public forum.

- In my view SME stocks are susceptible to unjustified SPECULATION due to lower liquidity of stocks and small no of people with access to large amount of cash can very easily manipulate stock price to serve their own interest but fundamentals of the company and business do impact the stock performance in the longer run. So for flippers at listing, any junk stock can be justified as long as it gives listing gain (PURE SPECULATION) but longer term trust should not be given to any stock which is evenly remotely tainted or un-ethical anyway what so ever.

- If it is ok to say that X stock will rise from issue price of 100 to 500 (most of the time without giving any reason and saying it is his/her personal onion) then it is perfectly ok to say that a stock X will reach 50-70 levels even without any reason. BTW in the case of DJML reasons for fall were solid even Dilip Davda later on mentioned similar reasons in some other SME IPO.

- People should share their views openly and let others share openly. They can use or ignore others views completely at their own will and there cannot be absolutely no reason whatsoever for MOCKING or BULLYING anyone for their views whatsoever they are.

- It should be left to individual members to decide which view is authentic/genuine and which are purely speculative and utilize those for their own benefit as they deem fit.

It is just my opinion with no intention to hurt anyone or argue anyone for their views.
60. IPO Mitr |   Link |  Bookmark |March 19, 2022 11:19:12 AM
I know Genuine Knowledgeable Investors (not pure speculators) in SME stocks who have exited DJML at higher level and re-entered at much lower levels for short term speculations.

My intention was not to predict levels because in SME nothing is predictable. People who are saying that X stock will reach 500 with issue price of 100 without any basis other than speculation are just SPECULATORS and that is fine with me and I will never mock them. I dont say on hearsay that X stock will go to Y level and while falling it will stop at P level and then at Q Level and then at R level. In my view, Y,P, Q, R do not have any real meaning as these nos are purely speculative numbers without any fundamental basis.

I researched a stock and shared my research with everyone. I share my view on short term trend and it turned true and it rattled so called the Gods of Social Media that they cant just stop mocking others. Whether someone mocks it as Genius or not doesn't matter me at all. I researched something and thought it will be useful for others so I shared. And irrespective of how much these INSECURE persons on social media mock others, I will still be doing the same....sharing my opinion with everyone openly whenever I feel it can be of some use to others.
60.1. Spock 🖖 |   Link |  Bookmark |March 19, 2022 12:31:21 PM
@IPO Mitr, I don't know what about DJML, did not pay attention to this FPO,
but in general, in an IPO or FPO if the investor is not able to make a profit in listing then that particular issue is a failure in terms of listing.
if any issue gives at least 10%+ listing profit then there is real meaning to apply in IPO.
For long-term view also we do apply in IPO but after listing if we are holding that particular stock like any other secondary market stock on our own risk and later this stock perform well then we can't call this a successful IPO if it did not give any listing gain.
Market and stocks work on sentiments (and sentiment always keep changing over time), so if people's targets can go wrong, no one is an expert here, if anyone feels he is an expert then he or she should not even bother about what other post about any particular script.
Above is my view about listing and all must have different views, this is a forum about sharing $ respecting each other's views & not pulling the legs off each other.
59. PramodNaik |   Link |  Bookmark |March 19, 2022 10:30:48 AM
Thanks MRavichandran the listing date on Monday
59.1. MRavichandran |   Link |  Bookmark |March 19, 2022 10:59:44 AM
IPO Guru IPO Guru (2000+ Posts, 2700+ Likes)
Listing is Tuesday as per earlier announcement. Monday listing is possible also as shares are already credited to Demat account.

58. MRavichandran |   Link |  Bookmark |March 18, 2022 11:22:29 PM
IPO Guru IPO Guru (2000+ Posts, 2700+ Likes)
off the topic, I remember your quote now in DJML.

I just wanted to finish with a saying in Tamil, "kutram ulla nenju kurukurukum".

and I recall also DJML forum's 'Genius' prediction (''If price doesn't hold 120 levels then it can very well fall to 50-70 levels''), it was a genuine and helped me and others a lot.

58.1. PramodNaik |   Link |  Bookmark |March 19, 2022 10:41:02 AM
What is the listing date Sir
57. IPOANALYSIS |   Link |  Bookmark |March 17, 2022 2:48:54 PM
Flat listing expected. Nothing great and almost most HNI application got allotment
57.8. IPOANALYSIS |   Link |  Bookmark |March 22, 2022 9:48:06 AM
Dinesh hope u got best reply in listing day.
57.9. lokes |   Link |  Bookmark |March 23, 2022 7:29:15 PM
IPO Guru IPO Guru (4400+ Posts, 5100+ Likes)
ekennis is still performing good and trading around 110 (after initial upper and then lower circuits) much above listing price of 80. So every stock is different. if one performed the way we thought, doesn't matter all will perform same way.
56. IPO Mitr |   Link |  Bookmark |March 19, 2022 10:16:26 AM
English Lesson:

"If price doesn't hold 120 levels then it can very well fall to 50-70 levels'')"

"Very well" here means ......there is a high probability of reaching 50-70 levels.....not a GUARANTEE on exact 50-70 range. And stock, did touched 91 level. Oh god what a crime I didn't touch 50-70 range. I will definitely ask for penance from GOD for saying anything negative about this stock on Chittorgarh forum.

If this gentlemen says that X stock will reach 500 (without any reasoning in his personal view) and it reaches 450 only then following his own yardstick shouldn't he go to TIRUPATI and donate all his earnings from SME stocks to charity.

What is most amazing how a harmless general message and not even remotely directed towards anyone, can rattle someone with probably thousands of crores networth that he scrambles to safeguard his PERSONAL INTEREST by blatantly starting to mock other opinions again and again using its partners additionally using a language which is only understood by him and his gang of partner.

Remember that anyone with access to large amount of money can manipulate price of stocks with lower liquidity. Most of these SME stocks are rising only because liquidity is controlled by very less no of people. As I am doing.....Enjoy the benefits of this situation but ensure that you are not caught in a situation which badly impacts you, when the tide turns.

BTW, I didn't use TAMIL or LATIN to form a coterie on the public social media forum.