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SP Refractories IPO Details

IPO Open Mar 9, 2022
IPO Close Mar 11, 2022
IPO Price ₹90
Face Value ₹10
IPO Size ₹4.92 Cr
Listing At NSE SME
Lot Size 1600
Open an Instant Account with Zerodha
wpe1B5.jpg (1170 bytes) SP REFRACTORIES LIMITED
CIN: U51909MH2007PLC167114

Our Company was incorporated as SP Refractories Private Limited on January 18,2007 under the Companies Act, 1956 with the Registrar of Companies, Mumbai bearing Registration number 167114. The status of the Company was changed to public limited and the name of our Company was changed to SP Refractories Limited vide Special Resolution dated October 11, 2021. The fresh certificate of incorporation consequent to conversion was issued on October 28, 2021 by the Registrar of Companies, Mumbai. The Corporate Identification Number of our Company is U51909MH2007PLC167114. For further details pertaining to the change of name of our Company and the change in Registered Office, please refer the chapter "History and Certain Corporate Matters" on page no. 97 of this Prospectus.

Registered Office: M-10, M-11/1 & M-11/2, MIDC Industrial Area, Hingna Road, Nagpur- 440016.
Contact Person: Shreyaa Jajoo, Company Secretary and Compliance Officer.
Tel No.:07104-235388/99; Email: info@sprefractories.com; Website: www.sprefractories.com
Our Promoters: Namita Prabodh Kale, Shweta Prabodh Kale and Prajakta Prabodh Kale
BASIS OF ALLOTMENT

INITIAL PUBLIC OFFER OF 5,47,200 EQUITY SHARES OF tl 0 EACH ("EQUITY SHARES") OF SP REFRACTORIES LIMITED ("SPRL" OR THE "COMPANY") FOR CASH AT A PRICE OF Rs. 90 PER SHARE (THE "ISSUE PRICE"), AGGREGATING TO Rs. 492.48 LAKHS ("THE ISSUE"), CONSISTING OF FRESH ISSUE OF 2,97,600 EQUITY SHARES AGGREGATING TO Rs. 267.84 LAKHS AND AN OFFER FOR SALE OF 2,49,600 EQUITY SHARES COMPRISING OF 1,24,800 BY SHWETA PRABODH KALE AND 1,24,800 BY PRAJAKTA PRABODH KALE ("THE PROMOTERS SELLING SHAREHOLDER" OR "THE SELLING SHAREHOLDER") AGGREGATING TO Rs. 224.64 LAKHS ("OFFER FOR SALE"), OF WHICH 28,800 EQUITY SHARES OF T 10 EACH WILL BE RESERVED FOR SUBSCRIPTION BY AGGREGATING MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS THAN THE MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 5,18,400 EQUITY SHARES OF Rs.10 EACH IS HEREINAFTER REFERRED TO AS THE "NET ISSUE". THE ISSUE AND THE NET ISSUE WILL CONSTITUTE 30.58% AND 28.97% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF THE COMPANY.

THE FACE VALUE OF THE EQUITY SHARE IS RS. 10
AND THE ISSUE PRICE IS 9 TIMES OF THE FACE VALUE
ISSUE OPENED ON: MARCH 09, 2022 AND ISSUE CLOSED ON: MARCH 11, 2022

The Equity Shares of the Company are proposed to be listed on the Emerge Platform of NSE, in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received an In-Principle approval from NSE for the listing of the Equity Shares pursuant to letter dated February 01, 2022. NSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on March 22, 2022 (Subject to receipt of listing and trading approvals from the NSE).

The Equity Shares of the Company are proposed to be listed on the Emerge Platform of NSE, in terms of the Chapter IX of the SEBI (ICDR) Regulations, 2018 as amended from time to time. Our Company has received an In-Principle approval from NSE for the listing of the Equity Shares pursuant to letter dated February 01, 2022. NSE shall be the Designated Stock Exchange for the purpose of this Issue. The trading is proposed to be commenced on March 22, 2022 (Subject to receipt of listing and trading approvals from the NSE).

The Issue is being made through the Fixed Price process, the allocation in the Net Issue to the Public category shall be made pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, as amended from time to time, wherein a minimum of 50% of the Net Issue of shares to the Public shall initially be made available for allotment to Retail Individual Investors. The balance of Net Issue of Shares to the public shall be made available for allotment to Individual Applicants other than Retail Individual Investors and other Investors, including Corporate Bodies/ Institutions irrespective of number of shares applied for. If the Retail Individual Investor category is entitled to more than 50% on proportionate basis, they shall be allotted that higher percentage. Under subscription, if any, in any of the categories, would be allowed to be met with spill-over from any of the other categories or a combination of categories at the discretion of our Company in consultation with the Lead Manager and the Designation Stock Exchange. Such inter- se spill over, if any, would be affected in accordance with applicable laws, rules, regulations and guidelines. All potential investors shall participate in the Issue only through an Application Supported by Blocked Amount ("ASBff) process including through UPI mode (as applicable) by providing details of the irrespective bank accounts and / or UPI IDs, in case of Rlls, if applicable, which will be blocked by the Self Certified Syndicate Banks ("SCSBs'') forthe same

SUBSCRIPTION DETAILS

The Net Issue has received 1083 applications for 29,74,400 Equity Shares resulting in 5.44 times subscription. The details of the applications received in the Net Issue (before and aftertechnical rejections & withdrawal) are as follows:

Detail of the Applications Received

CATEGORY Before Technical Rejections & Withdrawals After Technical Rejections & Withdrawals
No. of Applications No. of Equity Shares No. of Applications No. of Equity Shares
Retail Individual Applicant 1025 16,40,000 1001 16,01,600
Otherthan Retail Individual Applicant 81 13,44,000 81 13,44,000
Total 1,106 29,84000 1082 29,48,600

Note: The Issue also includes 28,800 Equity Shares reserved for Market Maker, which was subscribed by 1.00 times and there were no Technical Rejection & any withdrawal.

In the event of oversubscription, the allotment will be made on a proportionate basis in marketable lots. There was over subscription of 1108800 Equity Shares in other than Retail Individual Category & over subscription 1318400 Equity Shares in Retail Category. The Basis of Allotment was finalised in consultation with the Designated Stock Exchange - NSE on March 16, 2022.

A) Allocation to Market Maker (After Technical Rejections & Withdrawals): The Basis of Allotment to the Market Maker, at the Issue Price of RS. 90 per Equity Share, was finalised in consultation with NSE. The category was subscribed by 1.000 times. The total number of shares allotted in this category is 28,800 Equity Shares. The category-wise details of the Basis of Allotment are as under:

No. of Shares Applied for (Category Wise) No. of Applications Received % to Total Total No. of Shares Applied in Each Category % to Total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
28,800 1 100.00 28,800 100.00 28,800 1:1 28,800
Total 1 100.00 28,800 100.00 28,800

B) Allocation to Retail Individual Investors (After Technical Rejections & Withdrawals): The Basis of Allotment to the Retail Individual Investors, at the Issue Price of Rs. 90 per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated in this category is 283200 Equity Shares. The category was subscribed by 5.65 times. The category-wise details of the Basis of Allotment are as under:

No. of Shares Applied for (Category Wise) No. of Applications Received % to Total Total No. of Shares Applied in Each Category % to Total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
1600 1001 100.00 16,01,600 100.00 1600 177 1001 2,83,200
Total 1,000 100.00 16,01,600 100.00 2,83,200

C) Allocation to Other than Retails Category (After Technical Rejections & Withdrawals): The Basis ot Allotmentto the Non - Retail Investors, at the Issue Price ot Rs. 90 per Equity Share, was finalised in consultation with NSE. Pursuant to Regulation 253(2) of the SEBI (ICDR) Regulations, 2018, the total number of shares allocated in this category is 2,35,200 Equity Shares. The category was subscribed by 5.71 times. The category-wise details of the Basis of Allotment are as under:

No. of Shares Applied for (Category Wise) No. of Applications Received % to Total Total No. of Shares applied in each Non Institutional Investors % to Total Allocation per Applicant Ratio of Allottees to the Applicant Total No. of Shares Allotted
3200 12 14.81 38400 2.85 1600 1 3 6400
4800 9 11.11 43200 3.21 1600 5 9 8000
6400 12 14.81 76800 5.71 1600 2 3 12800
8000 7 8.64 56000 4.16 1600 6 7 9600
9600 11 13.57 105600 7.85 1600 1 1 17600
9600 Lottery System-Serial Nos. of qualifying applicants is 6 1600 1 11 1600
11200 1 1.23 11200 0.83 1600 1 1 1600
12800 2 2.46 25600 1.9 1600 1 1 3200
12800 Lottery System-Serial Nos. of qualifying applicants is 2 1600 1 2 1600
16000 2 2.46 32000 2.38 3200 1 1 6400
17600 1 1.23 17600 1.3 3200 1 1 3200
19200 6 7.4 115200 8.57 3200 1 1 19200
19200 Lottery System-Serial Nos. of qualifying applicants is 5 1600 1 6 1600
24000 2 2.46 48000 3.57 3200 1 1 6400
24000 Lottery System-Serial Nos. of qualifying applicants is 1 1600 1 2 1600
25600 2 2.46 51200 3.8 4800 1 1 9600
28800 1 1.23 28800 2.14 4800 1 1 4800
32000 2 2.46 64000 4.76 4800 1 1 9600
32000 Lottery System-Serial Nos. of qualifying applicants is 2 1600 1 2 1600
35200 1 1.23 35200 2.61 6400 1 1 6400
38400 1 1.23 38400 2.85 6400 1 1 6400
40000 1 1.23 40000 2.97 6400 1 1 6400
49600 1 1.23 49600 3.69 8000 1 1 8000
54400 2 2.46 108800 8.09 9600 1 1 19200
56000 3 3.7 168000 12.5 9600 1 1 28800
80000 1 1.23 80000 5.95 14400 1 1 14400
110400 1 1.23 110400 8.21 19200 1 1 19200
TOTAL 81 100 13,44,000 100 23,5,200 2,35,200

The Board of Directors of the Company at its meeting held on March 16, 2022, has taken on record the Basis of Allotment of Equity Shares, as approved by the Designated Stock Exchange viz. NSE and has authorized the corporate action forthe allotment of the Equity Shares to various successful applicants.

The CAN and allotment advice and / or notices shall be dispatched to the address of the investors as registered with the depositories on or before March 17, 2022. Further, the instructions to Self Certified Syndicate Banks will be processed on or before March 17, 2022. for unblocking of funds. The Equity Shares allotted to successful applicants are being credited to their beneficiary accounts subjectto validation of the account details with the depositories concerned. In case the same is not received within prescribed time, investors may contactthe Registrar to the Issue at the address given below. The Company is taking steps to get the Equity Shares admitted fortrading on the Emerge Platform of NSE within 6 working days from the Closure of the Issue. The trading is proposed to be commenced on March 22, 2022 subject to receipt of listing and trading approvals from NSE.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated March 03, 2022 ("Prospectus").

INVESTORS PLEASE NOTE

The detail of the allotment made has been hosted on the website of the Registrarto the Issue, Bigshare Services Private Limited at Website: www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole Applicant, Serial number of the Application Form, Number of Shares Applied for and Bank Branch where the Application had been lodged and payment details at the address given below:

wpe1B6.jpg (1349 bytes) BIGSHARE SERVICES PRIVATE LIMITED
1" Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road. Marol, Andheri East, Mumbai - 400 059
Tel. No.: +91 22 6263 8200 Email:ipo@bigshareonline.com Website: www.bigshareonline.com
Investor Grievance Email: investor@bigshareonline.com Contact Person: Babu Rapheal SEBI Registration No.: INR000001385
For SP Refractories Limited
On Behalf of the Board of Directors
Place: Mumbai Sd/-
Date : March 19, 2022 Executive Director

LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF SP REFRACTORIES LIMITED

SP REFRACTORIES LIMITED is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make a Public Issue of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Mumbai. The Prospectus shall be available on the websites of the Company, the NSE and the Lead Manager at www.sprefractories.com, www.nseindia.com  and www.afsl.co.in respectively. Applicants should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the Prospectus, including, the section titled "Risk Factors" beginning on page no. 20 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the Equity Shares are being offered and sold (i) within the United States to persons reasonably believed to be qualified institutional investors (as defined in Rule 144A under the U.S. Securities Act) pursuant to Rule 144A under the U.S. Securities Act and (ii) outside the United States in offshore transactions in reliance on Regulation S underthe U.S. Securities Act and applicable laws of the jurisdictions where such offers and sales occur.



SP Refractories IPO Basis of Allotment FAQs

Check the basis of allotment document above to know about how the shares are allocated in SP Refractories IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).

The SP Refractories IPO basis of allotment (published above) tells you how shares are allocated to you in SP Refractories IPO and category wise demand of IPO share.

Visit the SP Refractories IPO allotment status page to check the number of shares allocated to your application.

Check the basis of allotment document above to know about how the shares are allocated in SP Refractories IPO. Note that there is a separate rule for allotment in each investor category (i.e. Retail, Non-Institutional, Institutional, Employee).