Refractory Shapes Stuns with 142% Surge On NSE SME Debut, shares Open at ₹75!

Refractory Shapes' shares skyrocketed on debut, opening at ₹75, a 142% premium over the issue price of ₹31, marking a blockbuster start on the NSE SME.
Refractory Shapes Stuns with 142% Surge On NSE SME Debut, shares Open at ₹75!

Refractory Shapes’ share price soared on its NSE SME debut, opening at ₹75, 142% above the initial issue price of ₹31. This dramatic increase marked a blockbuster start, significantly outperforming expectations with a nearly 142% premium on its first trading day.

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Refractory Shapes IPO, with a price range of ₹27 to ₹31 and a face value of ₹10 per share, closed on May 9 after opening on May 6. The IPO was massively oversubscribed by 255.08 times on the final day, with a lot size of 4,000 shares.

Since 1973, Refractory Shapes Limited has been a key supplier to the Steel and Refinery sectors, and a trusted vendor for EIL since 2007. The company produces durable, custom products for various industries, using modern equipment to ensure scalable manufacturing. It also trades items like Metallic Anchors and manages efficient delivery through strategic vendor relationships, boosting its operational flexibility and market presence.

Refractory Shapes Limited aims to use IPO funds for expanding its Gujarat facility, buying equipment, repaying debts, and acquiring a commercial vehicle, with additional resources allocated for general corporate purposes.

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