Refractory Shapes IPO

Refractory Shapes Limited was founded in 1996 and manufactures various types of Bricks, Castables, high alumina catalysts and Ceramic Balls. The company's product list includes pre-cast and pre-fired blocks (PCPF), Burner Blocks, specially shaped refractory bricks, dense and insulating castables, and mortars. The company also receives orders for metallic anchors, which are used as supports for the installation of refractory castings and for which raw materials such as tabular alumina, low alumina bricks and insulating bricks, etc. are required. The Company's manufacturing facilities are located at Pimpri Industrial Area, Pune, Maharashtra, with a total area of 34,788 sq. ft, and at Wankaner, Morbi district in Gujarat, with a total area of 1,74,246 sq. ft. The Company also has an additional 4 acres of land with an area of 1,74,240 sq. ft. near the existing unit at Wankaner, Gujarat to expand the production unit, to add an additional kiln and manufacture more various types of refractory bricks with pressing machines. On September 30, 2023, the company had 38 employees.

The company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: Funding of Capital expenditure towards civil construction required for Expanding and setting up a new manufacturing unit at the existing location situated at Wankaner, Gujarat; Funding of Capital expenditure towards the purchase of Plant and machinery for Expanding and setting up a new manufacturing unit at the existing location situated at Wankaner, Gujarat; Purchase of commercial vehicle; and General corporate purposes.

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