Amkay Products IPO vs Refractory Shapes IPO

Comparision between Amkay Products IPO and Refractory Shapes IPO.

IPO Details

Amkay Products IPO is a SME Book Built Issue IPO proposed to list at BSE SME while Refractory Shapes IPO is a SME Book Built Issue proposed to list at NSE SME.

	Amkay Products IPO	Refractory Shapes IPO
Logo		$Refractory Shapes IPO Logo$
Issue Category	SME	SME
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE SME	NSE SME
Lead Managers	Hem Securities Limited	Shreni Shares Limited
Registrar	Bigshare Services Pvt Ltd	Bigshare Services Pvt Ltd
Market Maker	Hem Finlease Private Limited	Shreni Shares Limited
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Amkay Products IPO is up to ₹12.61 Cr whereas the issue size of the Refractory Shapes IPO is up to ₹18.60 Cr. The final issue price of Amkay Products IPO is ₹55.00 per share and of Refractory Shapes IPO is ₹31.00 per share.

	Amkay Products IPO	Refractory Shapes IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹52.00 per share	₹27.00 per share
Issue Price (Upper)	₹55.00 per share	₹31.00 per share
Issue Price (Final)	₹55.00 per share	₹31.00 per share
Discount (Retail)
Discount (Employee)
Market Lot Size	2000 shares	4000 shares
Fresh Issue Size	22,92,000 shares	60,00,000 shares
Fresh Issue Size (Amount)	up to ₹12.61 Cr	up to ₹18.60 Cr
OFS Issue Size
OFS Issue Size (Amount)
Issue Size Total	22,92,000 shares	60,00,000 shares
Issue Size Total (Amount)	up to ₹12.61 Cr	up to ₹18.60 Cr

IPO Timetable

Amkay Products IPO opens on Apr 30, 2024, while Refractory Shapes IPO opens on May 06, 2024. The closing date of Amkay Products IPO and Refractory Shapes IPO is May 03, 2024, and May 09, 2024, respectively.

	Amkay Products IPO	Refractory Shapes IPO
Anchor Bid Date	Apr 29, 2024	May 03, 2024
Issue Open	Apr 30, 2024	May 06, 2024
Issue Close	May 03, 2024	May 09, 2024
Basis Of Allotment (Tentative)	May 06, 2024	May 10, 2024
Initiation of Refunds (Tentative)	May 07, 2024	May 13, 2024
Credit of Share (Tentative)	May 07, 2024	May 13, 2024
Listing date (Tentative)	May 08, 2024	May 14, 2024
Anchor Lockin End date 1	Jun 05, 2024	Jun 09, 2024
Anchor Lockin End date 2	Aug 04, 2024	Aug 08, 2024

Financials

Amkay Products IPO P/E ratio is 23.18, as compared to Refractory Shapes IPO P/E ratio of 25.55.

Amkay Products IPO

Refractory Shapes IPO

Financial

Amkay Products Limited Financial Information (Restated)

Amkay Products Limited's revenue decreased by -23.22% and profit after tax (PAT) rose by 2.94% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	1,887.52	1,563.77	1,580.64	1,393.47
Revenue	2,385.56	2,825.05	3,679.45	4,071.74
Profit After Tax	215.34	151.02	146.71	312.68
Net Worth	986.96	771.62	620.60	473.90
Reserves and Surplus	350.59	743.95	592.93	446.23
Total Borrowing	476.22	469.98	433.59	136.54
Amount in ₹ Lakhs

Refractory Shapes Limited Financial Information (Restated)

Refractory Shapes Limited's revenue increased by 47.7% and profit after tax (PAT) dropped by -33.2% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended	31 Dec 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	5,289.90	5,003.81	3,684.82	2,723.72
Revenue	2,999.04	3,872.23	2,621.67	2,179.67
Profit After Tax	307.94	191.74	287.04	156.39
Net Worth	396.58	1,668.64	1,476.90	1,189.86
Reserves and Surplus	396.58	1,658.64	1,466.90	1,179.86
Total Borrowing	2,341.80	2,048.63	1,570.12	1,234.18
Amount in ₹ Lakhs

Promoter Shareholding (Pre-Issue)

99.89%

100.00%

Promoter Shareholding (Post-Issue)

73.44%

72.48%

P/E Ratio

23.18

25.55

Market Cap

₹47.61 Cr.

₹67.58 Cr.

ROE

24.49%%

15.58%%

ROCE

21.54%%

9.79%%

Debt/Equity

0.48

1.18

EPS

₹2.37

₹1.21

RoNW

21.82%%

15.58%%

Shares Offered

In the Amkay Products IPO retail investors (RII) are offered 7,62,000 shares while in Refractory Shapes IPO retail investors are offered 7,62,000 shares. Qualified institutional buyers (QIB) are offered 4,34,000 shares in Amkay Products IPO and 11,44,000 shares in Refractory Shapes IPO.

	Amkay Products IPO	Refractory Shapes IPO
Anchor Investor Reserveration	6,50,000 shares	17,00,000 shares
Market Maker Reserveration	1,20,000 shares	3,04,000 shares
QIB	4,34,000 shares	11,44,000 shares
NII	3,26,000 shares	8,56,000 shares
RII	7,62,000 shares	19,96,000 shares
Employee	0 shares	0 shares
Others
Total	15,22,000 shares	39,96,000 shares

Bids Received (Subscription)

Amkay Products IPO subscribed 748.03x in total, whereas Refractory Shapes IPO subscribed 255.08x.

	Amkay Products IPO	Refractory Shapes IPO
QIB (times)	173.04x	90.59x
NII (times)	987.34x	464.43x
Big NII (times)
Small NII (times)
RII (times)	973.14x	259.56x
Employee (times)
Other (times)
Total (times)	748.03x	255.08x

Compare with others

Amkay Products IPO	Refractory Shapes IPO
TGIF Agribusiness IPO	Aztec Fluids & Machinery IPO
Refractory Shapes IPO	Premier Roadlines IPO
Winsol Engineers IPO	Silkflex Polymers IPO
Slone Infosystems IPO	Energy Mission Machineries IPO
Sai Swami Metals and Alloys IPO	TGIF Agribusiness IPO
Storage Technologies Racks and Rollers IPO	Winsol Engineers IPO
Mandeep Auto Industries IPO	Slone Infosystems IPO
ABS Marine Services IPO	Sai Swami Metals and Alloys IPO
Shivam Chemicals IPO	Amkay Products IPO
Varyaa Creations IPO	Storage Technologies Racks and Rollers IPO

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