Last updated on December 2nd, 2025 at 12:52 am
| Check Jajoo Rashmi filing with SEBI. | Check Jajoo Rashmi IPO allotment |
Jajoo Rashmi Refractories Pvt. Ltd. is manufacturer & supplier of high-quality refractories used across steel, cement, and industrial furnace applications. It has long-standing expertise and focusses on durable, high-performance refractory solutions, it has plans for expansion and is positioning itself in market by acquiring a ferro plant in Bokaro with use of its IPO proceeds.
Jajoo Rashmi Refractories is raising money via IPO for the amount of ~ ₹ 150 Crore which completely being as Fresh Issue.
Subscription date to apply for Jajoo Rashmi Refractories Limited starts and closes on TBA. Price band for the IPO is TBA.
Revenue, PAT, EBITDA of Jajoo Rashmi Refractories Limited
| Year | Fiscal 2024 |
| Networth | ~ ₹ 77.26 Cr |
| Revenue: | ~ ₹ 334.03 Cr |
| EBITDA | ~ ₹ 32.77 Cr |
| PAT | ~ ₹ 24.28 Cr |
| EBITDA Margin: | ~9.81% |
| PAT Margin | ~7.27% |
Jajoo Rashmi Refractories Limited Financials (Consolidated Figures)
| Year (Approx Values) | Revenue (₹ Cr) | Profit (₹ Cr) | Assets (₹ Cr) | Net Worth (₹ Cr) |
| 2022 | ₹ 233.4 | ₹ 8.8 | ₹ 65.2 | ₹ 26.8 |
| 2023 | ₹ 306.8 | ₹ 22.9 | ₹ 86.6 | ₹ 49.7 |
| 2024 | ₹ 334.0 | ₹ 24.3 | ₹ 129.9 | ₹ 77.3 |
Jajoo Rashmi Refractories Limited IPO Grey market premium today
| Date | IPO Price | IPO GMP | GMP Trend | Estimated listing | Estimated profit per lot |
| 03-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 02-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 01-Dec | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 30-Nov | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
| 29-Nov | ₹ TBA | ₹ NA | – | ₹ – | ₹ – |
Jajoo Rashmi Refractories Limited IPO Pros & Cons
Strengths:
- Strong export-driven business with over 90% revenue from international markets, indicating global demand and diversified customer base.
- Established manufacturing infrastructure across multiple states, providing scale and logistical advantage.
- Promoter-driven company with nearly three decades of industry experience.
- Growing presence in refractory and ferro-alloy segments, both essential for steel and industrial sectors.
- IPO proceeds aimed at capacity expansion and working capital, supporting future growth.
Risks:
- Heavy dependence on exports makes revenue vulnerable to global market fluctuations.
- Concentrated industry exposure, mainly tied to steel and furnace sectors.
- Limited public financial track record compared to larger listed peers.
- Price band and valuation not announced, creating uncertainty for investors.
- Competition from larger domestic and international refractory manufacturers may pressure margins.
Jajoo Rashmi Refractories Limited: IPO date & invest detail
| IPO Open Date: | Dec’25 |
| IPO Close Date: | TBA |
| Anchor Investor Bidding | TBA |
| IPO Allotment Date: | TBA |
| Refunds & Demat Credit | TBA |
| Tentative Listing Date: | TBA |
| IPO Category | Mainboard |
| Symbol | |
| Face Value: | Rs. 10 per Equity Share |
| Issue Size: | ~ ₹ 150 Crore |
| Lot Size: | TBA |
Jajoo Rashmi Refractories Limited IPO Composition & Proceeds
| Fresh Issue: | ~ ₹ 150 Crore |
| Offer for Sale: | – |
| Employee reservation | – |
| Price Range | TBA |
| Use of Proceeds: | |
| Part-finance proposed Bokaro ferro-alloy plant | ~ ₹ 61.83 Cr |
| Working Capital Requirement | ~ ₹ 47.67 Cr |
| General Corporate Purpose | Balance |
| Technology & Infrastructure | – |
| IPO Listing on: | BSE – NSE |
| Retail Quota: | ≥ 35% |
| QIB Quota: | ≤ 50% |
| NII Quota: | ≥ 15% |
Jajoo Rashmi Refractories Limited Lot Size details
| Application Type | Lot Size | No. of Lots | No. of Shares | Investment Amount |
| Retail(Min) | – | 1 | – | ₹ – |
| Retail (Max) | – | 13 | – | ₹ – |
| Small HNI (Min) | – | 14 | – | ₹ – |
| Small HNI (Max) | – | 66 | – | ₹ – |
| Big HNI (Min) | – | 67 | – | ₹ – |
Core Offerings of Jajoo Rashmi Refractories Limited
Jajoo Rashmi Refractories Limited offers a comprehensive range of ferro alloys including ferro silicon, ferro manganese, and silico manganese, which enhance steel properties like strength, hardness, and corrosion resistance. It also produces refractory products such as silica ramming mass, casting powders, and quartz powder, while importing complementary materials like high-carbon ferrochrome and calcined petroleum coke for integrated solutions.
No. of Stores/Jajoo Rashmi Refractories Limited ‘s customer reach/market share
The company maintains three manufacturing facilities: two in Jaipur and Kalyaneshwari (Rajasthan) for ferro alloys and refractories, and one in Kandla SEZ (Gujarat) focused on exports. Their installed production capacity (across these units) is ~78,000 MTPA.
Jajoo Rashmi Refractories Limited Promoters – Pre offer equity (Approx)
| Sunil Jaju | ~73.36% |
| Himalaya Commodeal Private Limited | ~16.61% |
| Saurabh Jaju | ~2.62% |
| Sunil Jaju Karta HUF | ~0.99% |
Lead Managers / Registrars of Jajoo Rashmi Refractories Limited
| Lead / Book Running Lead Managers | Unistone Capital Private Ltd |
| Registrar (RTA) | Bigshare Services Pvt Ltd |
Founding Year of Jajoo Rashmi Refractories Limited & Managing Director
The company was incorporated in April, 1995
Mr. Sunil Jaju is the Chairman & Managing Director.
Jajoo Rashmi Refractories Limited FAQ
Q1. What is the business of Jajoo Rashmi Refractories Limited?
Jajoo Rashmi Refractories manufactures refractory products like ferro alloys, quartz materials, and ramming mass which is used in steel and industrial furnaces.
Q2. Why is the company raising funds via IPO?
The IPO proceeds will be used for capacity expansion, establishing a new ferro-alloy plant, meeting working capital needs, and supporting overall business growth, which will strengthen its manufacturing capabilities and export operations.
Q3. What is the size of the issue and where will it list?
The IPO is a fresh issue worth ₹150 Cr. It will be listed on BSE and NSE
Q4. What are the risks to an investor?
Major risks include company being heavily dependent on exports, cyclic nature of industry, global demand fluctuations, competition from larger refractory players, and uncertainties around pricing, raw material costs, and final IPO valuation.
Q5. What are the potential upsides?
It has strong export, diversified refractory and ferro-alloy products, manufacturing plants at various location, expansion plans funded by the IPO may support higher growth, global market penetration, and improved operational scale.
Q6. How to apply for the IPO?
Investors can apply through any broker app (Zerodha, Upstox, Groww, Angel One), using ASBA via net banking or UPI. Select the IPO, enter lot quantity, approve UPI mandate, and submit.
Q 7. When is the tentative listing date?
The listing date is not yet announced, as the final IPO schedule, including subscription dates and price band, will be confirmed after SEBI approval of the RHP.
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For further information you can visit official website of Jajoo Refractories