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Associated Coaters IPO is a fixed price issue of Rs 5.11 crores. The issue is entirely a fresh issue of 4.22 lakh shares.
Associated Coaters IPO bidding started from May 30, 2024 and ended on June 3, 2024. The allotment for Associated Coaters IPO was finalized on Tuesday, June 4, 2024. The shares got listed on BSE SME on June 6, 2024.
Associated Coaters IPO price is ₹121 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹121,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹242,000.
Gretex Corporate Services Limited is the book running lead manager of the Associated Coaters IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Associated Coaters IPO is Gretex Share Broking.
Refer to Associated Coaters IPO RHP for detailed information.
| IPO Date | May 30, 2024 to June 3, 2024 |
| Listing Date | June 6, 2024 |
| Face Value | ₹10 per share |
| Price | ₹121 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 422,000 shares (aggregating up to ₹5.11 Cr) |
| Fresh Issue | 422,000 shares (aggregating up to ₹5.11 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 930,000 |
| Share holding post issue | 1,352,000 |
| Market Maker portion | 66,000 shares Gretex Share Broking |
Associated Coaters IPO offers 422,000 shares. 178,000 (42.18%) to NII, 178,000 (42.18%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 66,000 (15.64%) |
| Other Shares Offered | 178,000 (42.18%) |
| Retail Shares Offered | 178,000 (42.18%) |
| Total Shares Offered | 422,000 (100%) |
Associated Coaters IPO opens on May 30, 2024, and closes on June 3, 2024.
| IPO Open Date | Thursday, May 30, 2024 |
| IPO Close Date | Monday, June 3, 2024 |
| Basis of Allotment | Tuesday, June 4, 2024 |
| Initiation of Refunds | Wednesday, June 5, 2024 |
| Credit of Shares to Demat | Wednesday, June 5, 2024 |
| Listing Date | Thursday, June 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 3, 2024 |
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹121,000 |
| Retail (Max) | 1 | 1000 | ₹121,000 |
| HNI (Min) | 2 | 2,000 | ₹242,000 |
| Lot Size Calculator | |||
The promoters of the company are Jagjit Singh Dhillon and Navneet Kaur.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 68.79% |
Founded in 2017, Associated Coaters Limited provides services for pre-treatment and powder coating of aluminium extrusions in the architectural and Real Estate Industries.
The company's annual capacity is 1,200 metric tons, with an Automatic Coating Plant and a Manual Coating Plant, making us a key player in eastern India for aluminium extrusion coating.
The company operates two manual powder coating plants and one fully automatic powder coating plant established in July 2017.
The company follows a strong Quality Management System as an ISO 9001:2015-certified organization.
On November 30, 2023, the company had 15 dedicated employees in various roles.
Associated Coaters Limited's revenue increased by 157.47% and profit after tax (PAT) rose by 297.22% 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 | 364.74 | 296.12 | 201.81 | 2.72 |
| Revenue | 397.00 | 358.94 | 139.41 | |
| Profit After Tax | 75.77 | 54.30 | 13.67 | -0.14 |
| Net Worth | 141.11 | 70.34 | 16.05 | 2.38 |
| Reserves and Surplus | 48.11 | 67.34 | 13.05 | -0.62 |
| Total Borrowing | 9.90 | 9.90 | 10.10 | 0.20 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Associated Coaters IPO is Rs 16.36 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 71.66% |
| ROCE | 68.30% |
| Debt/Equity | 0.07 |
| RoNW | 53.69% |
| P/BV | 7.98 |
| PAT Margin (%) | 19.08 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.84 | 3.2 |
| P/E (x) | 20.72 | 37.78 |
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
[Dilip Davda] The company is engaged in the business of powder coating of aluminium extrusions used for real estate industry. It is operating in a highly competitive and fragmented segment. Based on FY24 annualized super earnings, the issue appears fully priced. Tiny post-IPO equity indicates longer gestation period for migration. IPO expenses of 22.8% indicates fully structure model of the IPO. There is no harm in skipping this fully priced issue. Read detail review...
The Associated Coaters IPO is subscribed 371.14 times on June 3, 2024 6:19:05 PM. The public issue subscribed 494.99 times in the retail category, times in the QIB category, and 239.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 239.63 |
| Retail | 494.99 |
| Total | 371.14 |
Total Application : 131,588 (739.26 times)
| Listing Date | June 6, 2024 |
| BSE Script Code | 544183 |
| NSE Symbol | |
| ISIN | INE0RIQ01013 |
| Final Issue Price | ₹121 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹121.00 |
| ₹142.00 |
| ₹134.90 |
| ₹149.10 |
| ₹134.90 |
Associated Coaters Limited
Ashuti Khanberia Maheshtala LP
20/83/46, Kolkata, Vivekanandapur
, South 24 Parganas, , Thakurpukur Mahestola
Phone: +91 98304 37701
Email: info@associatedcoaters.in
Website: https://associatedcoaters.in/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Check our SME IPO Guide 
Associated Coaters IPO is a SME IPO of 422,000 equity shares of the face value of ₹10 aggregating up to ₹5.11 Crores. The issue is priced at ₹121 per share. The minimum order quantity is 1000 Shares.
The IPO opens on May 30, 2024, and closes on June 3, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Associated Coaters IPO using UPI as a payment gateway. Zerodha customers can apply in Associated Coaters IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Associated Coaters IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Associated Coaters IPO opens on May 30, 2024 and closes on June 3, 2024.
Associated Coaters IPO lot size is 1000 Shares, and the minimum amount required is ₹121,000.
You can apply in Associated Coaters IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Associated Coaters IPO will be done on Tuesday, June 4, 2024, and the allotted shares will be credited to your demat account by Wednesday, June 5, 2024. Check the Associated Coaters IPO allotment status.
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