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Retina Paints IPO is a fixed price issue of Rs 11.10 crores. The issue is entirely a fresh issue of 37 lakh shares.
Retina Paints IPO bidding started from April 19, 2023 and ended on April 24, 2023. The allotment for Retina Paints IPO was finalized on Thursday, April 27, 2023. The shares got listed on BSE SME on May 3, 2023.
Retina Paints IPO price is ₹30 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to ₹240,000.
Gretex Corporate Services Limited is the book running lead manager of the Retina Paints IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Retina Paints IPO is Gretex Share Broking.
Refer to Retina Paints IPO RHP for detailed information.
| IPO Date | April 19, 2023 to April 24, 2023 |
| Listing Date | May 3, 2023 |
| Face Value | ₹10 per share |
| Price | ₹30 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 3,700,000 shares (aggregating up to ₹11.10 Cr) |
| Fresh Issue | 3,700,000 shares (aggregating up to ₹11.10 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 10,240,000 |
| Share holding post issue | 13,940,000 |
| Market Maker portion | 188,000 shares Gretex Share Broking |
Retina Paints IPO offers 3,888,000 shares. 1,850,000 (47.58%) to NII, 1,850,000 (47.58%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 188,000 (4.84%) |
| Other Shares Offered | 1,850,000 (47.58%) |
| Retail Shares Offered | 1,850,000 (47.58%) |
| Total Shares Offered | 3,888,000 (100%) |
Retina Paints IPO opens on April 19, 2023, and closes on April 24, 2023.
| IPO Open Date | Wednesday, April 19, 2023 |
| IPO Close Date | Monday, April 24, 2023 |
| Basis of Allotment | Thursday, April 27, 2023 |
| Initiation of Refunds | Friday, April 28, 2023 |
| Credit of Shares to Demat | Tuesday, May 2, 2023 |
| Listing Date | Wednesday, May 3, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 24, 2023 |
Investors can bid for a minimum of 4000 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 | 4000 | ₹120,000 |
| Retail (Max) | 1 | 4000 | ₹120,000 |
| HNI (Min) | 2 | 8,000 | ₹240,000 |
| Lot Size Calculator | |||
Mr. Rakesh Dommati and Ms. Rajitha Koyyada are the promoters of the company.
| Share Holding Pre Issue | 80.70% |
| Share Holding Post Issue | 59.28% |
Incorporated in 2010, Retina Paints Limited is engaged in the manufacturing of Decorative Paints like Distempers, Wall Care Products, Primers, Emulsions, etc. After the manufacturing, these products are sold to different Distributors.
Their water-based paints are used for residential as well as commercial buildings. Recently, the company introduced tinting machines to enhance efficiency. The tinting machine comprises a plurality of colorant reservoirs containing a colorant, one or more cleaning fluid supply conduits, and one or more dispenser heads for dispensing colorant into a paint container.
Retina Paints Limited operates on B2B Business Model, where they sell their products to dealers and distributors and thereafter, these dealers sell the products to the end customers.
The company aspires to enlarge its presence and reach all regions of the country and possibly across the country.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 670.34 | 681.44 | 4.67 | 90.86 | 18.86 | 319.10 |
| 31-Mar-21 | 986.71 | 685.99 | 4.55 | 95.41 | 23.41 | 614.11 |
| 31-Mar-22 | 1,162.77 | 647.24 | 11.33 | 219.74 | 34.74 | 588.01 |
| 30-Nov-22 | 2,074.77 | 533.88 | 39.99 | 1,240.73 | 728.73 | 433.44 |
| Amount in ₹ Lakhs | ||||||
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big players around. The sudden boost in its bottom line for 8M FY23 raises eyebrows and concern over sustainability going forward. Even based on such super earnings, the issue appears aggressively priced while based on its track records so far, the issue appears exorbitantly priced. It has current equity of Rs. 10+ cr. that will rise to around Rs. 14 cr. post IPO, the top line is around Rs. 6+ cr. and wants Rs. 11 cr. from IPO proceeds, isn’t it a big surprise? There is no harm in skipping this pricey issue. Read detail review...
The Retina Paints IPO is subscribed 8.29 times on April 24, 2023 7:02:00 PM. The public issue subscribed 10.41 times in the retail category, times in the QIB category, and 6.10 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 6.10 |
| Retail | 10.41 |
| Total | 8.29 |
Total Application : 5,148 (11.12 times)
| Listing Date | May 3, 2023 |
| BSE Script Code | 543902 |
| NSE Symbol | |
| ISIN | INE0NTC01019 |
| Final Issue Price | ₹30 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹30.00 |
| ₹29.05 |
| ₹28.00 |
| ₹30.50 |
| ₹30.50 |
Retina Paints Limited
Block No 2, Floors 2 & 3, Survey No. 184 & 185,
Opp Ganesh Kaman, Phase V, IDA, Cherlapally,
Hyderabad - 500051, Rangareddi
Phone: 7330641515
Email: info@retinapaints.com
Website: http://www.retinapaints.com/
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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Retina Paints IPO is a SME IPO of 3,700,000 equity shares of the face value of ₹10 aggregating up to ₹11.10 Crores. The issue is priced at ₹30 per share. The minimum order quantity is 4000 Shares.
The IPO opens on April 19, 2023, and closes on April 24, 2023.
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 Retina Paints IPO using UPI as a payment gateway. Zerodha customers can apply in Retina Paints IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Retina Paints IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Retina Paints IPO opens on April 19, 2023 and closes on April 24, 2023.
Retina Paints IPO lot size is 4000 Shares, and the minimum amount required is ₹120,000.
You can apply in Retina Paints 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 Retina Paints IPO will be done on Thursday, April 27, 2023, and the allotted shares will be credited to your demat account by Tuesday, May 2, 2023. Check the Retina Paints IPO allotment status.
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