May 3, 2023
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Retina Paints IPO Particulars & Guidance at Chanakyanipothi.com,
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Retina Paints IPO Guidance:
The company is very small manufacturer of decorative paints and wall care products. The turnover and profits are very small and its comparison with Asian Paints etc are meaningless. There is not fancy in the grey market for this IPO. IPO size is not much large, so oversubscription is not an issue.
Retina Paints IPO Grey Market updates
Prior to listing
GMP: Rs.3/4, very few trades
Subject to Rates: NIL
Retina Paints IPO Subscription Status
On 24 April 2023 @ 5.00 (Day 4)
NII: 1850000 Shares 6.10T
RII: 1850000 Shares 10.45T
Total: 3700000 Shares 8.29T
Retina Paints IPO Particulars & Guidance: About the business
Established in the year 2010, Retina Paints Limited is into manufacturing of Decorative Paints like Distempers, Primers, Wall Care Products, Emulsions, etc and further sell them to different Distributors. It sources its raw materials at present indigenously for manufacturing of Paints. Its water based paints are used for residential and for commercial buildings. It has recently introduced tinting machines in its
Company. The tinting machine comprises a plurality of colorant reservoirs containing colorant, one or more cleaning fluid supply conduits and one or more dispenser heads for dispensing colorant into a paint container.
The Company works on B2B Business Model, it sells its products to the dealers and distributors and then they sell to the end customers. It has a huge network of Distributors in the markets of Telangana and Andhra Pradesh and we also have presence in Odisha for selling our Product.
It is having exposure to the markets of Telangana, Andhra Pradesh and Odissa, soon it plans to expand to other states as well. It competes with few of the major players from the Organized Market and few from the Unorganized Market in the Paint Industry.
It already has water-based products in its basket, it is also aiming for oil-based products. Oil based products are applied on wood, iron, etc. With oil products, it will be able to increase its turnover substantially. After the issue, the company is planning to sell the products directly to the end customers too along with selling it to the Distributors.
For more information about the company, Click retinapaints.com
| Retina Paints IPO Details | |
| IPO opens on Tentative | 19 April 2023 |
| IPO closes on | 24 April 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 3700000 Sh /Rs 11.10 Cr |
| * Fresh Issue | 3700000 Sh /Rs 11.10 Cr |
| * Offer for Sale | – Sh /Rs – Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs.30 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 4000Shares |
| Listing will at | BSE Sme |
| Shares offered to | ||
| Shares | Rs. (Cr) | |
| QIB (0 %) | 0 | – |
| NII (50 %) | 1756000 | 5.27 |
| RII (50 %) | 1756000 | 5.27 |
| Total Shares | 3512000 | 10.54 |
| Retail portion will be oversubscribed by | 439 | |
| Forms | ||
| How much Shares to Apply? | ||
| Min Retail Application | 4000 Sh | Rs. 120000 |
| Min HNI Application | 8000 Sh | Rs. 240000 |
Promoters of the IPO
Mr. Rakesh Dommati and Ms. Rajitha Koyyada
Objects of the IPO:
The Company proposes to utilize the Net Proceeds from the Issue towards
Working Capital requirements and General Corporate Purpose
| IPO Tentative timetable | |
| IPO opens on | 19 April 2023 |
| IPO Closes on | 24 April 2023 |
| IPO Allotment on | 27 April 2023 |
| Unblocking of ASBA | 28 April 2023 |
| Credit of Shares | 2 May 2023 |
| Listing on | 3 May 2023 |
| Registered Office of the Company |
| Block No 2, Floors 2 & 3, Survey No. 184 & 185, Opp Ganesh Kaman, Phase V, IDA, Cherlapally, Hyderabad- 500051, Rangareddi, Telangana, India. |
| IPO Lead Managers |
| GRETEX CORPORATE SERVICES Ltd |
| Registrar to the IPO |
| BIGSHARE SERVICES Pvt.ltd |
| IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs.in Cr | Rs.in Cr | Rs. | % | |
| 2019-20 | 6.81 | 0.05 | 0.08 | 5.14 |
| 2020-21 | 6.86 | 0.05 | 0.08 | 4.77 |
| 2021-22 | 6.47 | 0.11 | 0.17 | 5.16 |
| Book Value of the Share on | 31.03.2022 | Rs.3.29 | ||
| Book Value of the Share | after the IPO | Rs.- | ||
| Offer Price | Rs. 30 | |||
| Ratio Analysis | |
| Upper Price/last EPS | 41.67 |
| Upper price/BV Ratio | 9.12 |
| Upper price/BV after IPO | – |
–
Retina Paints IPO Particulars & Guidance
Peer Comparison:
| As on date of DRHP | FV | Income | PE |
| Rs. | in Cr | Ratio of | |
| The IPO Company | 10 | 5.28 | 41.67 |
| Asian Paints | 1 | 251885 | 85.56 |
| Indigo Paints | 10 | 906 | 58.24 |
| Metal Coatings | 28.50 | ||
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