Associated Coaters IPO will open for subscription from 30 May 2024. The company aims for an issue size of ₹5.11 Cr through this IPO.
Company Overview
| Full name | Associated Coaters Limited |
| Sector | Miscellaneous |
| Industry | Miscellaneous |
| Company Website | https://associatedcoaters.in/ |
About Company
Associated Coaters supplies pre-treatment and powder coating of aluminum extrusions in the architect and real estate industry. The company is located in Vivekanandapur, 24 Paraganas (South), Kolkata, and delivers powder-coated aluminum sections across Kolkata, Orissa, Siliguri, Bihar, and Jharkhand. Over its six-year journey, Associated Coaters has evolved into the approved applicator of Akozonobel, Jotun, and Asian Paints in architectural coating. The company’s annual capacity is 1,200 metric tons, including one automatic coating plant and two manual coating plants.
As of November 30, 2023, the company is actively managing 13 ongoing projects, boasting a cumulative order book value exceeding INR 2 crore. The company has a dedicated team of 15 employees on the payroll, distributed across various roles.
The Objectives of the Issue
- Funding capital expenditure towards installation of plant & machinery in the existing premises
- Working Capital Requirements
- General Corporate Purposes.
Associated Coaters IPO Timetable
| IPO Opening date | 30 May 2024 |
| IPO Closing | 03 June 2024 |
| Basis of Allotment | 04 June 2024 |
| Initiation Refund | 05 June 2024 |
| Credit to Demat Account | 06 June 2024 |
| Listing Date | 06 June 2024 |
Associated Coaters IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹5.11 Cr – 422,000 shares |
| Fresh Issue | ₹5.11 Cr – 422,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹121 per share |
| Lot size | 1000 Shares |
| Market Maker portion | 66,000 shares |
| Shareholding pre-issue | 930,000 |
| Shareholding post-issue | 1,352,000 |
| Listing Exchange | BSE SME |
Associated Coaters IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹121,000 |
| Retail (Max) | 1 | 1000 | ₹121,000 |
| HNI (Min) | 2 | 2,000 | ₹242,000 |
Associated Coaters Offer Documents
Associated Coaters Offer Reservation Details
| 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 Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 9M FY 2024 | |
| Revenue | – | 139.41 | 358.94 | 397.00 |
| Expenses | 0.14 | 120.94 | 285.57 | 293.90 |
| Net income | (0.14) | 13.67 | 54.30 | 75.77 |
Associated Coaters Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (0.01) | 1.47 | 5.84 |
| PE ratio | – | – | 20.72 |
| RONW (%) | 5.71 | 85.17 | 77.19 |
| NAV | 0.26 | 1.73 | 7.56 |
| ROCE (%) | 5.27 | 70.66 | 91.11 |
| EBITDA (%) | – | 16.08 | 22.70 |
| Debt/Equity | 0.08 | 0.63 | 0.14 |
Company Promoters
- Jagjit Singh Dhillon
- Navneet Kaur
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 68.79% |
Associated Coaters Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 5 June 2024 | 55 | – | 38,500 |
| 4 June 2024 | 62 | – | 45,000 |
| 3 June 2024 | 45 | – | 35,000 |
| 31 May 2024 | 20 | – | 15,000 |
| 30 May 2024 | 20 | – | 15,000 |
| 29 May 2024 | 20 | – | 15,000 |
Associated Coaters IPO Subscription Update
| Category | Non-retail | Retail | Total |
|---|---|---|---|
| Shares Offered | 1,78,000 | 1,78,000 | 3,56,000 |
| 3 Jun 2024 | 247.66 | 494.99 | 371.32 |
| 31 May 2024 | 9.38 | 52.57 | 30.98 |
| 30 May 2024 | 2.89 | 17.97 | 10.43 |
Associated Coaters IPO Allotment Status
Associated Coaters IPO allotment status is now available on Bigshare Services’ website. Click on this link to get allotment status.
Associated Coaters IPO Listing Details
| Listing Date | 06 June 2024 |
| BSE Scrip Code | 544183 |
| NSE Symbol | – |
| ISIN | INE0RIQ01013 |
| Final Issue Price | ₹121 per share |
Associated Coaters IPO Listing Day Update
| Listing Exchange | BSE SME |
| Final Issue Price | ₹121.00 |
| Open | ₹142.00 |
| Low | ₹134.90 |
| High | ₹149.10 |
| Last Trade | ₹134.90 |
Associated Coaters Lead Manager(s)
GRETEX CORPORATE SERVICES LIMITED
A- 401, Floor 4th, Plot FP-616, (PT), Naman Midtown,
Senapati Bapat Marg, Near Indiabulls, Dadar (W),
Delisle Road, Mumbai – 400013, Maharashtra, India
Phone: +91 96532 49863
Email: info@gretexgroup.com
Website: www.gretexcorporate.com
Associated Coaters Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Associated Coaters Contact Details
ASSOCIATED COATERS LIMITED
Ashuti Khanberia Maheshtala LP 20/83/46, Kolkata,
Vivekanandapur, South 24 Parganas, Thakurpukur
Mahestola, West Bengal, India, 700141
Phone: +91 98304 37701
E-mail: info@associatedcoaters.in
Website: www.associatedcoaters.in
Associated Coaters IPO FAQs
What is the Associated Coaters offer size?
Associated Coaters offer size is ₹ 5.11 crores.
What is the Associated Coaters offer price band?
Associated Coaters public offer price is ₹ 121 per share.
What is the lot size of the Associated Coaters Offer?
Associated Coaters offer a lot size is 1,000 shares.
What is Associated Coaters GMP today?
Associated Coaters IPO GMP today is ₹ 55 per share.
What is the Associated Coaters kostak rate today?
Associated Coaters kostak rate today is ₹ NA per application.
What is Associated Coaters Subject to the Sauda rate today?
Associated Coaters is Subject to the Sauda rate today is ₹ 38,500 per application.
Final thoughts
Associated Coaters IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
