Retina Paints IPO will open for subscription from 19 April 2023. the company aims for an issue size of 11.10 Cr through this IPO.
About Company
Incorporated in 2010, Retina Paints manufactures decorative paints like Distempers, Primers, Wall Care Products, Emulsions, etc., and further sells them to different distributors. The company’s water-based paints are used for residential and for commercial buildings. Retina Paints works on a B2B business model, the company sells its products to dealers and distributors and then they sell to the end customers. The company has a network of distributors in the markets of Telangana and Andhra Pradesh and it also has a presence in Odisha for selling its products.
As of December 2022, the company employed 21 workers at its two factories in Telangana. The Nacharam factory produces paint, textures, and wall putty with an annual production capacity of 10,000 tons while the new facility in Rayaraopet produces textures and wall putty.
Basic details about the company
| Full name | Retina Paints Limited |
| Sector | Chemicals |
| Industry | Paints |
| Company Website | http://www.retinapaints.com/ |
The Objective of the Issue
- Working Capital Requirements
- General Corporate Purposes.
IPO Timetable
| IPO Opening date | 19 April 2023 |
| IPO Closing | 24 April 2023 |
| Basis of Allotment | 27 April 2023 |
| Initiation Refund | 28 April 2023 |
| Credit to Demat Account | 02 May 2023 |
| Listing Date | 03 May 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹11.10 Cr – 3,700,000 shares |
| Fresh Issue | ₹11.10 Cr – 3,700,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹30 per share |
| Lot size | 4000 Shares |
| Retail Allocation | 50% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹120,000 |
| Retail (Max) | 1 | 4000 | ₹120,000 |
| HNI (Min) | 2 | 8,000 | ₹240,000 |
Reservation Details
| QIB Shares Offered | – |
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | 8M FY 2023 | |
| Revenue | 680.44 | 685.76 | 638.28 | 527.67 |
| Expenses | 670.72 | 677.21 | 627.25 | 474.75 |
| Net income | 4.67 | 4.55 | 11.33 | 39.99 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 0.08 | 0.08 | 0.17 |
| PE ratio | – | – | 176.47 |
| RONW (%) | 5.14 | 4.77 | 5.16 |
| NAV | 1.57 | 1.63 | 3.29 |
| EBITDA (%) | 5.14 | 7.31 | 9.87 |
| ROCE (%) | 3.0 | 3.0 | 3.0 |
| Debt/Equity | 3.51 | 6.44 | 2.68 |
Company Promoters
- Mr. Rakesh Dommati
- Ms. Rajitha Koyyada
Promoter Holding
| Pre Issue Share Holding | 80.70% |
| Post Issue Share Holding | 59.28% |
Lead Manager(s)
GRETEX CORPORATE SERVICES LIMITED
Office No. 13, 1st Floor, New Bansilal Building,
Raja Bahadur Mansion, 9-15, Homi Modi Street,
Fort, Mumbai– 400001, Maharashtra, India
Phone: +91 22 4002 5273 / 96532 49863
Email: info@gretexgroup.com
Website: www.gretexcorporate.com
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. 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
Contact Details
RETINA PAINTS LIMITED
Block No 2, Floors 2 & 3, Survey No. 184 & 185,
Opp Ganesh Kaman, Phase V, IDA, Cherlapally,
Hyderabad 500051, Rangareddi, Telangana, India
Phone: 7330641515
E-mail: info@retinapaints.com
Website: www.retinapaints.com
Allotment Status
Retina Paints IPO allotment status will be available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.
Final thoughts
Retina Paints IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
