Retina Paints IPO

About Retina Paints Ltd. IPO

Incorporated in 2010, Retina Paints Limited manufactures 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 has a distributor network spread across Andhra Pradesh, Telangana, and Odisha. The company offers a diversified product suite with oil-based and water-based products. The oil-based products are used in coloring wood, iron, etc., and the water-based colors are used in residential and commercial buildings. It has recently introduced a tinting machine in its facility.

The company started in 2010 and has its headquarters in Hyderabad, Telangana.

Retina Paints Limited operates on B2B Business Model, where they sell their products to dealers and distributors, and after that, these dealers sell the products to the end customers.

The company aspires to enlarge its presence and reach all regions and countrywide.

Details of Retina Paints Ltd. IPO

Retina Paints IPO is a new issue IPO worth Rs. 11.10 crore. The offer is a fixed issue initial public offering with the share price fixed at Rs. 30 per share. 

Retina Paints IPO opens for subscription on April 19, 2023. Retail investors can bid for one lot of 4000 shares.

Bidding Dates
19 Apr ’23 – 24 Apr ’23
Price Range
₹30 per share
Minimum Investment
To be announced
Maximum Investment
4000
Retail Discount
To be announced
Issue Size
₹11.10 crore

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date
Apr 19, 2023
Closing Date
Apr 24, 2023
Basis of Allotment
Apr 27, 2023
Initiation of Refunds
Apr 28, 2023
Credit of Shares to Demat
May 2, 2023
Listing Date
May 3, 2023
UPI Mandate Expiry DateApr 24, 2023

Retina Paints IPO Subscription Details

DateNIIRetailTotal
Day 1
Apr 19, 2023
1.740.210.98
Day 2
Apr 20, 2023
2.131.001.56
Day 3
Apr 21, 2023
2.342.222.31
Day 4
Apr 24, 2023
6.1010.418.29

Retina Paints IPO Subscription Status live

Investor CategorySubscription (Times)
Qualified Institutions Buyer[.]
Non-Institutional Buyers6.10
Retail Investors10.41
Employees[.]
Others[.]
Total8.29

Retina Paints Ltd. IPO Objective

The company proposes to utilize the net proceeds received from the fresh issues for the following.

  • To meet working capital requirements

  • Funding general corporate purposes

Should you invest in Retina Paints Ltd.?

  • The company offers a diversified product suite of oil and water-based paints, wall care putty, distempers, emulsions, and primers. 

  • Experienced promoters run Retina Paints.

  • It has a vast distributor network in Andhra Pradesh and Telangana with an expansion plan to the other south Indian states.

Competitive Peers

Other players in the domain recognized by Retina Paints Ltd. are Rathi Bars Ltd., Vaswani Industries Ltd., and Adishakti Loha and Ispat Ltd.

IPO Financials

ParticularsYear ending on November 30, 2022Year ending on March 31, 2021Year ending on March 31, 2020
Revenue from Operations527.67638.28685.76
Profit After Tax (PAT)39.9911.334.55
EBITDA86.8962.9950.11
EPS2.090.720.63
 As of November 30, 2022As of March 31, 2022As of March 31, 2021
Current Asset2,074.771,162.77986.71
Current Liability2,074.771,162.77986.71

Know before investing

Strengths

  • It has an established business model supported by a robust network of distributors.

  • It has an expanding product suite and market.

  • It has a strong marketing team to enhance brand recall and recognition.

Risks

  • A few major players dominate the Indian paint industry.

  • There are outstanding legal proceedings involving company promoters, which might impact operational and financial performance.

  • The company currently underutilizes its production capacity.

Please Click Here To Apply For Retina Paints IPO

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