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 Date | Apr 24, 2023 |
Retina Paints IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
| Day 1 Apr 19, 2023 | 1.74 | 0.21 | 0.98 |
| Day 2 Apr 20, 2023 | 2.13 | 1.00 | 1.56 |
| Day 3 Apr 21, 2023 | 2.34 | 2.22 | 2.31 |
| Day 4 Apr 24, 2023 | 6.10 | 10.41 | 8.29 |
Retina Paints IPO Subscription Status live
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyer | [.] |
| Non-Institutional Buyers | 6.10 |
| Retail Investors | 10.41 |
| Employees | [.] |
| Others | [.] |
| Total | 8.29 |
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
| Particulars | Year ending on November 30, 2022 | Year ending on March 31, 2021 | Year ending on March 31, 2020 |
|---|---|---|---|
| Revenue from Operations | 527.67 | 638.28 | 685.76 |
| Profit After Tax (PAT) | 39.99 | 11.33 | 4.55 |
| EBITDA | 86.89 | 62.99 | 50.11 |
| EPS | 2.09 | 0.72 | 0.63 |
| As of November 30, 2022 | As of March 31, 2022 | As of March 31, 2021 | |
| Current Asset | 2,074.77 | 1,162.77 | 986.71 |
| Current Liability | 2,074.77 | 1,162.77 | 986.71 |
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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