Retina Paints IPO: The Retina Paints IPO date has been set. Retina Paints IPO is a BSE SME IPO that will raise ₹11.10 crores through the IPO. The price band for Retina Paints’ IPO is set at 30 with a market lot of 4000 shares. Retina Paints public offer price is ₹30 per share.
Retina Paints IPO Dates
Retina Paints IPO will begin on April 19 and end on April 24, 2023. Retina Paints Limited produces Decorative Paints. They make emulsions, distempers, primers, and other products. Retina Paints offer size is ₹11.10 crores. Their products are used by businesses, industrial plants, communities, and individuals. They sell their goods through distributors. The shares are proposed to be listed on BSE SME.
Retina Paints IPO Details
| IPO Date | Apr 19, 2023 to Apr 24, 2023 |
| Face Value | ₹10 per share |
| Price | ₹30 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 3,700,000 shares (aggregating up to ₹11.10 Cr) |
| Fresh Issue | 3,700,000 shares (aggregating up to ₹11.10 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Other Shares Offered | 50% of the Net Issue |
| Retail Shares Offered | 50% of the Net Issue |
Important Dates of Retina Paints IPO
Retina Paints IPO opens on Apr 19, 2023, and closes on Apr 24, 2023.
| Event | Tentative Date |
|---|---|
| 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 |
Retina Paints IPO Lot Size
The Retina Paints IPO lot size is 4000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹120,000 |
| Retail (Max) | 1 | 4000 | ₹120,000 |
| HNI (Min) | 2 | 8,000 | ₹240,000 |
Retina Paints IPO Promoter Holding
Mr. Rakesh Dommati and Ms. Rajitha Koyyada are the promoters of the company.
Objects of the Retina Paints IPO
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- Working Capital Requirements
- General Corporate Purposes.
About Retina Paints IPO
Retina Paints Limited, founded in 2010, manufactures Decorative Paints such as Distempers, Wall Care Products, Primers, Emulsions, and so on. Following manufacturing, these products are distributed to various Distributors.
Their water-based paints are used in both residential and commercial structures. To improve efficiency, the company recently introduced tinting machines. The tinting machine is made up of a number of colourant reservoirs that contain colourant, one or more cleaning fluid supply conduits, and one or more dispenser heads that dispens colourant into a paint container.
Retina Paints Limited follows a B2B business model, in which they sell their products to dealers and distributors, who then sell the products to end customers. The company hopes to expand its presence and reach all regions of the country, if not the entire country.
Water-based paints from the company are used in both residential and commercial buildings. Retina Paints operates on a B2B business model, in which the company sells its products to dealers and distributors, who then sell to end users. The company has a distribution network in Telangana and Andhra Pradesh, and it also has a presence in Odisha to sell its products.
The company employed 21 people at its two factories in Telangana as of December 2022. The Nacharam factory produces paint, textures, and wall putty with an annual capacity of 10,000 tonnes, while the Rayaraopet facility produces textures and wall putty.