Associated Coaters was incorporated on December 22, 2017. The company is engaged in providing services through pre-treatment and powder coating of aluminum extrusions for the architecture and real estate industries.
| Bidding Dates |
|---|
| 30 May 2024 - 03 Jun 2024 |
| Subscription |
|---|
| 313.25x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,21,000 | 1 | 1 | 1000 | 422.0 K | ₹121 | 68.79 % | ₹51.1 M | RHP DOC |
Associated Coaters IPO SUBSCRIPTION STATUS
03 Jun '24Associated Coaters IPO overall subscription rate was 313.25 times the total available shares
Associated Coaters IPO retail subscription rate was 417.57 times in the retail segment
Associated Coaters IPO non-institutional investor subscription rate was 208.92 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
03 Jun 2024 (Day 3) | 417.57x | 208.92x | - |
31 May 2024 (Day 2) | 44.02x | 7.91x | - |
30 May 2024 (Day 1) | 15.16x | 2.44x | - |
Associated Coaters FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 6MFY24 | 7.6 | 39.7 | 2.7 | -2.0 | 28.7% |
| FY23 | 5.4 | 35.9 | 6.3 | 5.9 | 22.7% |
| FY22 | 1.4 | 13.9 | 5.2 | -0.4 | 16.1% |
Associated Coaters IPO SUBSCRIPTION STATUS DETAILS
Associated Coaters had 422.0 K shares on offer
Associated Coaters IPO offer price was ₹121
Associated Coaters IPO minimum Investment was ₹121000
Associated Coaters IPO issue size was ₹ 51.1 M
Associated Coaters had a minimum lot size of 1000 Shares per application
Associated Coaters NUMBER OF SHARES ON OFFER
Associated Coaters IPO IMPORTANT DATES
| Issue Open Date | 30 May 2024 |
| Issue close Date | 03 Jun 2024 |
| Allotment Date | 04 Jun 2024 |
| Refund Date | 05 Jun 2024 |
| Demat Account Credit Date | 05 Jun 2024 |
| Listing Date | 06 Jun 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Associated Coaters Allotment Status | Exchange |
Associated Coaters IPO subscription opened on 30 May 2024, and closed on 03 Jun 2024
IPO allotment for Associated Coaters was finalized on Tuesday, 04 Jun 2024
IPO listing for Associated Coaters was on NSE and BSE on Thursday, 06 Jun 2024
Associated Coaters IPO LISTING GAINS
| Issue Price (adjusted) | 121.0 |
| Listing Open Price | 142.0 |
| Listing Close Price | 134.9 |
| Listing Gain% | 17.4% |
| Current Gain% | -16.9% |
Associated Coaters Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Associated Coaters Ltd. | 100.5 | 13.6 | 11.9 | 1.5 | 1.6 | 14.6 | 11 | 8.4 | 40.4 | 1.1 | 7.9 | 8.5 | 7.9 |
| Sheela Foam Ltd. | 679.2 | 7417.6 | 34.6 | 0.1 | 1.8 | 4.9 | 3.1 | 3875.1 | 8.5 | 159.6 | 66.1 | 19.6 | 273.1 |
| Greenlam Industries Ltd. | 242.4 | 6183.5 | 66.5 | 0.4 | 2 | 4.8 | 1.9 | 3054.3 | 18.4 | 56.3 | -19.3 | 3.6 | 172.9 |
| Responsive Industries Ltd. | 166.9 | 4450.5 | 30 | -1.2 | 3.2 | 9.5 | 8 | 1404.2 | -1.6 | 148.4 | -25.4 | 5.6 | -25.4 |
| Wakefit Innovations Ltd. | 124.5 | 4124.4 | 21.4 | 2.7 | 16.7 | 10.8 | 1534.4 | 17.5 | 189.2 | 640.4 | 5.8 | ||
| Euro Pratik Sales Ltd. | 303 | 3096.7 | 35.9 | 1.8 | 8.3 | 24.9 | 19.4 | 343 | 17.7 | 77.1 | 0.5 | 8.4 | 20.4 |
Associated Coaters INFORMATION ON IPO ISSUE
About Associated Coaters
Associated Coaters was incorporated on December 22, 2017. The company is engaged in providing services through pre-treatment and powder coating of aluminum extrusions for the architecture and real estate industries.
Object of the Issue
- Funding capital expenditure towards installation of plant & machinery in the existing premises
- Working capital requirements
- General corporate purposes
Associated Coaters - PROMOTERS
| Name |
|---|
| Jagjit Singh Dhillon |
| Navneet Kaur |
Associated Coaters Lead Manager
Gretex Corporate Services Limited
info@gretexgroup.com
Associated Coaters Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Associated Coaters Strengths
Project execution capabilities
As of November 30, 2023, the company is actively engaged in the successful management of 13 ongoing projects, boasting a cumulative order book value exceeding Rs 2 crore
Strong customer relationships
Through dedicated efforts, the company has successfully cultivated a substantial and loyal client base. This strategic approach not only fosters repeat business but also fortifies long-term working relationships with its customers
Quality assurance
The company actively collaborates with major corporations to align with their stringent quality and safety benchmarks. It has been awarded a certificate of registration from QACS International for its quality management system, adhering to the stringent requirements of ISO 9001:2015
Associated Coaters Risks
Dependent on few customers
The company's top five customers contribute the majority of the revenues from operations. Any loss of business from one or more of them may adversely affect the company's revenues and profitability
Purchase order basis
The company generally does business with its customers on a purchase order basis and does not enter into long-term contracts with most of them
Faces competition
The company faces competition in the business from organized and unorganized players, which may adversely affect its business operations and financial condition
IPO FAQs
The promoters of the company are Jagjit Singh Dhillon and Navneet Kaur.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 121.0 - 121.0.
The IPO application opens on May 30, 2024 and closes on Jun 03, 2024.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 121,000.0, the maximum value for this IPO is Rs 121,000.0.
This IPO will be allotted on Jun 04, 2024.
The refund will be credited to your account on Jun 05, 2024.
The allotted shares will be credited to your demat on Jun 05, 2024.
Associated Coaters Ltd.’s shares listed on the stock exchanges on Jun 06, 2024.