Siddhika Coatings was incorporated on July 20, 2010. The company is a strategic channel partner in India for SK Kaken Ltd. and an authorised importer of its products through SKK Singapore Pte. Ltd. SKK is a renowned coatings and pigments manufacturer based in Japan.
| Bidding Dates |
|---|
| 24 Mar 2021 - 26 Mar 2021 |
| Subscription |
|---|
| 2.6x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,14,000 | 1 | 1 | 2000 | 824.0 K | ₹57 | 73.33 % | ₹47.0 M | RHP DOC |
Siddhika Coatings IPO SUBSCRIPTION STATUS
26 Mar '21Siddhika Coatings IPO overall subscription rate was 2.6 times the total available shares
Siddhika Coatings IPO retail subscription rate was 2.87 times in the retail segment
Siddhika Coatings IPO non-institutional investor subscription rate was 2.33 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
24 Mar 2021 (Day 1) | 0.7x | 1.13x | - |
25 Mar 2021 (Day 2) | 1.4x | 1.65x | - |
26 Mar 2021 (Day 3) | 2.87x | 2.33x | - |
Siddhika Coatings 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) |
| 6MFY21 | 2.0 | 60.4 | -4.6 | -4.6 |
| FY20 | 29.6 | 301.3 | 33.2 | 31.6 |
| FY19 | 35.1 | 319.4 | 11.5 | 8.0 |
| FY18 | 25.6 | 219.8 | 8.8 | 8.0 |
Siddhika Coatings IPO SUBSCRIPTION STATUS DETAILS
Siddhika Coatings had 824.0 K shares on offer
Siddhika Coatings IPO offer price was ₹57
Siddhika Coatings IPO minimum Investment was ₹114000
Siddhika Coatings IPO issue size was ₹ 47.0 M
Siddhika Coatings had a minimum lot size of 2000 Shares per application
Siddhika Coatings NUMBER OF SHARES ON OFFER
Siddhika Coatings IPO IMPORTANT DATES
| Issue Open Date | 24 Mar 2021 |
| Issue close Date | 26 Mar 2021 |
| Allotment Date | 01 Apr 2021 |
| Refund Date | 05 Apr 2021 |
| Demat Account Credit Date | 06 Apr 2021 |
| Listing Date | 07 Apr 2021 |
| Listing on Exchange(s) | NSE |
| Siddhika Coatings Allotment Status | Exchange |
Siddhika Coatings IPO subscription opened on 24 Mar 2021, and closed on 26 Mar 2021
IPO allotment for Siddhika Coatings was finalized on Thursday, 01 Apr 2021
IPO listing for Siddhika Coatings was on NSE on Wednesday, 07 Apr 2021
Siddhika Coatings IPO LISTING GAINS
| Issue Price (adjusted) | 28.5 |
| Listing Open Price | 55.0 |
| Listing Close Price | 57.0 |
| Listing Gain% | -3.5% |
| Current Gain% | 634.2% |
Siddhika Coatings 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Siddhika Coatings Ltd. | 209.2 | 64.6 | 12.4 | -0.3 | 1.1 | 22.1 | 17.4 | 59.3 | 14.5 | 10.4 | 21.7 | 16.8 | -39.1 |
| Asian Paints Ltd. | 2735 | 262340.6 | 55.1 | 1.7 | 7.1 | 20.2 | 12.5 | 36307.3 | 5.3 | 4325.4 | 17.9 | 49.7 | 32.5 |
| Berger Paints (India) Ltd. | 530.6 | 61856.5 | 50.8 | 7.8 | 5 | 16.3 | 11.2 | 11987 | 3 | 1126.9 | -4.5 | 10.4 | 6.6 |
| Kansai Nerolac Paints Ltd. | 212.4 | 17174.4 | 28.6 | -0.6 | 2.1 | 8.8 | 6.8 | 8197.8 | 3 | 589.5 | -48.4 | 7.4 | -47 |
| JSW Dulux Ltd. | 3011.7 | 13793 | 7 | 0 | 3.7 | 80.6 | 52 | 3697.7 | -10.2 | 1973.8 | 359.6 | 431 | 359.6 |
| Indigo Paints Ltd. | 1120.5 | 5348.4 | 36.9 | 15.8 | 3.8 | 12.6 | 8.9 | 1418 | 4.3 | 145.1 | 2.3 | 30.4 | 2.3 |
Siddhika Coatings INFORMATION ON IPO ISSUE
About Siddhika Coatings
Siddhika Coatings was incorporated on July 20, 2010. The company is a strategic channel partner in India for SK Kaken Ltd. and an authorised importer of its products through SKK Singapore Pte. Ltd. SKK is a renowned coatings and pigments manufacturer based in Japan.
Object of the Issue
- Meet working capital requirements
- General corporate purposes
- To meet issue expenses
Siddhika Coatings - PROMOTERS
| Name |
|---|
| Siddhika Business Applications Private Limited |
Siddhika Coatings Book Running Lead Manager
Unistone Capital Private Limited
compliances@unistonecapital.com
Siddhika Coatings Registrar to the Offer
Skyline Financial Services Private Limited
virenr@skylinerta.com
Siddhika Coatings Strengths
Experienced promoter
The company is managed by a team of competent personnel having knowledge of core aspects of business
Quality assurance
The company has an excellent record of providing quality services which makes the company stand out among competitors
Track record
The company has been able to achieve a track record of completing over 160 projects across 11 states in India over the last three calendar years
Siddhika Coatings Risks
Trademark rights
The company does not own any trademarks for the logo representing products/services or the trademark of the word “Siddhika”
Dependent on suppliers
The company is significantly dependent on a single supplier
IPO FAQs
Siddhika Coatings Ltd. IPO listing opened at Rs 55.00 while the issue price was Rs 57.00 giving -3.51% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 28.50 giving 634.21% gains since its IPO listing.
The promoter of the company is Siddhika Business Applications Private Limited.
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 57.0 - 57.0.
The IPO application opens on Mar 24, 2021 and closes on Mar 26, 2021.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 114,000.0, the maximum value for this IPO is Rs 114,000.0.
This IPO will be allotted on Apr 01, 2021.
The refund will be credited to your account on Apr 05, 2021.
The allotted shares will be credited to your demat on Apr 06, 2021.
Siddhika Coatings Ltd.’s shares listed on the stock exchanges on Apr 07, 2021.