Retina Paints Limited SME IPO Detail

Incorporated in 2010, Retina Paints Limited is engaged in the manufacturing of 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 Limited operates on B2B Business Model, where they sell their products to dealers and distributors and thereafter, these dealers sell the products to the end customers.

The company aspires to enlarge its presence and reach all regions of the country and possibly across the country.

Retina Paints IPO Details

IPO DateApr 19, 2023 to Apr 24, 2023
Listing Date[.]
Face Value₹10 per share
Price₹30 per share
Lot Size4000 Shares
Total Issue Size3,700,000 shares
(aggregating up to ₹11.10 Cr)
Fresh Issue3,700,000 shares
(aggregating up to ₹11.10 Cr)
Issue TypeFixed Price Issue IPO
Listing AtBSE SME

Retina Paints IPO Reservation

Other Shares Offered0 (0.00%)
Other Shares Offered1,850,000 (50.00%)
Retail Shares Offered1,850,000 (50.00%)
Market Maker portion188,000 shares
Total Shares Offered3,700,000

Retina Paints IPO Tentative Timetable

Retina Paints IPO opens on Apr 19, 2023, and closes on Apr 24, 2023.

EventTentative Date
Opening DateApr 19, 2023
Closing DateApr 24, 2023
Basis of AllotmentApr 27, 2023
Initiation of RefundsApr 28, 2023
Credit of Shares to DematMay 2, 2023
Listing DateMay 3, 2023
UPI Mandate Confirmation Cut-Off Time5.00 PM on the issue closing day

Retina Paints IPO Lot Size

The Retina Paints IPO lot size is 4000 shares.

Retail (Min)14000₹120,000
Retail (Max)14000₹120,000
HNI (Min)28,000₹240,000

Retina Paints IPO Promoter Holding

Mr. Rakesh Dommati and Ms. Rajitha Koyyada are the promoters of the company.

Pre Issue Share Holding80.70%
Post Issue Share Holding59.28%

Company Financials(In Lakh)

Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing

Objects of the Issue

The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:

  1. Working Capital Requirements
  2. General Corporate Purposes.

Retina Paints IPO Review (Avoid)

[Dilip Davda]  The company operates in a highly competitive and fragmented segment with many big players around. The sudden boost in its bottom line for 8M FY23 raises eyebrows and concern over sustainability going forward. Even based on such super earnings, the issue appears aggressively priced while based on its track records so far, the issue appears exorbitantly priced. It has current equity of Rs. 10+ cr. that will rise to around Rs. 14 cr. post IPO, the top line is around Rs. 6+ cr. and wants Rs. 11 cr. from IPO proceeds, isn’t it a big surprise? There is no harm in skipping this pricey issue.

Retina Paints IPO Subscription Status (Bidding Detail)

The Retina Paints IPO is subscribed 2.31 times on Apr 21, 2023 7:02:00 PM. The public issue subscribed 2.22 times in the retail category, times in the QIB category, and 2.34 times in the NII category.

CategorySubscription (times)

Total Application : 1,266 (2.73 times)

Company Contact Information

Retina Paints Limited
Block No 2, Floors 2 & 3, Survey No. 184 & 185,
Opp Ganesh Kaman, Phase V, IDA, Cherlapally,
Hyderabad – 500051, Rangareddi
Phone: 7330641515

Retina Paints IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200

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