Siddhika Coatings Limited is a strategic channel partner for SK Kaken Ltd. (‘SKK’) in India, as well as an authorised importer of its products via SKK Singapore Pte. Ltd. The company has set the IPO date as well as the price range at which the shares will be offered for sale. Let’s take a peek at the particulars of the Siddhika Coatings Limited IPO.
Siddhika Coatings IPO Date & Price Band
|IPO Open:||24 March 2021|
|IPO Close:||26 March 2021|
|IPO Size:||Approx ₹4.70 Crore|
|Face Value:||₹10 Per Equity Share|
|Price Band:||₹57 Per Share|
|Listing on:||NSE SME|
Siddhika Coatings IPO Market Lot
|Minimum Lot Size:||Minimum 2000 Shares|
|Minimum Lot Size:||Maximum 2000 Shares|
Siddhika Coatings IPO Allotment & Listing
|Basis of Allotment:||April 2021|
|Credit to Demat Account:||April 2021|
|Listing Date:||April 2021|
Financials of Siddhika Coatings Limited.
|Total Assets (in millions)||2,142.26||2,302.13||2,054.86||1,535.18|
|Total Revenue (in millions)||614.65||3,041.78||3,223.74||2,214.65|
|Profit After Tax (in millions)||19.98||295.86||351.14||256.44|
About Siddhika Coatings Limited
Siddhika Coatings Ltd, founded in 2010, is a major supplier of SK Kaken Ltd (SKK) products and speciality paint in India. Siddhika Coatings Ltd is a strategic channel partner of SKK, a Japanese coatings and pigments manufacturer, and is involved in the business of providing Architectural Coatings Supplies & Applications in India. Coating interior and exterior surfaces of civil structures with organic and inorganic architectural pigments and technical-grade functional coatings is another service offered by the company.
It sells to real estate developers, government and private entities in India, including IT firms, hospitality leaders, business park developers, and eminent architects. Over the last three calendar years, it has successfully completed 160+ projects in 11 Indian states. It has stores in 11 Indian states that serve its customer i.e. Delhi, Maharashtra, Uttar Pradesh, Haryana, Gujarat, Rajasthan, Tamil Nadu, Himachal Pradesh, Karnataka, Telangana and West Bengal.
Objective of the Issue:
The funds raised from the new issue will be used by Siddhika Coatings Ltd to:
- To satisfy the criteria for working capital.
- General Corporate Objectives.
- To cover the costs of the issue.