Siddhika Coatings Limited IPO: All you need to know

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
Retail Portion:50%
Equity:824,000 Shares

Siddhika Coatings IPO Market Lot

Minimum Lot Size:Minimum 2000 Shares
Minimum Amount:₹114,000
Minimum Lot Size:Maximum 2000 Shares
Minimum Amount:₹114,000

Siddhika Coatings IPO Allotment & Listing

Basis of Allotment:April 2021
Refunds:April 2021
Credit to Demat Account:April 2021
Listing Date:April 2021

Financials of Siddhika Coatings Limited.

Total Assets (in millions)2,142.262,302.132,054.861,535.18
Total Revenue (in millions)614.653,041.783,223.742,214.65
Profit After Tax (in millions)19.98295.86351.14256.44

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.

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