Let’s have a detailed review of the company and analytics of the Siddhika Coatings IPO release date, IPO offer price, subscription, Siddhika Coatings Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Face ValueRs 10
Price BandRs 57
Listing AtNSE EMERGE
Min. Order Quantity2000 Shares
Listing DateNA
IPO SizeRs 4.70 Cr
Tick Size1

Siddhika Coatings IPO is listed at [●] premium. Check out the live share price by clicking on the below link.

Live Performance – Siddhika Coatings Share Price

Siddhika Coatings IPO – Summary

Siddhika Coatings IPOSiddhika Coatings Limited is a strategic channel partner in India for SK Kaken Ltd. (‘SKK’) and an authorised importer of its products through SKK Singapore Pte. Ltd. SKK is a renowned coatings and pigments manufacturer based in Japan.

Company operates in the Paints & Coatings Sector and also provide application services which include preparing and coating interior as well as exterior surfaces of civil structures using organic and inorganic architectural textured pigments and technical-grade functional coatings.

The Promoter of this company is SIDDHIKA BUSINESS APPLICATIONS PRIVATE LIMITED. The lead manager to the issue is UNISTONE CAPITAL PRIVATE LIMITED, and the Registrar to this issue is SKYLINE FINANCIAL SERVICES PRIVATE LIMITED.


Siddhika Coatings IPO Date

The opening and the closing date of IPO of Siddhika Coatings Limited is Mar 24, 2021 and Mar 26, 2021.


Siddhika Coatings Limited IPO Subscription

Day / DateNIIRIITotal Subscription
1st Day – Mar 241.13x0.70x0.91x
2nd Day – Mar 251.65x1.40x1.53x
3rd Day – Mar 262.33x2.87x2.60x
Shares Offered or Net Issue391,000391,000782,000

The shares subscribed by the public will be updated here.


Siddhika Coatings IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Siddhika Coatings Limited IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization
Refunds Initiation
Credit of Shares to Demat Account
Share Listing Date

Siddhika Coatings IPO Price Band / Cash Price

The face value of each share is Rs.10, but the price band of the IPO is Rs.57 


Siddhika Coatings IPO Equity Size

This Initial Public Issue of 8,24,000 Equity Shares of Rs.10 each for cash at a price of Rs.57  per equity share aggregating to Rs.4.70 Cr.


Siddhika Coatings IPO Share Offering

Net Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] equity Shares of Rs.10/ each.

Issue Size: 8,24,000 Equity Shares of Rs.10 each, aggregating to Rs.4.70 Cr.


Siddhika Coatings IPO – Live Performance

The listing date of this IPO is [●] . You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Siddhika Coatings Share Price

Siddhika Coatings IPO Grey Market Premium

The Siddhika Coatings Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Siddhika Coatings IPO – Company Overview

The Company is led by their Directors, Mr. Charitra Maheshwari, Mr. Gaurav Agarwal, Mr. Abhijeet Banerjee and Mr. Manvendra Pratap Singh, who are all individually well experienced in the project management and paint industry. They are supported by efficient teams within the Company who manage the application and coordination process.

The application team manages approximately 250,000 sq. mtrs. of application contracts, annually. This team includes experienced applicators and supervisors who are thoroughly trained in skillful application of SKK’s products.

This team is led by experienced professionals in this business segment and with SKK products. The management is strictly committed towards the promotion and usage of only SKK’s products and have thus become extremely in tune with its application, methods, instructions and usage.

They are focused on providing bespoke services for both, existing clients with repeat contracts as well as new clients to suit their requirements. They believe that this personalized effort, backed by consistent exemplary execution quality, has enabled to achieve client satisfaction and thus aided the progress of their business.

Siddhika Coatings IPO – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary:

Amount (in INR & Lakh)
Sep 20*Mar 20Mar 19Mar 18
Total Assets2142.262302.132054.861535.18
*Total Revenue614.653041.783223.742214.65
Total Expense587.662631.882737.001860.30
Profit After Tax19.98295.86351.14256.44

Earnings per Equity Share (in Lakh)

Sep 20*Mar 20Mar 19Mar 18
Basic 8.82130.60154.99113.19
Diluted0.8825.40154.99113.19

Restated Consolidated Financial Statements show that they have grown their total revenue at a CAGR of 11% from Rs. 2197.63 lakhs to Rs. 3012.53 lakhs in Fiscal 2018 to Fiscal 2020 respectively. They had an EBITDA margin of 14.13% and a PAT margin of 9.83% for the financial year ended March 31, 2020.

For the six months period ended September 30, 2020 and financial years ended March 31, 2020, 2019, and 2018, their restated revenue stood at Rs. 603.88 Lakhs, Rs. 3012.53 lakhs, Rs. 3,194.24 Lakhs, and Rs. 2,197.63 Lakhs, respectively.

Further, restated Profit After Tax (“PAT”) for the six months period ended September 30, 2020 and financial years ended March 31, 2020, 2019, and 2018 was recorded at Rs. 19.98 lakhs, Rs. 295.86 lakhs, Rs. 351.14 Lakhs, and Rs. 256.44 Lakhs, respectively.

Their earnings before interest, tax, depreciation and amortization (“EBITDA”) for the six months period ended September 30, 2020 and financial years ended March 2020, 2019 and 2018 was Rs. 33.44 lakhs, Rs. 425.69 lakhs, Rs. 500.73 Lakhs, and Rs. 366.40 Lakhs, respectively.


Siddhika Coatings Limited IPO – Promoters

The Promoter of this company is:

  1. SIDDHIKA BUSINESS APPLICATIONS PRIVATE LIMITED

List of Related Parties (Key Managerial Personnel)

  • Ashish Kumar Sonwani, COMPANY SECRETARY & COMPLIANCE OFFICER
  • Chandan Tiwari, Chief Financial Officer

Competitive Strengths of Siddhika Coatings Limited

  • Expansion
  • Training and Utilities
  • Value engineering by enhancing building life,
  • Aesthetics with an arrangement of all renovation work under one contract.

Siddhika Coatings IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered Issue of upto 8,24,000 Equity Shares aggregating Rs.4.70 Cr.
of which:
Issue Reserved for the Market MakersIssue of [●] Equity Shares aggregating Rs. [●] lakhs.
Net Issue to the PublicIssue of [●] Equity Shares aggregating Rs. [●] lakhs.
Of which:
Retail Investors Portion [●] Equity Shares having face value of Rs.10.00 aggregating Rs. [●] lakhs
Other than Retail Individual Investors[●] Equity Shares having face value of Rs.10.00 aggregating Rs. [●] lakhs.
 Equity Shares outstanding prior to the Issue22,65,500 Equity Shares
 Equity Shares outstanding after the Issue Equity Shares

Siddhika Coatings IPO Issue Object

Their Company proposes to utilise the Net Proceeds towards funding the following objects:

1. To part finance the Working Capital Requirements
2. General Corporate Purposes
3 To meet Issue Expenses.

Business strategies of Siddhika Coatings Limited

  • Monetize on untapped potential of specialized sector
  • Expansion focused on single brand usage and specialization.
  • Training facility for applicators and project technicians which will ensure consistent uniform quality services delivered to all clients.

Siddhika Coatings IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • Experienced Promoter and Management Expertise
  • Unique Brand Positioning
  • Result Oriented
  • Geographical Presence
  • Quality assurance

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-2025.4017.42%75.86
Mar-19154.9924.09%74.98
31-Mar-18113.1922.35 %NA

Siddhika Coatings IPO : Competitive Peers

As on the date of this draft Prospectus, there are no comparable peer which is listed companies in India and which are engaged in the same line of business as their Company, hence comparison with industry peers are not applicable.


Siddhika Coatings IPO Lead Managers

Lead Managers
UNISTONE CAPITAL PRIVATE LIMITED
12, Floor no – 2, Shashank CHS LTD,
Manmala Tank Road, Near Starcity Cinema,
Mahim, Mumbai- 400016, India.
Telephone: +91 9322997964
Email: mb@unistonecapital.com
Investor grievance email: compliance@unistonecapital.com
Contact Person: Mr. Brijesh Parekh
Website: www.unistonecapital.com
SEBI registration number: INM000012449
CIN: U74120MH2015PTC270984

Siddhika Coatings IPO Registrar to offer

Registrar to the Offer
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, 1st Floor, Okhla Industrial Area Phase-I,  New Delhi – 110020,
India Telephone: 011 40450193-97
Facsimile: 011 26812682
Email: virenr@skylinerta.com
Investor grievance email: info@skylinerta.com
Contact Person: Ms. Sarita Sigh
Website: www.skylinerta.com
SEBI Registration Number: INE00003241
CIN:U74899DL1995PTC071324

Siddhika Coatings IPO – Other Details

  • Statutory Auditor – M/s V C A N & CO.
  • Legal Counsel to the Company – NA
  • Bankers to the Company –  ICICI Bank Limited


Siddhika Coatings IPO Review by Stock Brokers

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