Siddhika Coatings IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 19, 2022Let’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 Value | Rs 10 |
| Price Band | Rs 57 |
| Listing At | NSE EMERGE |
| Min. Order Quantity | 2000 Shares |
| Listing Date | NA |
| IPO Size | Rs 4.70 Cr |
| Tick Size | 1 |
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 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 / Date | NII | RII | Total Subscription |
| 1st Day – Mar 24 | 1.13x | 0.70x | 0.91x |
| 2nd Day – Mar 25 | 1.65x | 1.40x | 1.53x |
| 3rd Day – Mar 26 | 2.33x | 2.87x | 2.60x |
| Shares Offered or Net Issue | 391,000 | 391,000 | 782,000 |
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.
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 20 | Mar 19 | Mar 18 | |
| Total Assets | 2142.26 | 2302.13 | 2054.86 | 1535.18 |
| *Total Revenue | 614.65 | 3041.78 | 3223.74 | 2214.65 |
| Total Expense | 587.66 | 2631.88 | 2737.00 | 1860.30 |
| Profit After Tax | 19.98 | 295.86 | 351.14 | 256.44 |
Earnings per Equity Share (in Lakh)
| Sep 20 | *Mar 20 | Mar 19 | Mar 18 | |
| Basic | 8.82 | 130.60 | 154.99 | 113.19 |
| Diluted | 0.88 | 25.40 | 154.99 | 113.19 |
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:
- 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 Makers | Issue of [●] Equity Shares aggregating Rs. [●] lakhs. |
| Net Issue to the Public | Issue 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 Issue | 22,65,500 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 EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-20 | 25.40 | 17.42% | 75.86 |
| Mar-19 | 154.99 | 24.09% | 74.98 |
| 31-Mar-18 | 113.19 | 22.35 % | 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
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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