Bookbuilding IPO | ₹78 Cr | Listed at NSE SME | Wed, May 16, 2018 - Tue, May 22, 2018
Sirca Paints IPO is a book build issue of ₹77.91 crores. The issue is entirely a fresh issue of 0.49 crore shares of ₹77.91 crore.
Sirca Paints IPO bidding started from May 16, 2018 and ended on May 22, 2018. The shares got listed on NSE SME on May 30, 2018.
Sirca Paints IPO price band is set at ₹160 per share. The lot size for an application is 800. The minimum amount of investment required by an retail is ₹1,28,000 (800 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (1,600 shares), amounting to ₹2,56,000.
Navigant Corporate Advisors Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Bhaijee Portfolio Pvt.Ltd..
Refer to Sirca Paints IPO RHP for detailed Information.
IPO Open
Wed, May 16, 2018
IPO Close
Tue, May 22, 2018
Issue Price
₹160 per share
Market Cap (Pre-IPO)
₹292.31 Cr
| IPO Date | 16 to 22 May, 2018 |
| Listed on | Wed, May 30, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹151 to ₹160 |
| Issue Price | ₹160 per share |
| Lot Size | 800 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 48,69,600 shares (agg. up to ₹78 Cr) |
| Reserved for Market Maker | 2,44,000 shares Bhaijee Portfolio Pvt.Ltd. (agg. up to ₹4 Cr) |
| Fresh Issue (Ex Market Maker) | 46,25,600 shares (agg. up to ₹74 Cr) |
| Net Offered to Public | 46,25,600 shares (agg. up to ₹74 Cr) |
| Share Holding Pre Issue | 1,34,00,000 shares |
| Share Holding Post Issue | 1,82,69,600 shares |
| NSE Symbol | SIRCA |
| ISIN | INE792Z01011 |
Sirca Paints IPO comprises a total issue size of 48,69,600 shares. The net offer to the public is 46,25,600 shares, after excluding 2,44,000 shares allotted on a firm basis. Of the Net offer 22,98,400 (49.69%) are allocated to QIB, 6,99,200 (15.12%) allocated to NII 16,28,000 (35.20%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 22,98,400 | 49.69% | 47.20% |
| − Anchor Investor Shares Offered | 13,70,400 | 28.14% | |
| − QIB (Ex. Anchor) Shares Offered | 9,28,000 | 19.06% | |
| NII (HNI) Shares Offered | 6,99,200 | 15.12% | 14.36% |
| Retail Shares Offered | 16,28,000 | 35.20% | 33.43% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,44,000 | 5.01% | |
| Total Shares Offered | 48,69,600 | 100.00% | 100.00% |
Investors can bid for a minimum of 800 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹1,28,000 |
| Retail (Max) | 1 | 800 | ₹1,28,000 |
| HNI (Min) | 2 | 1,600 | ₹2,56,000 |
Incorporated in 2017, Delhi based Sirca Paints India Limited is a company engaged in marketing and trading/distributor of paints and allied products. It is the first Company to launch wood filler in India and opened its wholly owned branches in Mumbai and Chennai.
Sirca procures the products majorly from SIRCA SPA ITALY through Import and sells them in India through its Distributors. In addition, the Company also procures the products (Thinner, Abrasives and Buffing Cream) from other suppliers based in India. Except for Thinner and Abrasives which are purchased from domestic
suppliers, all other 100% Purchases are made from Outside India and the products which are purchased from domestic suppliers and sold out in India Only.
Sirca Paints has entered into a Distributorship Contract with SIRCA SPA ITALY wherein the Company got the Exclusive Right to promote the sale of PU & Metal Coating under the trademark
SIRCA in the territory of India, Sri Lanka, Bangladesh and Nepal with a minimum turnover of EURO 4,300,000 (Four Million three hundred thousand) and EURO 4,800,000 (Four million eight hundred thousand) to be achieved in the year 2018 and 2019 respectively. It has entered into a Manufacturing License Agreement with SIRCA S.P.A. Italy for manufacturing the following products in India, under the mark "SIRCA".
- Paints NC;
- Paints AC;
- Thinner;
- Polyurethane Products.
The company has 128 employees on its payroll.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To finance the expenditure of Site/Plant Development and Purchase of Plant and Machinery | 33.20 |
| 2 | To part finance working capital requirements of the Company; | 25.00 |
| 3 | To meet General corporate purposes | 13.99 |
The Sirca Paints IPO is subscribed 8.32 times on May 22, 2018 5:00:00 PM (Day 5). The public issue subscribed 6.44 times in the retail category, [.] times in the QIB category, and 9.69 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 9.69 | 23,12,800 | 2,24,10,400 |
| Retail | 6.44 | 23,12,800 | 1,49,04,800 |
| Total | 8.32 | 46,25,600 | 3,84,71,200 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees, Underwriting Fees selling commissions, brokerages, Payment to other intermediaries such as Legal Advisors, Registrars etc. | |
| 2 | Market Making Fees for three years | 0.07 |
| 3 | Printing & Stationery, Distribution, Postage, etc. | 0.03 |
| 4 | Advertisement & Marketing Expenses | 0.40 |
| 5 | Regulatory & other expenses | 0.04 |
| 6 | Miscellaneous Expenses | 0.15 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹160.00 |
| Open | ₹162.00 |
| Low | ₹157.00 |
| High | ₹165.00 |
| Last Trade | ₹164.80 |
Lead Manager Reports
Sirca Paints IPO is a SME IPO of 48,69,600 equity shares of the face value of ₹10 aggregating up to ₹78 Crores. The issue is priced at ₹160 per share. The minimum order quantity is 800.
The IPO opens on Wed, May 16, 2018, and closes on Tue, May 22, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sirca Paints IPO using UPI as a payment gateway. Zerodha customers can apply in Sirca Paints IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sirca Paints IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sirca Paints IPO opens on Wed, May 16, 2018 and closes on Tue, May 22, 2018.
Sirca Paints IPO lot size is 800, and the minimum amount required for application is ₹1,28,000.
You can apply in Sirca Paints IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sirca Paints IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Sirca Paints IPO allotment status.
The Sirca Paints IPO listing date is on Wed, May 30, 2018.
