Siddhika Coatings Ltd is the latest company from the Small and Medium Enterprise (SME) segment to have filed its prospectus with the SEBI for the raising funds from the public. Interested to know about the Siddhika Coatings Ltd IPO details? Continue reading to find out.
About the company
Ever since its incorporation in 2010, Siddhika Coatings Ltd has been a part of the paint and coating manufacturing industry. The company specializes in producing architectural coating supplies. In addition to that, Siddhika Coatings also provides organic and inorganic architectural paint application services and technical-grade functional coating services as well.
The company is a key supplier of SK Kaken Ltd, a Japanese paint and coating manufacturer and its client base includes government entities, real estate developers, and other private entities. Siddhika Coatings is well-known for its exceptional paint quality and has completed hundreds of projects in as many as 11 states.
The revenue and net profit figures of Siddhika Coatings Ltd has been quite consistent through the years, with the company generating around Rs. 295 lakhs as net profit in the financial year 2019-2020.
Siddhika Coatings Ltd IPO details
Here’s a quick look at a few of the key details of the upcoming IPO from Siddhika Coatings Ltd. This includes the Siddhika Coatings Ltd IPO date and the Siddhika Coatings Ltd IPO share price.
Siddhika Coatings Ltd IPO date
According to the prospectus filed for the new IPO from the company, the opening date of the issue has been set as March 24, 2021 and the closing date of the issue has been notified as March 26, 2021.
Siddhika Coatings Ltd IPO issue size
The entire issue of the latest IPO comprises only a fresh issue of around 8,24,000 equity shares. The total value of all the equity shares offered up for sale by the company comes up to around Rs. 4.70 crores.
Siddhika Coatings Ltd IPO share price
The share price for the upcoming IPO has also been announced. The company has set the IPO price at Rs. 57 per equity share.
Siddhika Coatings Ltd IPO listing
The new IPO of the company is slated to be listed on the National Stock Exchange’s EMERGE platform, which is the stock exchange’s dedicated SME platform.
Siddhika Coatings Ltd IPO objectives
The company is looking to use the net proceeds from this latest IPO issue for satisfying its working capital requirements and for other general corporate purposes.
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