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28 Feb, 2026
Associated Coaters Limited IPO
Associated Coaters is engaged in the business of providing services by way of pre-treatment and powder coating of aluminum extrusions in the architectural and Real Estate Industry. The process begins with a comprehensive cleaning, where the targeted surface of aluminum extrusions is thoroughly cleansed of any dirt, grease or contaminants that might impede the subsequent coating process. Following this, a strategic chemical solution is applied to enhance the adhesion of the powder coating. This involves the application of an acidic solution for surface etching or the use of a specialized pretreatment agent to optimize surface wettability.
Associated Coaters IPO is a fixed price issue of Rs 5.11 crores. The issue is entirely a fresh issue of 4.22 lakh shares. Associated Coaters IPO opens for subscription on May 30, 2024 and closes on June 3, 2024. The allotment for the Associated Coaters IPO is expected to be finalized on Tuesday, June 4, 2024. Associated Coaters IPO price is ₹121 per share. The minimum lot size for an application is 1000 Shares. Gretex Corporate Services Limited is the book-running lead manager of the Associated Coaters IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Associated Coaters Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Associated Coaters Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | May 30, 2024 to June 3, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹121 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 422,000 shares (aggregating up to ₹5.11 Cr) |
| Fresh Issue | 422,000 shares (aggregating up to ₹5.11 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 930,000 |
| Share holding post issue | 1,352,000 |
| Market Maker portion | 66,000 shares |
Associated Coaters Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Thursday, May 30, 2024 |
| IPO Close Date | Tuesday, June 4, 2024 |
| Basis of Allotment | Tuesday, June 4, 2024 |
| Initiation of Refunds | Wednesday, June 5, 2024 |
| Credit of Shares to Demat | Wednesday, June 5, 2024 |
| Listing Date | Thursday, June 6, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 3, 2024 |
Associated Coaters Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹121,000 |
| Retail (Max) | 1 | 1000 | ₹121,000 |
| HNI (Min) | 2 | 2000 | ₹242,000 |
Associated Coaters IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
Associated Coaters Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 99.98% | - |
Company & Financials
Founded in 2017, Associated Coaters Limited provides services for pre-treatment and powder coating of aluminum extrusions in the architectural and Real Estate Industries. The company's annual capacity is 1,200 metric tons, with an Automatic Coating Plant and a Manual Coating Plant, making us a key player in eastern India for aluminum extrusion coating. The company operates two manual powder coating plants and one fully automatic powder coating plant established in July 2017. The company follows a strong Quality Management System as an ISO 9001:2015-certified organization. Their full immersion pre-treatment process, closely monitored by their chemical supplier, plays a crucial role in maintaining high standards. Combined with the use of architectural-grade super durable powder, they ensure the delivery of top-notch quality.
Competitive Strength:
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Associated Coaters Limited IPO Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 370.71 | 232.96 | 33.22 | 103.57 | - | 34.90 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 296.12 | 358.94 | 54.30 | 70.34 | - | 9.90 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2022 | 201.81 | 139.41 | 13.67 | 16.05 | - | 10.10 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2021 | 2.72 | - | -0.14 | 2.38 | - | 0.20 | ||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| - | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.84 | 4.91 |
| P/E (x) | 20.72 | 24.62 |
Objectives of Associated Coaters IPO
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objectives:
- Funding capital expenditure towards the installation of plant & machinery in the existing premises.
- Working Capital Requirements.
- General Corporate Purposes.
Associated Coaters IPO Review
The company is engaged in the business of powder coating of aluminum extrusions used for the real estate industry. It is operating in a highly competitive and fragmented segment. Based on FY24 annualized super earnings, the issue appears fully priced. Tiny post-IPO equity indicates a longer gestation period for migration. IPO expenses of 22.8% indicates a fully structured model of the IPO. There is no harm in skipping this fully priced issue.
RHP:
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Frequently Asked Questions (FAQs)
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What is Associated Coaters IPO?
Associated Coaters IPO is a BSE SME IPO. They are going to raise ₹5.11 Crores via IPO. The issue is priced at ₹121 per equity share. The IPO is to be listed on BSE.
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When will Associated Coaters IPO?
The IPO is to open on May 30, 2024, for QIB, NII, and Retail Investors.
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What is Associated Coaters IPO Investors Portion?
The investors’ portion for NII is 50%, and Retail is 50%.
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What is Associated Coaters IPO Size?
Associated Coaters IPO size is ₹5.11 crores.
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What is Associated Coaters IPO Price Band?
Associated Coaters IPO Price Band is ₹121 per equity share.
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What is Associated Coaters IPO Minimum and Maximum Lot Size?
The IPO bid is 1000 shares with ₹121,000.
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What is Associated Coaters IPO Allotment Date?
Associated Coaters IPO allotment date is June 4, 2024.
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What is Associated Coaters IPO Listing Date?
Associated Coaters IPO listing date is June 3, 2024. The IPO to list on BSE SME.
