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 | 1,000 Shares |
| Total Issue Size | 4,22,000 shares (aggregating up to ₹ 5.11 Cr) |
| Fresh Issue | 4,22,000 shares (aggregating up to ₹ 5.11 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 9,30,000 |
| Share holding post issue | 13,52,000 |
| Market Maker portion | 66,000 shares |
About 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.
Associated Coaters IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the net offer |
| Other Shares Offered | 50% of the net offer |
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.
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.
Associated Coaters Limited IPO Financial Information
Latest Revenue
232.96
₹ Crore
Profit After Tax
33.22
₹ Crore
Net Worth
103.57
₹ Crore
Total Borrowing
34.90
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | 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 | |||||||||
Associated Coaters Limited Key Performance Indicator
| KPI | Values |
|---|---|
| - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.84 | 4.91 |
| P/E (x) | 20.72 | 24.62 |
Frequently Asked Questions
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Competitive Strengths
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Associated Coaters Limited IPO Timeline
| 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹121,000 |
| Retail (Max) | 1 | 1000 | ₹121,000 |
| HNI (Min) | 2 | 2000 | ₹242,000 |