May 30, 2024 - June 3, 2024
RHP
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 is open for subscription on May 30, 2024 and close today June 3, 2024. The allotment for the Associated Coaters IPO is expected to be finalized on Tuesday, June 4, 2024. Associated Coaters IPO will list on BSE SME with tentative listing date fixed as Thursday, June 6, 2024.
Associated Coaters IPO price is ₹121 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹121,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹242,000.
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. The market maker for Associated Coaters IPO is Gretex Share Broking.
Refer to Associated Coaters IPO RHP for detailed information.
Associated Coaters IPO Details
| IPO Date | May 30, 2024 to June 3, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹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 Gretex Share Broking |
Associated Coaters IPO Reservation
Associated Coaters IPO offers 422,000 shares. 178,000 (42.18%) to NII, 178,000 (42.18%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 66,000 (15.64%) |
| Other Shares Offered | 178,000 (42.18%) |
| Retail Shares Offered | 178,000 (42.18%) |
| Total Shares Offered | 422,000 (100%) |
Associated Coaters IPO Timeline (Tentative Schedule)
Associated Coaters IPO opens on May 30, 2024, and closes on June 3, 2024.
| IPO Open Date | Thursday, May 30, 2024 |
| IPO Close Date | Monday, June 3, 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 IPO Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. Thebelow table depicts the minimum and maximum investment by retail investors and HNI in terms ofshares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹121,000 |
| Retail (Max) | 1 | 1000 | ₹121,000 |
| HNI (Min) | 2 | 2,000 | ₹242,000 |
| Lot Size Calculator | |||
Associated Coaters IPO Promoter Holding
The promoters of the company are Jagjit Singh Dhillon and Navneet Kaur.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 68.79% |
About Associated Coaters Limited
Founded in 2017, Associated Coaters Limited provides services for pre-treatment and powder coating of aluminium 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 aluminium 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.
On November 30, 2023, the company had 15 dedicated employees in various roles.
Associated Coaters Limited Financial Information (Restated)
Associated Coaters Limited's revenue increased by 157.47% and profit after tax (PAT) rose by 297.22% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 364.74 | 296.12 | 201.81 | 2.72 |
| Revenue | 397.00 | 358.94 | 139.41 | |
| Profit After Tax | 75.77 | 54.30 | 13.67 | -0.14 |
| Net Worth | 141.11 | 70.34 | 16.05 | 2.38 |
| Reserves and Surplus | 48.11 | 67.34 | 13.05 | -0.62 |
| Total Borrowing | 9.90 | 9.90 | 10.10 | 0.20 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Associated Coaters IPO is Rs 16.36 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 71.66% |
| ROCE | 68.30% |
| Debt/Equity | 0.07 |
| RoNW | 53.69% |
| P/BV | 7.98 |
| PAT Margin (%) | 19.08 |
Check Associated Coaters IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.84 | 3.2 |
| P/E (x) | 20.72 | 37.78 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latestFY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FYearnings of December 31, 2024 that is available in RHP.
Objects of the Issue (Associated Coaters IPO Objectives)
The Company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- Funding capital expenditure towards installation of plant & machinery in the existing premises
- Working Capital Requirements
- General Corporate Purposes.
Associated Coaters IPO Review (Avoid)
[Dilip Davda] The company is engaged in the business of powder coating of aluminium extrusions used for 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 longer gestation period for migration. IPO expenses of 22.8% indicates fully structure model of the IPO. There is no harm in skipping this fully priced issue. Read detail review...
Associated Coaters IPO Subscription Status (Bidding Detail)
The Associated Coaters IPO is subscribed 371.14 times on June 3, 2024 6:19:05 PM. The public issue subscribed 494.99 times in the retail category, times in the QIB category, and 239.63 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 239.63 |
| Retail | 494.99 |
| Total | 371.14 |
Total Application : 131,588 (739.26 times)
Associated Coaters IPO Prospectus
Associated Coaters IPO Rating
2
3.0
Rating:
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Associated Coaters Limited Contact Details
Associated Coaters Limited
Ashuti Khanberia Maheshtala LP
20/83/46, Kolkata, Vivekanandapur
, South 24 Parganas, , Thakurpukur Mahestola
Phone: +91 98304 37701
Email: info@associatedcoaters.in
Website: https://associatedcoaters.in/
Associated Coaters IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Associated Coaters IPO - Buy or Not
Associated Coaters IPO Recommendation Summary
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 0 | 0 | 1 |
| Members | 1 | 0 | 0 |
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Associated Coaters IPO Lead Manager(s)
- Gretex Corporate Services Limited (Past IPO Performance)
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- IPO Lead Manager Performance Summary
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Associated Coaters IPO FAQs
Associated Coaters IPO is a SME IPO of 422,000 equity shares of the face value of ₹10 aggregating up to ₹5.11 Crores. The issue is priced at ₹121 per share. The minimum order quantity is 1000 Shares.
The IPO opens on May 30, 2024, and closes on June 3, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Associated Coaters IPO using UPI as a payment gateway. Zerodha customers can apply in Associated Coaters IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Associated Coaters IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the 'Associated Coaters IPO' row and click the 'Bid' button.
- Enter your UPI ID, Quantity, and Price.
- ‘Submit’ IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
The Associated Coaters IPO opens on May 30, 2024 and closes on June 3, 2024.
Associated Coaters IPO lot size is 1000 Shares, and the minimum amount required is ₹121,000.
You can apply in Associated Coaters IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Associated Coaters IPO will be done on Tuesday, June 4, 2024, and the allotted shares will be credited to your demat account by Wednesday, June 5, 2024. Check the Associated Coaters IPO allotment status.
The Associated Coaters IPO listing date is not yet announced. The tentative date of Associated Coaters IPO listing is Thursday, June 6, 2024.
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