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Sirca Paints India Limited IPO (Sirca Paints IPO) Detail

May 16, 2018 - May 22, 2018

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.

Company Promoters:

The Promoters of the Company are Mr. Sanjay Agarwal, Mr. Apoorv Agarwal, and Mr. Gurjit Singh Bains.

Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Millions)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 6,131.25 4,507.57 3,341.52 2,910.05 2,173.65
Total Revenue 8,434.17 7,266.09 6,976.85 5,408.00 3,402.29
Profit After Tax 1,370.34 727.62 617.88 197.11 50.40

Objects of the Issue:

The Objects of the Issue are-

1. To finance the expenditure of Site/Plant Development and Purchase of Plant and Machinery
2. To part finance incremental working capital requirements of the Company;
3. To meet General corporate purposes;
4. To meet the expenses of the Issue.

Issue Detail:

  »»  Issue Open: May 16, 2018 - May 22, 2018
  »»  Issue Type: Book Built Issue IPO
  »»  Issue Size: 4,870,000 Equity Shares of Rs 10 aggregating up to Rs 77.92 Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 151 - Rs 160 Per Equity Share
  »»  Market Lot: 800 Shares
  »»  Minimum Order Quantity: 800 Shares
  »»  Listing At: NSE SME

Sirca Paints IPO Reviews / Recommendations:

Dilip Davda - Other

 

Sirca Paints IPO Subscription Status / Live Bidding Status

Sirca Paints IPO Subscription Status tells if Sirca Paints IPO subscribed or not. Investors can bid for IPO shares between 10 AM to 5 PM when public issue is open. Sirca Paints IPO oversubscribed if bids are received for more shares than what is offered by the company.

Sirca Paints IPO - How Many Times Subscribed?
Number of Bids Received
As on Date & TimeQIBNIIRIIOthersTotal
Shares Offered / Reserved02,312,8002,312,800244,0004,869,600
Day 1 - May 16, 2018 17:00 IST019,200413,600-432,800
Day 2 - May 17, 2018 17:00 IST0542,400824,000-1,366,400
Day 3 - May 18, 2018 17:00 IST0604,8001,476,800-2,081,600
Day 4 - May 21, 2018 17:00 IST0818,4004,331,200-5,149,600
Day 5 - May 22, 2018 17:00 IST1,156,00022,410,40014,904,800-38,471,200

Sirca Paints IPO Prospectus

Sirca Paints IPO Rating

182
3.9
Rating:Rated 3.9 stars

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Sirca Paints IPO News Alerts

  1. Tuesday, May 22, 2018 12:00:00 AM
    Sirca Paints IPO Closes on May 22, 2018
  2. Wednesday, May 16, 2018 12:00:00 AM
    Sirca Paints IPO Opens on May 16, 2018

Company Contact Information

Sirca Paints India Limited
504, NDM-II,
Netaji Subhash Place Wazirpur,
Pitampura, New Delhi-110034
Phone: + 91-11-42083083
Fax:
Email: admin@sircapaints.com
Website: http://www.sircapaints.com

Sirca Paints IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968
Email: einward.ris@karvy.com
Website: http://karisma.karvy.com

Sirca Paints IPO Lead Manager(s)

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Sirca Paints IPO Review / Comments

avatar
87. anujsme  May 26, 2018 11:51:32 PM IST I Like It. 2 | Report Abuse Reply
there are huge sellers in grey market and there are no takers even at 160 rs.
get ready for huge selling pressure on listing day. it can drift to 150 level .

dont look to buy even at that price. much lower level expected as 100-110 in few days time.
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87.2. Sinewave  May 27, 2018 8:10:49 PM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
Dont post false information.
avatar
87.3. anujsme  May 28, 2018 12:20:23 AM IST I Like It. | Report Abuse
Lagta hai tumhe bahut saare allot hogaye hai.
first day nikal jaana. go and check no buyer in grey market.
no new buyers at even 160 rs.
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86. ANKITDEVIL  May 27, 2018 3:41:15 AM IST I Like It. | Report Abuse Reply
I want sell 2 lot at -1200 per lot any one interested
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86.1. Sinewave  May 27, 2018 8:06:28 PM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
Please provide ur contact detail. I want and will contact U.

Regards
avatar
86.2. Sinewave  May 27, 2018 8:09:43 PM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
U posted it during mid- night. It seems that U r under panic situation. Don't worry dear. It is not going to list in discount. I also allotted two out of sixteen applications. Either be confident or give ur contact datails.

Regards.
avatar
85. Hiteshji  May 27, 2018 8:22:25 AM IST I Like It. 1 | Report Abuse Reply
Allotments are out. All the best..congratulations who got the allotments. It will gv you definitely return.
avatar
84. ZFV  May 26, 2018 11:01:03 PM IST I Like It. 3 | Report Abuse Reply
20000 Interest Charge per Lot as HNI will get 1 lot for every 32 lots applied.
Investment of 4000000 for 1 lot of 800 and interest charge if calculated @6%(min) 20000 interest.
No Chance of going down below issue price
avatar
84.1. anujsme  May 26, 2018 11:50:14 PM IST I Like It. 1 | Report Abuse
Even innovator facade had more subscriotion went below issue price after opening positive. infact it went to 69 rs from 72 rs in few minutes.

in that case interest of HNI was more . so dont think that matters now.
avatar
83. Ipo dare to dare  May 26, 2018 6:02:58 PM IST I Like It. | Report Abuse Reply
1/2
Happy :-)
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82. IPOANALYSIS  May 26, 2018 1:59:24 PM IST I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Well my concern is I don't like this company at all
High crude price will impact its profits anyway.it will use money from IPO proceeds to start manufacturing which will take too much time to show any impacts.its a navigant issue and any navigant issue can't retain price for longer time. Even if it list at 5 pc premium it's a failure issue considering lottery system. Do remember even five core with confirm allotment give 5 pc gains. I like five core business much better than this company. Anyway best of luck to alotees and hope they can get some returns and get out from bad LM issues.
avatar
82.1. IPOANALYSIS  May 26, 2018 3:03:54 PM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Only hope is anchor investor but even edelweiss was not able to control price of five core and it went below issue price.
avatar
81. RAJAKUMAR  May 26, 2018 12:17:48 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
0/7 I got one allotment. Listing on wed. Already IPOANALYSIS stated it will list at par or discount. I am not worried about listing. But I am worried about Innovators at what rate my shares are auction on monday and how my trades are setttled.
avatar
81.1. Splendid  May 26, 2018 1:34:32 PM IST I Like It. 1 | Report Abuse
@Rajkumar

I dont think it will list in discount..
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80. AKMP  May 26, 2018 12:04:49 PM IST I Like It. | Report Abuse Reply
ALLOTMENT OUT
CHECK ON KARVY
avatar
79. RAJAKUMAR  May 20, 2018 1:22:48 PM IST I Like It. 4 | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Qib 9,28,000 shares available. For Hni 6,99,200 shares. For Retail 16,28,000 shares.
Qib Nil
Hni 0.86 times
Retail 0.91 times.
Hni quota is only 7 lakh shares so it may be subscribe above 10 times. If HNI quota subscribes above 10 times then we will consider for subscribing Sirca paints without considering LM, Fundamentals, and so on.
avatar
79.8. IPOANALYSIS  May 25, 2018 10:57:11 AM IST I Like It. 1 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
True

Infact if you check old sme are performing better than newly listed sme and new primary market sme doesn't have anything great
i remember earlier sme were priced too cheap and left a lot on table.nowdays no new sme is leaving anything that is the reason
if you check innovators facade is expensive as well

so go for sme only if they have priced it well else avoid
i would rather wait and watch and not apply any new sme. there is good chance you can buy from secondary market when they get listed at discount
go for only fundamental sound companies
avatar
79.9. SONMAYA  May 25, 2018 11:31:48 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts)
3/5
avatar
78. TheLearner  May 25, 2018 3:43:12 PM IST I Like It. 1 | Report Abuse Reply
NO BUYER IN GREY MARKET. PANIC AMONG THOSE WHO HAVE BOUGHT APPLICATIONS IN GREY MARKET. WILL BE SURPRISING IF IT LIST ABOVE 160 AND SUSTAIN THERE
avatar
78.1. anujsme  May 25, 2018 4:10:18 PM IST I Like It. 1 | Report Abuse
learner this has happened before only.
many have already sold their application in grey market and thats why they applied

this is navigant issue and navigant and company is laughing their way
I dont know abt listing but record says navigant is a very bad LM and the stock price have fallen

i said befor navigant cant manager small issues what will happen to its large issue
new LM bhaijee we all know fate of most of new LM like sarveshwar foods etc.

hope those who get allotted manage to get out on listing day with something

kehte hai na bheed chal mein mat phaso.
people dont use their brain but just apply blindly after checking subscription
avatar
77. Ravi kiritkumar adeshara  May 25, 2018 12:36:50 PM IST I Like It. | Report Abuse Reply
allotment or listing....kab he....??????
avatar
76. anujsme  May 23, 2018 3:12:25 PM IST I Like It. 1 | Report Abuse Reply
those who are jumping the guns thinking that subscription is a criteria for gains are absolutely wrong.
now 35 out of 40 last sme listed are below issue price.
mind you they were too heavily subscribed

e2e did good because of business and mahickra being panthomath and small issue

those stock sirca is neither of above.

if anyone think LM does not matter for sme they are highly mistaken or new to sme and dont carefully monitor each and every sme

lets meet on listing day and see how much bumper listing gains people who are alloted with lottery in this one makes.
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75. INVESTIGATOR  May 22, 2018 3:28:09 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
Avoiding this Issue
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75.7. IPOANALYSIS  May 23, 2018 11:45:15 AM IST I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Nice investigator.u made correct decision to not apply sirca and congrats for the allotment of innovator.
avatar
75.8. INVESTIGATOR  May 23, 2018 1:14:08 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
@ RAJAKUMAR
Thanks again for your valued suggestion.

@ IPOANALYSIS
Lot of Thanks for your kind Wishes
avatar
74. RAJAKUMAR  May 22, 2018 4:16:21 PM IST I Like It. 1 | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
At 4.10 pm
Qib 1.25
Hni 32
Retail 8 times
Total 11.25 times.
As i stated earlier it surprised all. Good subscription. It will list give 7 to 10% gain on listing.
avatar
74.1. Small Investor  May 22, 2018 5:22:32 PM IST I Like It. | Report Abuse
Sir Soft tech eng m kya kre share upar jayega ya niche aayega pls advise i have on lot @ 84.10
avatar
74.2. RAJAKUMAR  May 23, 2018 10:55:10 AM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
Dear Small Investor
Sir I am applying IPO for listing gain only. I am not interested in secondary market. In main line IPO we can judge the counter and can tell which counter will perform in long run but sme counter liquidity dried after some days of listing and we cannot judge 1000 counter of which share will perform.
avatar
73. IPOANALYSIS  May 23, 2018 12:43:19 AM IST I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (900+ Posts, 700+ Likes)
Lets see the listing. i dont apply in bad business model.
crude is high and paint companies will have most impact.

many high subscription fail to retain price for long time . LM is very important for long term success.

there is no great reason to apply in this ipo. lot of funding happens where in people apply to get listing gain and sell.what if there is huge selling pressure.
lets see

also if u r talking of 5 pc gain its a failure for the issue.
out of 10 only 1 will get means 10 pc allotment . if u r holding for that amount of lottery system for 5 pc gain better to buy indostar capital from secondary market which is safer and more gains than 5 pc and was also confirmed allotment. lol

avatar
72. Hiteshji  May 22, 2018 7:21:28 PM IST I Like It. | Report Abuse Reply
As i told you earlier, this is share mkt. Those who buy shares or apply shares its on own risks. Risks are awarded. You will get definet return. Others are just came watch and go. The mkt is our not for others. 👍👍
avatar
71. andro  May 22, 2018 5:48:29 PM IST I Like It. | Report Abuse Reply
great subscription numbers.
should be a good listing of 5-10% premium.
the issue is a large one (75 crs) so lets see if the premium sustains as a lot of leveraged HNI positions will come for selling on first day.
but fingers crossed :)
avatar
70. v for vendetta  May 22, 2018 5:23:41 PM IST I Like It. | Report Abuse Reply
Got busy in some stuffs and completely forgot to monitor this. Saw at 5:00 pm only. Very good subscription figure, discount listing for sure would not be there. Missed to apply it :(
avatar
69. Sinewave  May 22, 2018 4:45:06 PM IST I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
QIBs Subscription 1.25X
HNI Subscription 32.05X
Retail Subscription 8.34X
Total Subscription 10.71X
avatar
68. Sinewave  May 22, 2018 4:25:45 PM IST I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (500+ Posts, 200+ Likes)
*Sirca Paints India Ltd*

Updated on : 4.00 P.M

QIB's : 1.25x

NII's : 32.05x

RII's : 7.94x
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