IPO Details

Bidding Dates

19 Apr '23 - 24 Apr '23

Minimum Investment

To be announced

Price Range


Maximum Investment


Retail Discount

To be announced

Issue Size

₹11.10 crore

Investor category and sub category

To be announced

IPO Dates

Important dates with respect to IPO allotment and listing

Opening Date

Apr 19, 2023

Closing Date

Apr 24, 2023

Basis of Allotment

Apr 27, 2023

Initiation of Refunds

Apr 28, 2023

Credit of Shares to Demat

May 2, 2023

Listing Date

May 3, 2023

UPI Mandate Expiry Date

Apr 24, 2023

Retina Paints IPO Subscription Details


Day 1Apr 19, 2023

1.74 0.21 0.98

Day 2Apr 20, 2023

2.13 1.00 1.56

Day 3Apr 21, 2023

2.34 2.22 2.31

Day 4Apr 24, 2023

6.10 10.41 8.29

Retina Paints IPO Subscription Status live

Investor Category Subscription (Times)
Qualified Institutions Buyer [.]
Non-Institutional Buyers 6.10
Retail Investors 10.41
Employees [.]
Others [.]
Total 8.29

About Retina Paints Ltd. IPO

Retina paints manufacturers and sells decorative paints, including Distempers, Wall Care Products, Primers, Emulsions, etc. in a B2B model.

Retina Paints has a distributor network spread across Andhra Pradesh, Telangana, and Odisha. The company offers a diversified product suite with oil-based and water-based products. The oil-based products are used in colouring woods, iron etc., and the water-based colours are used in residential and commercial buildings. It has recently introduced a tinting machine in its facility. 

The company started in 2010 and has its headquarters in Hyderabad, Telangana. 

Details of Retina Paints Ltd. IPO

Retina Paints IPO is a new issue IPO worth Rs. 11.10 crore. The offer is a fixed issue initial public offering with the share price fixed at Rs. 30 per share. 

Retina Paints IPO opens for subscription on April 19, 2023. Retail investors can bid for one lot of 4000 shares.

Retina Paints Ltd. IPO Objective

The company proposes to utilise the net proceeds received from the fresh issues for the following.

  • To meet working capital requirements
  • Funding general corporate purposes

Should you invest in Retina Paints Ltd.?

  • The company offers a diversified product suite of oil and water-based paints, wall care putty, distempers, emulsions, and primers. 
  • Retina Paints is run by experienced promoters. 
  • It has a vast distributor network in Andhra Pradesh and Telangana with an expansion plan to the other south Indian states.

Competitive Peers

Other players in the domain recognised by Retina Paints Ltd. are Rathi Bars Ltd., Vaswani Industries Ltd., and Adishakti Loha and Ispat Ltd.

IPO Financials

Particulars Year ending on November 30, 2022 Year ending on March 31, 2021 Year ending on March 31, 2020
Revenue from Operations 527.67 638.28 685.76
Profit After Tax (PAT) 39.99 11.33 4.55
EBITDA 86.89 62.99 50.11
EPS 2.09 0.72 0.63
  As of November 30, 2022 As of March 31, 2022 As of March 31, 2021
Current Asset 2,074.77 1,162.77 986.71
Current Liability 2,074.77 1,162.77 986.71

Know before investing


  1. It has an established business model supported by a robust network of distributors.

  2. It has an expanding product suite and market.

  3. It has a strong marketing team to enhance brand recall and recognition.


  1. The Indian paint industry is dominated by a few major players.

  2. There are outstanding legal proceedings involving company promoters, which might impact operational and financial performance.

  3. The company currently underutilises its production capacity.

  • How to Apply in IPO
  • How to Check IPO Allotment Status

Login to Angel One App / Website & click on IPO

Select desired IPO & tap on "Apply"

Enter UPI ID, set quantity/price & submit

Accept mandate on the UPI app to complete the process

Login to Angel One App / Website

Choose IPO section on Home Page

Click IPO Orders

Chose the IPO application you want to view the status for

Retina Paints IPO FAQs

What is Retina Paints Ltd. IPO?

Retina Paints Ltd. Ltd. IPO worth Rs.11.10 crore comprises 3,700,000 fresh equity shares.

Bidding for the IPO opens on April 19, 2023.

When will Retina Paints Ltd. IPO allotment be available?

The IPO shares of Retina Paints Ltd. will be allotted on April 27, 2023.

What will be the Retina Paints Ltd. IPO lot size?

One lot of Retina Paints Ltd. IPO contains 4000 shares.

When will Retina Paints Ltd. IPO open for subscription?

The bidding window opens on April 19, 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot.

When will Retina Paints Ltd. list on exchanges?

Retina Paints Ltd. IPO will list on NSE SME on April 24, 2023.

How to check the allotment status of Retina Paints Ltd. IPO?

Login to the Angel One app and enter OTP sent on your registered mobile number to validate. 

To check the allotment status, enter your application number, DP ID, and PAN number into the app.

What would be the listing gains on the Retina Paints Ltd. IPO?

You can’t calculate the listing gain before the IPO listing date. You can learn about the listing gain of Retina Paints Ltd. on May 3, 2023.

I have finished the application process for Retina Paints Ltd. IPO, but the funds are not yet debited. What is the reason?

The bank initially will only block the amount in your account, meaning you will not have access to the fund. The money will be debited when the shares are allotted or unblock the amount after the UPI mandate expiry date.

How to approve the UPI mandate request for Retina Paints Ltd. IPO?

Login to your UPI handle to approve the payment mandate and complete the IPO application process.

Can I submit more than one application for the public issue of Retina Paints Ltd. using one PAN?

SEBI mandates investors to submit only one application against one PAN card.

What is the minimum order quantity for Retina Paints Ltd. IPO?

The minimum order quantity is one lot with 4000 shares.