Retina Paints Ltd Share Price – BSE

Paints/Varnish, Small Cap

Retina Paints will hold a meeting of the Board of Directors of the Company on 14 November 2023.

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Retina Paints announced that the 13th Annual General Meeting (AGM) of the company will be held on 29 September 2023.

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Retina Paints will hold a meeting of the Board of Directors of the Company on 29 May 2023.

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The scrip was listed at Rs 29.05, at a discount of 3.17% to the issue price. The scrip hit a high of Rs 30.50 and a low of Rs 28. About 9.76 lakh shares of the company changed hands at the counter.

The initial public offer (IPO) of Retina Paints was subscribed 8.29 times. The issue opened for bidding on 19 April 2023 and it closed on 24 April 2023. The issue was priced at Rs 30 per share.

The IPO comprised of a fresh issue of upto 37,00,000 shares. The promoter and promoter group shareholding diluted to 59.28% post IPO from 80.70% pre-IPO.

The company intends to utilize the net proceeds from the issue for working capital requirement and general corporate purposes.

Retina Paints is engaged in manufacturing decorative paints like distempers, primers, wall care products, emulsions, etc and sell them to different distributors. The company works on B2B business model. The company sells their products to the dealers and distributors and then they sell to the end customers. As of December 2022, the company has approximately 21 employees.

The company recorded a revenue from operations of Rs 5.27 crore and net profit of Rs 0.39 crore for the period ended on 30 November 2022.

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