Retina Paints IPO subscription status:
The initial public offering (IPO) of Retina Paints Ltd opened for subscription on 19th April 2023 and will close on 24th April 2023. The public issue, which is set to list on BSE SME exchange, has been oversubscribed 2.31 times as per the latest Retina Paints IPO subscription status. The retail portion of the IPO has also been oversubscribed 2.22 times. The grey market sentiments have been optimistic as well, with shares of Retina Paints Ltd trading at a premium of ₹4 today.
Retina Paints IPO GMP on the rise:
Retina Paints IPO grey market premium (GMP) has increased by Re 1 today to reach ₹4, according to market observers. The rise in Retina Paints IPO GMP can be attributed to positive sentiments on Dalal Street, especially the strong recovery from early morning losses during Friday’s deals. Grey market sentiments have turned bullish on the issue after strong response from investors, resulting in full subscription of the public issue well before its closing date.
Interpreting Retina Paints IPO GMP:
Market observers have stated that Retina Paints IPO GMP of ₹4 today suggests that the grey market expects the listing price of the IPO to be around ₹34, which is over 13% higher than its fixed price band of ₹30 per share. This indicates that the public issue may list at a double-digit percentage premium. However, it is important to note that grey market premium is not a reliable indicator of the success or failure of an IPO. Investors should analyze the company’s financials to gain a better understanding of its fundamentals.
Retina Paints IPO oversubscribed:
The Retina Paints IPO has been oversubscribed 2.31 times after three days of bidding, with the retail portion of the IPO being oversubscribed 2.31 times and the other portion being oversubscribed 2.34 times. The public issue, which is set to list on BSE SME exchange, has received a strong response from investors, resulting in oversubscription well before its closing date.
About Retina Paints:
Retina Paints is a Hyderabad-based company established in 2010 that specializes in the manufacturing and sale of decorative paints, such as Distempers, Wall Care Products, Primers, Emulsions, and more, through a B2B model. The company offers a diversified product range that includes both oil-based and water-based products. Its oil-based products are primarily used for coloring woods, iron, and other materials, while the water-based colors are suitable for both residential and commercial buildings. Recently, Retina Paints has introduced a tinting machine in its facility to enhance its product offerings. The company has a strong distributor network spanning across Andhra Pradesh, Telangana, and Odisha.
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