2 upcoming SME IPO in April 2023

A G Universal IPO

A G Universal IPO is an (SME) IPO comprising 1,454,000 equity shares with a face value of Rs. 10, totalling up to Rs. 8.72 Crores. The price per share for the issue is ₹60 with a minimum order size of 2000 shares. The IPO is scheduled to open on April 11, 2023, and close on April 13, 2023. The registrar of the IPO is Skyline Financial Services Private Ltd. The shares are to be listed on NSE SME. The basis of allotment for the A G Universal IPO will be finalised on April 19, 2023. A G Universal IPO listing date has not yet been confirmed, although it is anticipated to take place on April 24, 2023. A G Universal IPO reservation is made up of 50% of the net issue for the retail category and 50% of the net issue for others. Ms. Bharti Gupta and Mr. Amit Gupta are the promoters of the company.

A G Universal Ltd was incorporated in 2008 and serves the industrial market as a provider of MS Tubes, GI Pipes, and Hollow Sections. Stainless steel pipes, mild steel pipes, ERW black pipes, GI pipes, hollow sections, uPVC pipes, cPVC pipes, TMT bars, wire rods, MS wire, CR coils, and HR coils are among the company’s product offerings. Surya Roshni Ltd, Jindal Supreme (India) Private Limited, Swastik Pipe Limited, Ravindra Tubes Private Limited, SKS Ispat & Power Ltd, among others, are among A G Universal’s clientele.

A R Ramachandran, Co-founder & Trainer -Tips2trades said “Even though the financial numbers like sales and profit growth look robust with extremely low PE valuations as well, would A G Universal Limited be able to sustain this kind of outperformance in the future looks difficult. Hence investors can subscribe to this IPO issue for listing gains only and then wait for a correction to buy at lower prices in the future.”

Retina Paints IPO

Retina Paints IPO is an SME IPO of 3,700,000 equity shares of a face value of ₹10 aggregating up to an issue size of ₹11.10 Crores. The price per share for the issue is ₹30 with a minimum order size of 4000 shares. The IPO is scheduled to begin on April 19 and end on April 24, 2023. The registrar for the IPO is Bigshare Services Pvt Ltd. 

The shares are to be listed on the BSE SME. The basis of allotment for Retina Paints IPO will be finalised on April 27, 2023, and although the exact date of Retina Paints IPO listing has not yet been determined, it is currently projected to take place on May 3, 2023. Retina Paints IPO reservation is made up of 50% of the retail quota and 50% of others. Retina Paints Ltd, a company founded in 2010, produces decorative paints such as distempers, wall care products, primers, emulsions, etc. The company is headquartered in Hyderabad, Telangana.

A R Ramachandran, Co-founder & Trainer -Tips2trades said “Retina Paints Limited PE ratio is extremely high given that its sales and profit growth have just shown marginal improvement only over the last few quarters. Also, a disappointing ROE makes subscribing to this IPO a risky proposition and hence investors can avoid this subscription and wait for much lower levels to consider buying for better returns.”