Sirca Paints IPO Listing on BSE: Shares of Sirca Paints India Limited debuted on BSE today, December 12. The company was already is listed on NSE.
As per details available on BSE website, the stock opened at Rs 699 apiece. On the NSE, the stock jumped more than 4 per cent in early deals. At 10:45, the counter quoted Rs 714 apiece on NSE.
Sirca Paints India Limited was incorporated in 2017. The Delhi-based company is engaged in marketing and distributing paints and allied products.
Anil Singhvi’s Strategy December 12: Day support zone on Nifty is 18400-18450 & Bank Nifty is 43375-43500
Sirca Paints went public in 2018. It had fixed a price band of Rs 151-160 per share for its initial public offering through which it raised Rs 78 crore.
The company utilised the proceeds to finance the expenditure of plant development, purchase of plant and machinery and meet working capital requirements.
SIRCA Paints India Ltd. (SPIL) started its trading activities by importing Polyurethane Polish (PU) from Italy and wall paints, abrasives from Korea and selling them in India. It became the first Indian company to launch wood filler in India through its two branches at Chennai and Mumbai.
Currently, it is in marketing and trading/distribution of paints and allied products. Except paints it purchases other products such as thinner, abrasive etc. from domestic suppliers. It imports paints majorly from SIRCA SPA Italy and sells in India.
The company in the September quarter reported a total income from operations of Rs 72.92 crores and a net profit of Rs 14.42 crores.
Click here to get more updates on Stock markets I Zee Business Live
