Indigo Paints IPO Subscription Status:
Indigo Paints’ initial public offer (IPO) was subscribed 117 times on Friday, the third and final day of the bidding process.
The issue received bids for 64,57,90,130 shares at the end of the third day, which marked a total subscription of 117.02 times the issue size of 55,18,402 shares. The IPO was subscribed 1.9 times by the end of the first day, and 7.4 times on the following day.
The initial public offering of Indigo Paints was subscribed 6.97 times so far on January 21, the second day of bidding. The issue has received bids for 3,84,68,080 shares so far, which is 6.97 times the issue size of 55,18,402 shares.
The IPO was subscribed 1.89 times on the end of first day of bidding. It received a demand for 1,04,67,410 shares across both the stock exchanges against 55,18,402 shares on offer.
The initial public offering of Indigo Paints, the fifth largest decorative paints company in India, has been subscribed 6.97 times on its second day of the bidding so far, January 21.
Indigo Paints’ initial public offer (IPO) opened for subscription on Wednesday, Jainuary 20 and Indigo Paints IPO will close on January 22. The price band for the issue has been fixed at Rs 1,488-1,490 per share.
The Indigo Paints IPO is being priced at Rs 1,488-1,490 and comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares. Post issue, the shareholding of promoters will fall to 54% from 60%. Ahead of its IPO, the Sequoia Capital-backed paints maker raised Rs 348 crore from 25 anchor investors at Rs 1,490 per share.
Indigo Paints manufactures a range of decorative paints and has an extensive distribution network across the country.
Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities are the lead managers to the Indigo Paints IPO while Link Intime India is the registrar to the issue.
The share allocation in Indigo Paints IPO is likely to be finalised on 28 January while listing may happen on 2nd February, brokerages say.
The Rs 4,633-crore Indian Railway Finance Corporation (IRFC) initial public offer (IPO) has been subscribed 3.42 times on the final day of the three-day bidding process.