India’s fifth largest decorative paint company Indigo Paints IPO will hit the market on January 20, 2021 and close on January 22, 2021, Indigo Paints sets IPO price band at Rs 1,480 and Rs 1,500 per share. MS Dhoni is the brand ambassador of Indigo Paints. The public issue consists a fresh issue of Rs 300 crore and an offer for sale of 58,40,000 equity shares by investors Sequoia Capital India Investments IV and SCI Investments V, and the promoters Hemant Jalan.
About Indigo Paints
The fifth largest decorative paint company in the country, Indigo Paints started in the year 2000, Indigo Paints had a modest beginning. It started out with the manufacture of lower-end Cement paints, and gradually expanded its range to cover most segments of water-based paints like Exterior Emulsions, Interior Emulsions, Distempers, Primers, etc. From an early age, the Company spread its footprints across the country, with the rapid expansion of its reach across India. Today the Company stands out as one of the strongest contenders in the Indian paint industry, being rated as an innovative paint manufacturer, which keeps coming out with unique products never before offered in the country.
MS Dhoni is the brand ambassador. Indigo is among the top-5 paint companies in the country whose business is growing rapidly. The company sells its paints under the Indigo brand name. Its distribution network is spread across 27 states and 7 union territories. Former Indian cricketer Mahendra Singh Dhoni is its brand ambassador.
Indigo Paints is the fifth-largest company in the decorative paint industry in India in terms of its revenue from operations for FY20. As on 30 September, the firm owned, operated three manufacturing facilities in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu). These facilities had a total installed production capacity of 101,903 kilolitres per annum for liquid paints and 93,118 tonnes per annum for putties and powder paints.
It is a big wide distribution network in 27 states primarily in Kerala, Bihar, Jharkhand, Tamil Nadu, West Bengal, Uttar Pradesh, Chhattisgarh and Odisha.
Indigo Paints IPO Details
Check here details of Indigo Paints IPO date, IPO offer price, lot size, subscription, allotment and listings date, grey market price and other details like the company’s background and more.
|Indigo Paints IPO Details||Dates & Details|
|Issue Opens on||20th January 2021|
|Issue Closes on||22nd January 2021|
|Issue Price||Rs. 1488 – 1490|
|Minimum Lot Size||10 shares|
|Maximum Lot Size||130 shares|
|Minimum Investment||Rs. 14,900|
|Maximum Investment||Rs. 193700|
|Issue Size||Rs. 1170 cr ($158 million)|
|Market Cap||Rs. 7087 cr ($957 million)|
|Listing at||BSE & NSE|
|Equity Shares Offered (Fresh)||20,13,422 (Rs.300 cr)|
|Equity Shares Offered (OFS)||58,40,000 (Rs. 870 cr)|
|Total Equity Shares Offered (Fresh + OFS)||78,53,422 ( Rs.1170 cr)|
|Equity Shares Prior||4,55,55,575|
|Equity Shares after the issue||4,75,68,997|
Indigo Paints IPO Objects
The company will use the IPO proceeds to expand the manufacturing unit at Pudukkottai in Tamil Nadu and for general corporate operations. The Pune-based company had three manufacturing units up to September quarter, located in Rajasthan, Kerala and Tamil Nadu.
Indigo Paints Promoters And Management:
Indigo Paints MD & CEO Hemant Jalan, Chief Financial Officer Chetan Humane and Chief Operating Officer Suresh Babu are the promoters of the company.
Indigo Paints IPO Launch Date
Indigo Paints IPO (initial public offering) subscription opens on January 20, 2021 and close on January 22, 2021. ; The anchor investors’ portion will be open for subscription on January 19, Indigo Paints said in a virtual press conference.
Indigo Paints IPO Price
Indigo Paints sets IPO price band at Rs 1,480 and Rs 1,500 per share. The IPO comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital, through its two funds — SCI Investments IV and SCI Investments V — and promoter Hemant Jalan.
Indigo Paints IPO Lot Size
Indigo Paints IPO minimum bid (lot size) will be 10 shares of Rs 14,900. A retail-individual investor can apply maximum investment up to 13 lots of 130 shares of Indigo Paints at Rs 193,700 at The face value of the equity share is Rs 10 each.
Indigo Paints IPO Grey market premium (GMP)
Indigo Paints shares were commanding a premium of Rs 850-860, up 57 per cent from IPO price in the grey market. Earlier this week, Indigo Paints shares were trading with Rs 820-830 premium in the grey market.
Indigo Paints Company Financial
Indigo Paints reported a net profit of Rs 27.21 crore at the end of September 2020. The revenue from the operation was at Rs 259.42 crore. During the financial year 2020, the company posted a net profit of Rs 47.82 crore and revenue of Rs 624.79 crore. Indigo Paints lags behind Asian paints and Berger Paints in profitability with a RONW (Return on Net Worth) of 24.27 per cent, whereas the other two posted RONW of 27.39 per cent and 24.66 per cent, respectively as on 31st March 2020.
Indigo Paints IPO Subscription Status Today
Indigo Paints IPO Subscription Status will update on January 20, 2021
Indigo Paints Stock Listed on NSE & BSE
Indigo Paints IPO equity shares after the completion of a public issue will be listed on the National Stock Exchange and on BSE Limited.
Indigo Paints IPO BRLM
Indigo Paints IPO book running lead managers (BRLM) appointed for the public issue, The IPO of Indigo Paints will be managed by Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities.
Indigo Paints IPO Listing Date
The Indigo Paints IPO listing date is not yet announced. The tentative date of Indigo Paints IPO listing is Feb 2, 2021.
Indigo Paints IPO Tentative Timetable
|Basis of Allotment:||28 January 2021|
|Refunds:||29 January 2021|
|Credit to Demat Account:||01 February 2021|
|Listing Date:||02 February 2021|
Indigo Paints IPO Allotment Status Date
Indigo Paints IPO allotment status will be available on Link Intime India Private Ltd website. The company will finalize ipo allotment on 28th January 2021, while the refunds or unblocking of funds from ASBA accounts which did not get any share in allotment will take place on 29th January 2021. Shares will be credited to accounts of eligible investors on 1st February 2021 and the trading in shares will commence from 2nd February 2021.
Indigo Paints IPO FAQs
What is the Indigo Paints IPO Open Date?
The Indigo Paints IPO opens on Jan 20, 2021 and closes on Jan 22, 2021.
What is the lot size of Indigo Paints IPO?
Indigo Paints IPO lot size is 10 Shares and the minimum order quantity is 10 Shares.
How to Apply the Indigo Paints IPO Online and Offline?
You can apply Indigo Paints IPO via ASBA online via your bank account. You can apply ASBA online via UPI through your stock brokers. You can also apply offline via your stock brokers by filling up the offline form.
How much is Indigo Paints IPO GMP Today?
Indigo Paints IPO Grey market premium as on today is ₹840-850, Kostak ₹850 & Subject to Sauda is ₹7500