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Indigo Paints IPO is a book built issue of Rs 1,176.00 crores. The issue comprises of fresh issue of Rs 300.00 crore and offer for sale of 0.58 crore shares.
Indigo Paints IPO bidding started from January 20, 2021 and ended on January 22, 2021. The allotment for Indigo Paints IPO was finalized on Thursday, January 28, 2021. The shares got listed on BSE, NSE on February 2, 2021.
Indigo Paints IPO price band is set at ₹1488 to ₹1490 per share. The minimum lot size for an application is 10 Shares. The minimum amount of investment required by retail investors is ₹14,900.
Edelweiss Financial Services Ltd, ICICI Securities Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the Indigo Paints IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Indigo Paints IPO RHP for detailed information.
| IPO Date | January 20, 2021 to January 22, 2021 |
| Listing Date | February 2, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹1488 to ₹1490 per share |
| Lot Size | 10 Shares |
| Total Issue Size | [.] shares (aggregating up to ₹1,176.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹300.00 Cr) |
| Offer for Sale | 5,840,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Indigo Paints IPO offers 5,518,402 shares. 1,556,690 (28.21%) to QIB, 1,167,514 (21.16%) to NII, 2,724,198 (49.37%) to RII, 70,000 (1.27%) to employees. 272,419 RIIs will receive minimum 10 shares and (sNII) and (bNII) will receive minimum 140 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 1,556,690 (28.21%) | NA |
| NII (HNI) Shares Offered | 1,167,514 (21.16%) | |
| Retail Shares Offered | 2,724,198 (49.37%) | 272,419 |
| Employee Shares Offered | 70,000 (1.27%) | NA |
| Total Shares Offered | 5,518,402 (100%) |
Indigo Paints IPO opens on January 20, 2021, and closes on January 22, 2021.
| IPO Open Date | Wednesday, January 20, 2021 |
| IPO Close Date | Friday, January 22, 2021 |
| Basis of Allotment | Thursday, January 28, 2021 |
| Initiation of Refunds | Friday, January 29, 2021 |
| Credit of Shares to Demat | Monday, February 1, 2021 |
| Listing Date | Tuesday, February 2, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 22, 2021 |
Investors can bid for a minimum of 10 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 10 | ₹14,900 |
| Retail (Max) | 13 | 130 | ₹193,700 |
| Lot Size Calculator | |||
Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited are the promoters of the company.
| Share Holding Pre Issue | 60.05% |
| Share Holding Post Issue | 54% |
Indigo Paints is one of the fastest-growing paint companies in India and in terms of revenue, it is the 5th largest company in the decorative paint industry. The company is engaged in manufacturing different types of decorative paints like enamels, emulsions, wood coatings, primers, distempers, putties, and cement paints.
It is the first company that started manufacturing certain differentiated products like Metallic Emulsions, Bright Ceiling Coat Emulsions, Tile Coat Emulsions, Dirtproof & Waterproof Exterior Laminate, Floor Coat Emulsions, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel. The sales from these differentiated products are continuously growing as it was 26.68% in 2018 increased to 28.62% in fiscal 2020.
Indigo Paints has a strong market network with dealers in Tier 1, Tier 2, and Metros as well. It has 3 manufacturing facilities situated in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu). It is further looking to expand its manufacturing capacities at Pudukkottai to manufacture water-based paints.
Company Strengths
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 30-Sept-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 4,112.91 | 4,219.59 | 3,731.83 | 2,973.94 | |
| Total Revenue | 2,602.43 | 6,264.36 | 5,372.62 | 4,031.05 | |
| Profit After Tax | 272.05 | 478.15 | 268.70 | 128.62 | |
The net proceed from the Indigo Paints IPO will be used against following objectives.
[Dilip Davda] On prima facie issue is priced aggressively compared to its listed peers. With the planned expansion, lowering debt and other cost control measures, the company is confident of maintaining the growth levels which is mirroring in the pricing of the IPO. Considering these and the growth prospects in light of affordable housing push to meet AVAS for all by 2022 target of the Government, investors may consider an investment with a long term perspective. Read detail review...
The Indigo Paints IPO is subscribed 117.02 times on January 22, 2021 5:00:00 AM. The public issue subscribed 15.93 times in the retail category, 189.57 times in the QIB category, and 263.05 times in the NII category. Check Day by Day Subscription Details (Live Status)
Application Wise IPO Subscription (Retail): 3021267 times
| Category | Subscription (times) |
|---|---|
| QIB | 189.57 |
| NII | 263.05 |
| Retail | 15.93 |
| Employee | 2.50 |
| Total | 117.02 |
| Listing Date | February 2, 2021 |
| BSE Script Code | 543258 |
| NSE Symbol | INDIGOPNTS |
| ISIN | INE09VQ01012 |
| Final Issue Price | ₹1490 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹1,490.00 |
| ₹2,607.50 |
| ₹2,428.20 |
| ₹3,129.00 |
| ₹3,118.65 |
| NSE |
|---|
| ₹1,490.00 |
| ₹2,607.50 |
| ₹2,436.05 |
| ₹3,129.00 |
| ₹3,117.15 |
Indigo Paints Limited
Indigo Tower, Street-5, Pallod Farm-2
Baner Road, Pune 411 045
Phone: 91 20 6681 4300
Email: secretarial@indigopaints.com
Website: http://www.indigopaints.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: indigopaints.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Indigo Paints IPO is a main-board IPO of [.] equity shares of the face value of ₹10 aggregating up to ₹1,176.00 Crores. The issue is priced at ₹1488 to ₹1490 per share. The minimum order quantity is 10 Shares.
The IPO opens on January 20, 2021, and closes on January 22, 2021.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Indigo Paints IPO using UPI as a payment gateway. Zerodha customers can apply in Indigo Paints IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Indigo Paints IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Indigo Paints IPO opens on January 20, 2021 and closes on January 22, 2021.
Indigo Paints IPO lot size is 10 Shares, and the minimum amount required is ₹14,900.
You can apply in Indigo Paints IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Indigo Paints IPO will be done on Thursday, January 28, 2021, and the allotted shares will be credited to your demat account by Monday, February 1, 2021. Check the Indigo Paints IPO allotment status.
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