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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.
| IPO Date | Jan 20, 2021 to Jan 22, 2021 |
| Listing Date | Tuesday, February 2, 2021 |
| Face Value | ₹10 per share |
| Price | ₹1488 to ₹1490 per share |
| Lot Size | 10 Shares |
| Issue Size | [.] shares of ₹10 (aggregating up to ₹1,176.00 Cr) |
| Fresh Issue | [.] shares of ₹10 (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 |
| Company Promoters | Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited are the promoters of the company. |
Indigo Paints IPO opens on Jan 20, 2021, and closes on Jan 22, 2021. The Indigo Paints IPO bid date is from Jan 20, 2021 10.00 A.M. to Jan 22, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Jan 20, 2021 |
| Closing Date | Jan 22, 2021 |
| Basis of Allotment | Jan 28, 2021 |
| Initiation of Refunds | Jan 29, 2021 |
| Credit of Shares to Demat | Feb 1, 2021 |
| Listing Date | Feb 2, 2021 |
The Indigo Paints IPO lot size is 10 shares. A retail-individual investor can apply for up to 13 lots (130 shares or ₹193,700).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 10 | ₹14,900 |
| Retail (Max) | 13 | 130 | ₹193,700 |
| Pre Issue Share Holding | 60.05% |
| Post Issue Share Holding | 54% |
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 Jan 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 | Tuesday, February 2, 2021 |
| BSE Script Code | 543258 |
| NSE Symbol | INDIGOPNTS |
| Listing In | B Group of Securities |
| ISIN | INE09VQ01012 |
| IPO Price | ₹1490 per share |
| Face Value | ₹10 per share |
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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/
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 13 | 0 | 0 |
| Members | 0 | 0 | 0 |
IPO Broker Recommendations
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 Jan 20, 2021, and closes on Jan 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 Jan 20, 2021 and closes on Jan 22, 2021.
Indigo Paints IPO lot size is 10 Shares and the minimum order quantity is .
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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Indigo Paints IPO will be done on Jan 28, 2021, and the allotted shares will be credited to your demat account by Feb 1, 2021. Check the Indigo Paints IPO allotment status.
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