Indigo

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

  • Large product portfolio with differentiated products.
  • Well-proven, and consistent growth track record.
  • Strong brand equity.
  • Extensive network distribution.
  • Strategically located manufacturing facilities.

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.

Company Financials:

Summary of financial Information (Restated Consolidated)
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

Objects of the Issue:

The net proceed from the Indigo Paints IPO will be used against following objectives.

  • To meet the capital expenditure requirements for manufacturing facility expansion at Pudukkottai, Tamil Nadu
  • To purchase tinting machines and gyroshakers.
  • To repay all or certain borrowings.
  • To meet general corporate purposes.
IPO Opening Date Jan 20, 2021
IPO Closing Date Jan 22, 2021
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹1488 to ₹1490 per equity share
Market Lot 10 Shares
Min Order Quantity 10 Shares
Listing At BSE, NSE
Issue Size[.] Eq Shares of ₹10
(aggregating up to ₹1,176.00 Cr)
Fresh Issue[.] Eq Shares of ₹10
(aggregating up to ₹300.00 Cr)
Offer for Sale5,840,000 Eq Shares of ₹10
(aggregating up to ₹[.] Cr)

Indigo Paints IPO Tentative Timetable

The Indigo Paints IPO open date is Jan 20, 2021, and the close date is Jan 22, 2021. The issue may list on Feb 2, 2021.

IPO Open Date Jan 20, 2021
IPO Close Date Jan 22, 2021
Basis of Allotment Date Jan 28, 2021
Initiation of Refunds Jan 29, 2021
Credit of Shares to Demat Account Feb 1, 2021
IPO Listing Date Feb 2, 2021

Indigo Paints IPO Lot Size

The Indigo Paints IPO market 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 (Cut-off)
Minimum 1 10 ₹14,900
Maximum 13 130 ₹193,700

Indigo Paints IPO Promoter Holding

Pre Issue Share Holding 60.05%
Post Issue Share Holding 54%

Indigo Paints IPO Subscription Status (Bidding Detail)

The Indigo Paints IPO is subscribed 117.02x times on Jan 22, 2021 05:00. The public issue subscribed 15.93x in the retail category, 189.57x in the QIB category, and 263.05x in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryIPO Subscription
QIB

189.57x

NII

263.05x

RII

15.93x

Employee

2.50x

Total

117.02x

* Application wise IPO Subscription in Retail: 3,021,267

Rating:Rated

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 equity share
Face Value ₹10 per equity share
.
IPO 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/

Indigo Paints IPO FAQs

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 equity 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the Indigo Paints IPO row and click the Bid button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

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 10 Shares.

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 dont 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.

The Indigo Paints IPO listing date is on Tuesday, February 2, 2021.

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