Indigo Paints IPO worth Rs 1,170 crore opens today: Should you subscribe? Indigo Paints IPO: Many brokerage houses recommended investing in the public issue given the company's fast growth in the last decade compared to peers Sunil Shankar Matkar January 20, 2021 / 05:12 PM IST Indigo Paints, the fifth largest decorative paint company in India, opens its initial public offering for subscription on January 20 with a price band at Rs 1,488-1,490 per share. The IPO comprises fresh issue of Rs 300 crore, and an offer for sale of 58,40,000 equity shares by promoter (Hemant Jalan) and investors (Investors Sequoia Capital India Investments IV and SCI Investments V).