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Indigo Paints IPO opens today: Should you subscribe to the issue?

Indigo Paints IPO opens today: Should you subscribe to the issue?
As per company's DHRP, its main objective for the issue is to meet the upcoming capital expenditure requirement for manufacturing facility expansion at Pudukkottai, Tamil Nadu, to purchase tinting machines and gyroshakers and repay all or certain borrowings
BusinessToday.In | January 20, 2021 | Updated 12:50 IST
American venture capital firm Sequoia Capital-backed firm garnered Rs 347.9 crore from 25 anchor investors ahead of the share sale
The three-day initial public offering (IPO) of Indigo Paints, that opened today is priced at Rs 1,488 to Rs 1,490 per equity share. Shares can be bought with a minimum order quantity of 10 shares. The IPO closes on January 22, 2021. A retail-individual investor can apply for up to 13 lots (130 shares or Rs 193,700).

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indigo paints ipo: Indigo Paints IPO: Analyst views, peer comparisons, management commentaries

NEW DELHI: The initial public offering (IPO) of Indigo Paints is ready to hit the market on Wednesday amid a frenzy over its unlisted shares in the grey market. Analysts said while the asking valuation looks demanding, one can subscribe to the issue on the paintmaker’s improving performance and scope for market share expansion.
The company was least impacted by Covid-19 compared with peers, due to its presence in smaller towns, they said, and suggested that ad spends as a percentage of revenues may fall going forward, driving further profitability.
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.

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Indigo Paints fixes IPO price band at Rs 1,480-1,490; grey market premium @ 60%

Synopsis
According to dealers, the scrip was demanding a premium of Rs 830-850 apiece in the unofficial market earlier on Thursday.
The issue will open for subscription on January 20 and run till January 22.
NEW DELHI: Sequoia Capital-backed Indigo Paints on Thursday fixed the price band for its forthcoming Rs 1,000-crore IPO at Rs 1,488-1,490 apiece. According to dealers in the unlisted market, the scrip was commanding a grey market premium of 55-60 per cent at the time of writing this report.
Dealers said the scrip was demanding a premium of Rs 830-850 apiece in the unofficial market earlier on Thursday.

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Indigo Paints IPO opens for subscription on January 20: Key details

Indigo Paints IPO opens for subscription on January 20: Key details
Indigo Paints IPO opens for subscription on January 20: Key details
Indigo Paints had filed preliminary papers for the IPO with the market regulator in November last year. The Indigo Paints IPO will open for subscription on January 20 and close two days later on January 22. Here are some key details about the Indigo Paints IPO:
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UPDATED: January 13, 2021 15:04 IST
Indigo Paints plans to raise approximately Rs 1,000 crore through the IPO from the capital markets. (Photo: Reuters/Representational image)
Sequoia Capital-backed Indigo Paints is all set to launch an Initial Public Offering (IPO) after it recently received a nod from market watchdog Securities and Exchange Board of India (Sebi).

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