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Indigo Paints makes solid debut, lists at 75% premium over issue price

Shares of Indigo Paints made a solid debut on the bourses on Tuesday, listing at Rs 2,607.50, a 75 per cent premium against issue price of Rs 1,490 on the National Stock Exchange (NSE) and BSE. The stock surged to Rs 3,129, up 110 per cent against issue price on the BSE and NSE, exchange data shows.
At close, Indigo Paints was at Rs 3,118.6, up 109 per cent against issue price on the BSE.
The attractive pricing, relative to its peers, along with its higher growth potential had attracted investors towards the issue. The initial public offering (IPO) of Indigo Paints had garnered 117 times subscription, generating bids worth Rs 96,222 crore. The qualified institutional buyer (QIB) portion of the issue was subscribed 190 times, while the high networth individual or HNI segment was subscribed 263 times. The retail and employee portions were subscribed 16 times and 2.5 times, respectively.

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Indigo Paints IPO opens today: Check price band, closing date and more - Should you subscribe?

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Indigo Paints IPO opens today
Sequoia Capital-backed Indigo Paints initial public offering (IPO) will open for public subscription on Wednesday (January 20). The company has fixed a price band of Rs 1,488-1,490 a share for its initial share-sale. The three-day IPO will conclude on January 22.
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.
Indigo Paints anchor investors
The anchor investors' portion opened for subscription on January 19. The company said that it mopped up Rs 348 crore from anchor investors ahead of its initial share-sale. A total of 23,35,020 shares have been allotted to 25 anchor investors at Rs 1,490 apiece, which is the upper end of the price band. At this price, the company mobilised Rs 348 crore.

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