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Indigo Paints IPO Final Day: Issue Subscribed 11 Times, HNIs Portion Booked 14 Times

Indigo Paints IPO Final Day: Issue Subscribed 11 Times, HNIs Portion Booked 14 Times
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Indigo Paints IPO Worth Rs 1,170 Crore Opens Today: Should You Subscribe?


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).

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Indigo Paints IPO Opens Tomorrow: 10 Key Things You Should Know

Indigo Paints IPO Opens Tomorrow: 10 Key Things You Should Know
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Indigo Paints IPO Price Band, Ranking, Equity Shares, Valuation to Brand Ambassador I Important message for retails investors


Indigo Paints Limited (Indigo) is coming out with an initial public offer (IPO). Indigo Paints IPO consists of a fresh issue of equity shares amounting to Rs 300 cr and an offer for sale of Rs 869 - 870 cr. The price band for the said issue is Rs 1488-1490 per share. At the lower and upper end of the price band, the fresh equity issuance stands at 20.1-20.2 lakh shares. Offer for sale amounts to 58.4 lakh shares.
As far as ranking in the market is concerned, Indigo Paints is the fastest-growing among India’s top five paint companies. It is the fifth largest company in the Indian decorative paints industry with the market share of 2%. The company owns and operates three manufacturing facilities located in Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu). The company manufactures a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints.

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Indigo Paints prices IPO at a discount to peers; only 99 times earnings


Indigo Paints prices IPO at a discount to peers; only 99 times earnings
Lemon Tree Hotels has set a price band at Rs54-56 for shares issued in the Rs1000 crore IPO. Photo: iStockphotoPremium
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Consumer discretionary spends were among the most impacted by the pandemic. But for some reason, the already high valuations of paint stocks have become far more expensive in the past year. That is working in favour of Indigo Paints, which has priced its initial public offering (IPO) at ₹1,488-1,490 apiece.
An analysis by Anand Rathi Securities Ltd showed that at the upper end of the IPO price band, Indigo Paints is valued at 98.5 times its trailing 12-month (TTM) earnings. Its much larger competitors, Asian Paints Ltd and Berger Paints India Ltd, trade at price-to-earnings (PE) multiples of around 114 times and 128 times respectively, the broker said in a report on 16 January.

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Indigo Paints Raises Rs 348 Crore From 25 Anchor Investors Ahead Of IPO


Indigo Paints raises Rs 348 crore from 25 anchor investors ahead of IPO
Among domestic institutions, SBI MF, HDFC MF, ICICI Prudential MF, Nippon MF, Axis MF, Aditya Birla Sun Life and Motilal MF received shares of the company via anchor book.
January 20, 2021 / 05:14 PM IST
American venture capital firm Sequoia Capital-backed Indigo Paints, on January 19, garnered Rs 347.9 crore from 25 anchor investors ahead of its initial public offering (IPO), that opens for subscription on January 20.
The company informed exchanges that it has finalised the allocation of 23,35,020 equity shares to anchor investors, at a price of Rs 1,490 apiece, the higher end of price band.

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Indigo Paints IPO: 10 Key Things You Should Know Before The Issue Opens

Indigo Paints, the fastest growing amongst the top five paint companies in India, sells its products under the brand 'Indigo', through its distribution network across 27 states and seven union territories as of September 2020.

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Indigo Paints To Launch IPO On January 20, Fixes Price Band At Rs 1,480-1,490


Indigo Paints to launch IPO on January 20, fixes price band at Rs 1,488-1,490
The company will utilise funds from its fresh issue for the expansion of the manufacturing facility at Pudukkottai in Tamil Nadu, purchasing tinting machines and gyroshakers and repaying borrowings.
January 15, 2021 / 12:08 PM IST
Indigo Paints, the fifth-largest decorative paint company in India, will open its initial public offering for subscription on January 20. This would be the second IPO in calendar 2021 after Indian Railway Finance Corporation.
The public issue comprises a fresh issue of Rs 300 crore and an offer for sale of 58.40 lakh equity shares by promoters and investors. The offer for sale consists of 20.05 lakh equity shares by Sequoia Capital India Investments IV, 21.65 lakh equity shares by SCI Investments V and 16.7 lakh equity shares by promoter Hemant Jalan.

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Indigo Paints IPO to open on January 20, price band set at Rs 1,488-1,490


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Indigo Paints IPO to open on January 20, price band set at Rs 1,480-1,490
 Sequoia Capital-backed Indigo Paints, on Thursday, said it has fixed a price band of Rs 1,488-1,490 a share for its initial share-sale, which will open for public subscription on January 20.
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.
The three-day initial public offering (IPO) will conclude on January 22. The anchor investors' portion will be open for subscription on January 19, Indigo Paints said in a virtual press conference.

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