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indigo paints ipo: Indigo Paints IPO subscribed nearly 7 times on Day 2

Analysts said that while the asking valuations look demanding, one can subscribe to the issue, citing the paint maker's improving performance and scope for the market share expansion.

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Indigo Paints IPO kicks off: Can this issue deliver solid returns?

Indigo Paints IPO kicks off: Can this issue deliver solid returns?
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Indigo Paints' public offer includes a fresh issue stocks aggregating to Rs 300 crore.
Indigo Paints IPO kicks off: Issue subscribed 1.9 times on day 1, HNIs portion fully booked
NEW DELHI: Indigo Paints' initial public offer (IPO) opened for subscription on Wednesday. The IPO has come at a time when the offering of IRFC is already under way, and the one of Home First Finance is all set to hit the market on Thursday.
The Indigo Paints IPO is being priced at Rs 1,488-1,490 and comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares. Ahead of its IPO, the Sequoia Capital-backed paints maker raised Rs 348 crore from 25 anchor investors at Rs 1,490 per share.

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indigo paints ipo: Indigo Paints IPO subscribed 8% within first 15 minutes

By 10:15 am, the issue received bids for 4,17,240 shares, representing 8 per cent of the issue size of 55,18,402 shares.

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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 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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Sequoia Capital-backed Indigo Paints ₹1,000 crore IPO opens on January 20

The company has appointed Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities as the book running lead managers to the issue.
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The proceeds of the issue will be used for expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings.
The Pune-based firm is the fifth-largest company in the Indian decorative paints segment in terms of revenue for fiscal year 2020. It has three manufacturing facilities located in Rajasthan, Kerala and Tamil Nadu.
HDFC Securities in an earlier IPO note said that making inroads into the paints industry with a small number of firms remains a herculean task, given strong distribution moats of the top few. “Against this backdrop, Indigo Paints (founded in 2000) has been consistently chipping away market share within the ecosystem.”

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