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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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