Earning opportunity on January 20
The company is planning to launch an IPO of about Rs 1000 crore. The price band of the IPO has also been decided by the company. This IPO will be open for subscription from January 20 to January 22, 2021.
- January 14, 2021, 12:51 PM IST
The price band of Indigo Paints has been fixed at Rs 1480-1490. Apart from this, a lot will be of 10 shares. Investors will have to bid for at least one lot.
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Know what is the company’s plan->> IPO will be open for subscription from January 20 to January 22, 2021.
>> The company will issue shares for Rs 300 crore
>> 58.40 lakh shares will be issued through Offer for Sale (OFS)
>> The IPO of Indigo Paints will be managed by Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities.
>> The company will use the proceeds from the IPO to expand the manufacturing unit at Pudukkottai in Tamil Nadu.
Which company has how many shares?
Sequoia Capital and SCI Investments hold a large stake in Indigo Paints. Sequoia Capital holds 85.34 lakh equity shares of the company, out of which the company will sell around 20 lakh shares. Apart from this, SCI Investments is also planning to sell 21.65 lakh shares. SCI Investments holds 92.08 lakh shares.
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Big Decorative Paint Company of India
Let us tell you that Pune-based Indigo Paints is the fifth largest decorative paint company in India in terms of operational revenue. Indigo Paints had 3 manufacturing units till September quarter which are located in Rajasthan, Kerala and Tamil Nadu.