Indigo Paints is the second IPO of the year 2021.
The IPO of Indigo Paints Company opened on January 20 and closed on January 22. Its IPO was subscribed 117 times.
- February 2, 2021, 9:19 PM IST
The IPO of Indigo Paints Company opened on January 20 and closed on January 22. Its IPO was subscribed 117 times. The company’s issue was subscribed 15.93 times in retail portions. The share of HNI (high net worth investors) was 263 times and the share of qualified institutional buyers was subscribed 189.57 times. The company offered 55.18 lakh equity shares. The price band of the company’s issue was Rs 1488-1490.
The promoters and investors of the company have sold 58,40,000 equity shares. Talking about the existing investors of Indigo Paints, 20.05 lakh shares were sold by Sequoia Capital Investment IV, 21.65 lakh equity shares by SCI Investments V and 16.7 lakh equity shares by promoter Hemant Jalan. According to the price band, the company has raised from Rs 1,168.99 crore to Rs 1,170.16 crore. Indigo Paints is the second IPO of the year 2021. At the same time, Grasim Industries, the flagship company of Aditya Birla Group, has announced to enter the paints market, despite the price of indigo paints in the gray market was good. Ever since the announcement of the IPO by the company, it was shown to be trading at a premium price of more than 50 percent of the issue price.
Experts also expected listings at 30 to 40 percent higher than the issue price.
It is already believed that after listing of shares, investors can get good returns.
Some brokerage firms were expected to list Indigo Paints at a 30 to 40% premium. Yes Securities had said that the listing of the IPO of the company could be at a premium of 37% from the issue price i.e. around Rs 2050. Aastha Jain of Hem Securities had said that the listing of Indigo Paints can be in the range of 2000 to 2100 rupees.