The IPO of Indigo Paints has subscribed 4.6 times on Thursday for the second day.
The IPO of paint company Indigo Paints has subscribed 4.6 times on Thursday for the second day. The company’s IPO will close on January 22. Retail investors shop fiercely.
- January 21, 2021, 7:43 PM IST
The portion reserved for Qualified Institutional Buyers (QIB) in the IPO was subscribed 48 per cent. At the same time, non-institutional investors subscribed 4 times. Significantly, on the first day, it was subscribed 1.90 times on Wednesday. The promoters and investors of the company are selling 58,40,000 equity shares. Talking about the existing investors of Indigo Paints, 20.05 lakh shares are being sold by Sequoia Capital Investment IV, 21.65 lakh equity shares SCI Investments V and 16.7 lakh equity shares by promoter Hemant Jalan. Its share prices have jumped up to 50 percent in the gray market. It is believed that after listing of shares, investors can get good returns.
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70 thousand shares have been reserved for employees The proposal to sell up to 58,40,000 shares worth Rs 300 crore is included through an IPO. The company’s 70,000 equity shares are reserved for employees’ subscriptions. Employees will get a discount of Rs 148 per share on Indigo Paints shares. The price band of Indigo Paints has been fixed at Rs 1488-1490 per share. Any investor has to bid for at least one lot. There will be 10 shares in a lot. According to this price band, the company can raise from 1,168.99 crore to 1,170.16 crore.
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You can invest in IPO till January 22
Retail investors can invest in this IPO till 22 January 2021. Meanwhile, the premium of Indigo Paints in the gray market is increasing, due to which it is speculated that this IPO may have a great listing in the stock market. Indigo Paints is the second IPO of this year. Since the announcement of the IPO by the company, these IPOs were shown to be trading at a premium rate of 50 percent more than the fixed issue price in the gray market. Its premium in the gray market on January 15 was around 840-850 rupees. This means that on that day it was selling for between Rs 2,340-2,330.