The Indigo Paints IPO saw a very strong subscription and was subscribed by 117 times. The allotment is expected to be finalized on 28th January 2021. One can check the Indigo Paints IPO allotment status on the website of the official registrar, Link Intime and BSE.
As per the IPO prospectus, the refund process would be initiated on Friday. The credit of shares to demat accounts will be done on Monday and the stock is likely to be listed by Tuesday, the 2nd of February, 2021.
Indigo Paints – Company Profile
Indigo Paints is one of the fastest growing paint companies in India, and is headquartered in Pune. The company is engaged in manufacturing different types of decorative paints like enamels, emulsions, wood coatings, primers, distempers, putties, and cement paints.
It is the first company that started manufacturing certain differentiated products like Metallic Emulsions, Bright Ceiling Coat Emulsions, Tile Coat Emulsions, Dirtproof & Waterproof Exterior Laminate, Floor Coat Emulsions, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel. The sales from these differentiated products are continuously growing as it was 26.68% in 2018 increased to 28.62% in fiscal 2020.
Indigo Paints IPO
The IPO opened on January 20th 2021 and closeed on January 22nd 2021. The Indigo Paints IPO consists of a fresh issue of ₹300 crores. The IPO price band is ₹1488 to ₹1490 and the lot size is 10 shares. At the upper end of the price band, a retail investor can apply for up to 13 lots. The value of one lot at the upper end of the price band is ₹14,900. Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities are the book running lead managers to the issue.
The latest grey market premium for the Indigo Paints IPO stands at 60% over the issue price. Whether this sustains and translates to listing gains despite the fall in the markets is something to be seen.
Along with the Indigo Paints IPO allotment status, the allotment status of the IFRC IPO can be checked here.