Indigo Paints is coming out with an IPO on Jan 20, 2021 till Jan 22, 2021 at a price band of Rs.1488 to Rs.1490 per equity share with the face value of Rs.10 per equity share. The IPO is expected to be listed on both NSE and BSE on Feb 02, 2021. The minimum bid size is 10 shares or in multiple thereof.
Indigo Paints being the the fifth-largest decorative paint company in India, is one of the fastest-growing paint companies in India in terms of revenue. The company is into manufacturing of different types of decorative paints like enamels, emulsions, wood coatings, primers, distempers, putties, and cement paints.
Indigo Paints is the pioneer in introducing various differentiated products like Metallic Emulsions, Bright Ceiling Coat Emulsions, Tile Coat Emulsions, Dirt proof & Waterproof Exterior Laminate, Floor Coat Emulsions, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel. Indigo Paints has a vast network with dealers across India including Tier 1, Tier 2 Cities, and Metros as well. It has 3 manufacturing facilities situated in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu). It is further looking to expand its manufacturing capacities at Pudukkottai to manufacture water-based paints. Also the sales from these differentiated products are continuously growing as it was 26.68% in 2018 increased to 28.62% in fiscal 2020.
Company Financials:
Summary of financial Information (Restated Consolidated
| Particulars | For the year/period ended (₹ in million) | ||||
|---|---|---|---|---|---|
| 30-Sept-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 4,112.91 | 4,219.59 | 3,731.83 | 2,973.94 | |
| Total Revenue | 2,602.43 | 6,264.36 | 5,372.62 | 4,031.05 | |
| Profit After Tax | 272.05 | 478.15 | 268.70 | 128.62 | |
The public issue of Indigo Paints comprises a fresh issue of Rs 300 crore and an offer for sale of 58.40 lakh equity shares by promoters and investors. The offer for sale consists of 20.05 lakh equity shares by Sequoia Capital India Investments IV, 21.65 lakh equity shares by SCI Investments V and 16.7 lakh equity shares by promoter Hemant Jalan.
Promoters of Indigo Paints
- Hemant Jalan
- Anita Jalan
- Parag Jalan
- Kamala Prasad Jalan
- Tara Devi Jalan
- Halogen Chemicals Private Limited
Important Points about Indigo Paints IPO
| IPO Opening Date | Jan 20, 2021 |
| IPO Closing Date | Jan 22, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹1488 to ₹1490 per equity share |
| Market Lot | 10 Shares |
| Min Order Quantity | 10 Shares |
| Listing At | BSE, NSE |
| Issue Size | [.] Eq Shares of ₹10 (aggregating up to ₹1,176.00 Cr) |
| Fresh Issue | [.] Eq Shares of ₹10 (aggregating up to ₹300.00 Cr) |
| Offer for Sale | 5,840,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
Important Dates of Indigo Paints IPO
| IPO Open Date | Jan 20, 2021 |
| IPO Close Date | Jan 22, 2021 |
| Basis of Allotment Date | Jan 28, 2021 |
| Initiation of Refunds | Jan 29, 2021 |
| Credit of Shares to Demat Account | Feb 1, 2021 |
| IPO Listing Date | Feb 2, 2021 |
