Indigo Paints IPO Price Band: If you want to earn money amid the boom in the IPO market, then get ready. In the year 2021 too, many companies are ready to launch IPOs. Now Indigo Paints is also bringing its IPO in the month of January itself. The company has fixed the price band for this. Apart from this, full details have been given from share lot. The country’s fifth-largest decorative paint company Indigo Paints has said that its IPO will open from 20 to 22 January 2021. This will be the second IPO in the new year. Before this, Indian Railway Finance Corporation i.e. IRFC is also going to bring its IPO on January 18.
Plan to raise Rs 300 crore
Indigo Paints plans to raise Rs 300 crore through its IPO. The company will use this fund to expand the manufacturing unit of Pudukkottai in Tamil Nadu. Apart from this, a separate plant will be set up at a cost of Rs 150 crore. A portion of the fund will be used for repayment.
Price band Rs 1480-1490
Indigo Paints has fixed the price band for its IPO at Rs 1480–1490; It will open for investment on January 20 and will close on January 22.
At least how much investment
Indigo Paints IPO will have a lot of 10 shares. That means investors have to invest at least 10 shares or 14900 rupees. The maximum can be invested in its multiplier.
Sales of 58.40 lakh shares
The promoters and investors of the company will sell 58.40 lakh shares. The offer for sale (OFS) includes 20.05 lakh shares sold by Sekoya Capital Investment IV, 21.65 lakh equity shares SCI Investments V and 16.7 lakh equity shares by promoter Hemant Jalan. 70,000 equity shares of the company will be reserved for employees’ subscriptions
About the company
Indigo is among the top paint companies in the country. . The company sells its paints under the Indigo brand name. The business of the company is continuously increasing. The company’s distribution network is spread across 27 states. Former Indian cricketer Mahendra Singh Dhoni is its brand ambassador. The lead managers for the company’s IPO are Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities.