Indigo Paints Listing Today: Indigo Paints has made a big entry in the stock market. The company’s stock was listed on BSE with a premium of around 75 per cent. The upper price band for the IPO was Rs 1490, while on BSE it was listed at Rs 2607 with an increase of Rs 1117.50. The IPO of Indigo Paints received a strong response from investors and was subscribed 117 times. At the same time, in the gray market, it was shown to trade with a 60 percent premium. After which it was believed that there could be a bumper listing of the stock. The issue has also benefited from the rally that has come in the market after the budget.
Was subscribed 117 times
The IPO of Indigo Paints was subscribed 117 times. The IPO opened on January 20 and closed on January 22. Reserve Porson received 16 times bids for retail investors. Whereas the reserve portion for qualified institute buyers was subscribed nearly 190 times. At the same time, the reserve portion was subscribed 263 times for the non-institutional investors’ category. Also, the portions reserved for the employees of the company were also subscribed 2.3 times. The company had already raised Rs 348 crore from anchor investors.
Indigo Paints had fixed the price band for its IPO at Rs 1480-1490. The issue was opened for investment from January 20 to January 22. Indigo Paints IPO had a lot of 10 shares. That is, investors had to invest at least 10 shares or Rs 14900.
About the company
Indigo Paints is among the top paint companies in the country. The company sells its paints under the Indigo brand name. Lorge Product Portfolio is the company’s strength. Track record is better. Brand equity is strong. Network distribution is also strong. The company’s distribution network is spread across 27 states. In the quarter ended September 30, the company’s total assets were close to Rs 412 crore.
Financial of the company is better. In the quarter ended September 30, the company’s total assets were close to Rs 412 crore. At the same time, revenue was 260 crores and profit was more than 27 crores. The lead managers for the company’s IPO are Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities.