Indigo Paints IPO3 min read

There are some interesting IPOs scheduled to be launched in 2021. One such IPO is the Indigo Paints Limited IPO that is being launched on January 20, 2021 (now live on Groww!). Here is all you need to know about the issue.

You can apply for Indigo Paints IPO on Groww easily via UPI. Go to IPO ( login to your account). There you would be able to see the list of all open IPOs. Select Indigo Paints IPO and click on ‘Apply’. You would be able to invest in this IPO from January 20, 2020.

Objects of the Offer

Indigo Paints Limited proposes to utilize the net proceeds from the fresh issue for the following:

• Funding capital expenditure for expansion of the existing manufacturing facility at Pudukkottai, Tamil Nadu by setting-up an additional unit adjacent to the existing facility;
• Purchasing tinting machines and gyroshakers;
• Repaying/prepaying of all or certain of its borrowings; and
• General corporate purposes.

About the Company – Indigo Paints Limited

Indigo Paints Limited is one of the top-five fastest-growing paint companies in India. In terms of revenue generation in the decorative paint industry, Indigo Paints ranks fifth in India. This success is largely due to a strategic approach including the introduction of differentiated products, brand building activities, creating an extensive distribution network across most states and union territories, and decentralizing some parts of operations. Mahendra Singh Dhoni has been the brand ambassador of Indigo Paints to help boost its reach across the country.

The company manufactures a wide array of decorative paints including emulsions, distempers, enamels, primers, wood coatings, cement paints, and putties. Indigo Paints is the first paint company to offer products differentiated based on the end-use that they cater to.

The company operates three manufacturing facilities in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu). These facilities have been chosen strategically close to the sources of raw materials bringing down the freight costs and allowing the company to offer cost-efficient products. The company plans to expand its manufacturing capabilities by adding capacities to manufacture water-based paints in Pudukkottai (Tamil Nadu) to meet the increasing demand. 

FAQs

Q1. What is the Indigo Paints Limited IPO?

The Indigo Paints Limited IPO is a Main Board IPO for the issue of equity shares having the face value of Rs.10 totaling up to Rs.1,176 crores. The registrar for the IPO is Link Intime India Private Limited and the shares are proposed to be listed on the BSE and NSE.

Q2. What are the open and close dates of the Indigo Paints Limited IPO?

The Indigo Paints Limited IPO opens on January 20, 2021, and closes on January 22, 2021.

Q3. What are the lot size and minimum order quantity of the Indigo Paints Limited IPO?

The lot size and minimum order quantity for this IPO is 10 shares. 

Q4. What are the allotment and listing dates of the Indigo Paints Limited IPO?

The allotment date January 28, 2021 and the listing date is Feb 2, 2021