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Watch this space for the latest updates on the subscription status of Indigo Paints IPO 

February 2 Indigo Paints Listing Day

Indigo Paints Lists At 75% Premium

  • Indigo Paints listed at Rs 2,607.5 per share on the BSE which is a 75% premium over its issue price of Rs 1,490 per share.

January 22-Day 3

As of 5.00 p.m.

The Indigo paints IPO was subscribed 117 times so far at the end of the bidding proces.
Total bids received: 64.57 crore shares
Issue size: 55.18 lakh shares

Subscription status for each investor category:

Employees: 2.49 times
Retail Investors: 15.93 times
Qualified institutional buyers: 189.6 times
Non-institutional investors: 263 times

As of 12.50 p.m.

  • The Indigo paints IPO was subscribed 31.63 times so far on the final day of bidding.
  • Total bids received: 17.45 crore shares
  • Issue size: 55.18 lakh shares

Subscription status for each investor category

  • Employees: 2 times
  • Retail Investors: 13 times
  • Qualified institutional buyers: 27 times
  • Non-institutional investors: 84 times

January 21-Day 2

As of 5.00 p.m.

The Indigo paints IPO was subscribed 6.97 times so far on January 21.

Subscription status for each investor category:

ipo blog cta
  • Employees: 1.8 times
  • Retail Investors: 9.6 times
  • Qualified institutional buyers: 3.8 times
  • Non-institutional investors: 5.4 times

As of 1.25 p.m.

The Indigo paints IPO was subscribed 3.8 times so far on January 21.

Subscription status for each investor category:

  • Employees: 94%
  • Retail Investors: 6 times
  • Qualified institutional buyers: 47%
  • Non-institutional investors: 3.1 times

January 20- Day 1

As of 5.00 p.m.

  • Indigo Paints IPO has been subscribed 1.9 times its total issue size
  • The issue received bids for 1.04 crore shares against offer size of 55.18 lakh shares (excluding anchor book portion).

Subscription status for each investor category

  • Retail investors: 3.3 times
  • Non-institutional investors: 1.09 times
  • Employees: 72% of the reserved portion
  • Qualified Institutional Buyers: 10% of the reserved portion

As of 4.00 p.m.

  • Indigo Paints IPO has been subscribed 1.6 times its total issue size
  • The issue received bids for 88.54 lakh shares against offer size of 55.18 lakh shares (excluding anchor book portion).

Subscription status for each investor category

  • Retail investors: 2.8 times
  • Non-institutional investors: 92% of the reserved portion
  • Employees: 12% of the reserved portion
  • Qualified Institutional Buyers: 10% of the reserved portion

As of 2.30 p.m.

  • Indigo Paints IPO has been subscribed 1.3 times its total issue size
  • The issue received bids for 73.51 lakh shares against offer size of 55.18 lakh shares (excluding anchor book portion).

Subscription status for each investor category

  • Retail investors: 2.3 times
  • Non-institutional investors: 80% of the reserved portion
  • Employees: 10% of the reserved portion
  • Qualified Institutional Buyers: 10% of the reserved portion

As of 12.40 p.m.

  • Indigo Paints IPO has been subscribed 63% of its total issue size, so far on Day 1.
  • The issue received bids for 34.69 lakh shares against offer size of 55.18 lakh shares (excluding anchor book portion).

Subscription status for each investor category

  • Retail investors: 1.17 times
  • Non-institutional investors: 22.4% of the reserved portion
  • Employees: 6.7% of the reserved portion

More on Indigo Paints

The second IPO of 2021, Indigo Paints IPO will open for subscription on January 20, 2021, and will remain open until January 22, 2021. The price band has been fixed at Rs.1488-1490. On Thursday, January 14, 2021, the company held a virtual meeting with analysts with the CEO & MD Hemant Jalan, Chief Financial Officer Chetan Humane, and Chief Operating Officer Suresh Babu at the helm. During the meet, the company offered information about its financials, operations, and industry presence. Here are some highlights of the meet:

  • Indigo Paints managed a CAGR of 42% between the financial years 2010 and 2019. Also, Indigo Paints had a CAGR of16% even during the COVID-hit 2020.
  • While Indigo Paints spent a lot on advertising in the last few years, it is leveraging its brand equity to increase tinting machines across the country
  • The IPO will help the company become free of debt.
  • Sequoia Capital is expected to stay invested for another 5-6 years
  • The company intends to maintain the current location of its manufacturing facilities at least for the next 5-6 years

The company will open bidding for its anchor book on January 19, 2021. With the Indian paints industry registering a CAGR of around 11% between 2014 and 2019 and the decorative paint segment comprising around 75% of the total paint sales, Indigo Paints is nicely poised for growth. 

Also Read: How to Apply for Indigo Paints IPO on Groww 

About the Indigo Paints IPO

Indigo Paints is launching the IPO for a fresh issue of equity shares totaling Rs.300 crore and an offer for sale totaling Rs.869-870 crore. The opening date of the IPO is Wednesday, January 20, 2021, and the closing date is Friday, January 22, 2021. The price band is Rs.1488-1490 per share and the lot size is 10 shares. Hence, retail investors need to invest at least Rs.14880 per lot (at the lowest price). Also, investors can apply for a maximum of 13 lots making the maximum investment amount will be Rs.193,700 (at the highest price). Retail investors will be able to bid for 35% of the issue, with 15% earmarked for HNIs, and 50% for Qualified Institutional Buyers. Currently, promoters own around 60% of the company with the remaining 40% with the public and non-promoters. 

The company initially focused on small towns and rural areas as it was easier to penetrate the market and influence buyer decisions. Subsequently, it leverages this network to approach dealers in bigger cities. In 2020, the company saw a lesser drop in revenues since smaller towns and rural areas had fewer instances of COVID-19 infections. 

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