Indigo Paints Limited

This is to inform you that Indigo Paints Limited is coming out with a public issue to raise Rs.1169 crore from the market.

The issue opens on January 20 and closes on January 22, 2021.

Details of the Indigo Paints Limited IPO

Company Details :
  • Indigo Paints Limited is the fastest growing amongst the top five paint companies in India. Company is the fifth largest company in the Indian decorative paint industry in terms of its revenue from operations for Fiscal 2020 (Source: F&S Report).
  • Company manufacture a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints. Company also identify potential product needs from customers and introduce differentiated products to meet these requirements, and create a distinct market for its products.
  • Indigo Paints Limited is the first company to manufacture and introduce certain differentiated products in the decorative paint market in India, which includes Metallic Emulsions, Tile Coat Emulsions, Bright Ceiling Coat Emulsions, Floor Coat Emulsions, Dirtproof & Waterproof Exterior Laminate, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel (together, “Indigo Differentiated Products”) (Source: F&S Report).
  • As of September 30, 2020, Company own and operate three manufacturing facilities located in Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu) with an aggregate estimated installed production capacity of 101,903 kilo litres per annum (“KLPA”) for liquid paints and 93,118 metric tonnes per annum (“MTPA”) for putties and powder paints
Issue Period : Issue opens on: Wednesday, January 20, 2021
Issue closes on: Friday, January 22, 2021
Price Band : Rs.1488 to Rs.1490 per equity share
Bid Lot : 10 shares and in multiples thereof
Employee Discount : Rs. 148 – per equity shares
Issue Size : Rs.1169 crore
Employee Reservation : Upto 70000 equity shares
Issue break-up : QIB – 50 % of the Net offer – Rs. 580 crore
NIB – 15 % of the Net offer – Rs. 174 crore
RET – 35 % of the Net offer – Rs. 406 crore
Listing : NSE & BSE
Registrar : Link Intime India Private Limited.
UPI : All Retail Applications through brokers are compulsorily in UPI Mode

Company Strengths:

  • Large product portfolio with differentiated products.
  • Well-proven, and consistent growth track record.
  • Strong brand equity.
  • Extensive network distribution.
  • Strategically located manufacturing facilities.

Company Promoters:

Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited are the promoters of the company.

Objects of the Issue:

The net proceed from the Indigo Paints IPO will be used against following objectives.

  • To meet the capital expenditure requirements for manufacturing facility expansion at Pudukkottai, Tamil Nadu
  • To purchase tinting machines and gyroshakers.
  • To repay all or certain borrowings.
  • To meet general corporate purposes.


Company Contact Information:

Indigo Paints Limited
Indigo Tower, Street-5, Pallod Farm-2
Baner Road, Pune 411 045
Phone: 91 20 6681 4300
Email: secretarial@indigopaints.com
Website: http://www.indigopaints.com/

Indigo Paints IPO Lead Managers:

  1. Edelweiss Financial Services Ltd
  2. ICICI Securities Limited
  3. Kotak Mahindra Capital Company Limited

Lead Manager Reports

Lead Manager Performance Tracker

For More details….. View PDF

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