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Indigo Paints all set to launch its IPO in the market on 20th January January 18 2021Indigo Paints IPO: Issue Date, Price, Review

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Indigo Paints is one of the fastest growing paint companies and bags a place amongst the top 5 paint companies in India. Indigo Paints IPO will be open for subscription on 20th January and will last till 22nd January. Price band of per share is valued at RS 1,488-1,490. The issue size is expected to be approximately Rs 1,176 Crores out of which Rs 300 crore consists of fresh issue and Rs 876 crores for offer for sale (OFS). Money received under OFS will go to shareholder selling it and no proceeds would be received by the company.


50 percent of the issue size is allocated for qualified institutional buyers (QIBs), 35 percent is reserved for retail investors, 15 percent is reserved for non-institutional bidders, and up to 70,000 equity shares are reserved for employees who will earn a discount of Rs 148 per share on the bid price.

At a CAGR of 42 percent during FY2010-FY2019, Indigo''s revenue rose considerably compared to the mere 12-13 percent growth in the same era by the top four paint manufacturers. Indigo managed to report a good sales growth of 16 percent even during FY2020, when all businesses were affected by the outbreak of Covid-19. Indigo would be a debt-free company after the IPO. Although there are 12-15 sub-brands for large paint players, Indigo stalwartly adopted the one-brand strategy.

The counter is overvalued compared to its listed peers such as Asian Paints and Berger Paints. Investors can take a spot in the script and book profits at the time of listing if allocated and can later add the counter at dips in lots.

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