Indigo Paints IPO Opens Today: All You Need to Know
Indigo Paints IPO Opens Today: All You Need to Know
The initial public offering will open on January 20, 2021, and will close on January 22, 2021, giving three days time to subscribe for the shares issued.

Indigo Paints is opening Rs 1,170.16 crore initial public offering (IPO) for subscription on Wednesday, January 20, 2021. After the ongoing Indian Railway Finance Corporation (IRFC) IPO, this is the second public issue of the year 2021 to hit the primary markets. The aim of the IPO is to use the net proceeds for the expansion of the existing manufacturing plant at Pudukkottai in Tamil Nadu, purchasing tinting machines and gyroshakers, to repay or prepay borrowings and for general corporate purposes.

Incorporated in the year 2000, Indigo Paints is the fifth largest decorative paint company in India and commands 2 percent market share in the decorative paints industry. The company manufactures different types of decorative paints including enamels, emulsions, wood coatings, primers, distempers, putties, and cement paints.

Everything one needs to know about the IPO:

IPO Date: The initial public offering will open on January 20, 2021, and will close on January 22, 2021, giving three days time to subscribe for the shares issued. The shares will be listed on the BSE Sensex and NSE Nifty on February 2, 2021.

The IPO comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital,

Price Range: The price band is of Rs 1,488 – 1,490 per share with the face value of Rs 10 per equity share.

Fresh Issue: Under this, the stocks are aggregating to Rs 300 crore.

Lot: Minimum one lot of 10 shares can be bid by an investor. However, it can extend up to 13 lots.

Book running lead managers: The book running lead managers for the IPO are Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities.

How to apply: One can apply in Indigo Paints IPO online using either UPI or ASBA as payment method. One can avail the ASBA IPO application via net banking. For UPI IPO application, one needs to get in touch with the brokers.

Read all the Latest News, Breaking News and Coronavirus News here

Original news source

What's your reaction?

Comments

https://popochek.com/assets/images/user-avatar-s.jpg

0 comment

Write the first comment for this!