IPO Details

Issue Date 20 Jan 2021 - 22 Jan 2021
Issue Size ₹1176.0 Cr
Issue Price ₹1488-1490
Market Lot 10 Shares
Shares on Offer 5,840,000
Registrar Link Intime
GMP ₹750-800
Kostak ₹800
Subject to Sauda ₹8000
Listing Date 02 Feb 2021
Listing Price ₹2607.5
Listing Gain% 75

About Indigo Paints Limited

Started in the year 2000, Indigo Paints had a modest beginning. It started out with the manufacture of lower-end Cement paints, and gradually expanded its range to cover most segments of water-based paints like Exterior Emulsions, Interior Emulsions, Distempers, Primers, etc. From an early age, the Company spread its footprints across the country, with the rapid expansion of its reach across India. Today the Company stands out as one of the strongest contenders in the Indian paint industry, being rated as an innovative paint manufacturer, which keeps coming out with unique products never before offered in the country.

Over time, the Company found its niche in the paint industry through innovation. It kept churning out bright new ideas for painting solutions, with alarming regularity. Gradually, the industry began looking upon the Company as a futuristic thinker and a storehouse of new product development.

With changing time and trends, Indigo Paints revamped its identity showcasing a new wave of thinking by the Company. A few years ago it clubbed all its multiple brands for different product categories into a single umbrella brand “INDIGO”. A new logo for the brand and the Company was created, which accurately reflected the core philosophy of the organization. The logo design was extended to all packaging design and other forms of corporate communication.

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.

The public issue of Indigo Paints Limited is available for subscription from 20 Jan 2021 till 22 Jan 2021. The public issue worth ₹1176.0 crore got subscribed 117.02 times. Indigo Paints Limited shares were trading at a premium of ₹750-800 per equity share in the grey market.

The Lot size for this IPO is 10 and is available at a price of ₹1488-1490

Based on the Company Financials, for 31-Mar-20, the companys Asset was ₹4,219.59 Cr, Revenue was ₹6,264.36 Cr and Profit was ₹478.15 Cr

Company Financials

Particulars 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets (In ₹ Millions) 4,219.59 3,731.83 2,973.94
Total Revenue (In ₹ Millions) 6,264.36 5,372.62 4,031.05
Profit After Tax (PAT) (In ₹ Millions) 478.15 268.70 128.62

Grey Market Premium Updates

Date GMP Kostak Subject to Sauda
31 Jan 2021 ₹750-800 ₹800 ₹8000
28 Jan 2021 ₹600-625 ₹600 ₹6000
26 Jan 2021 ₹780-790 ₹800 ₹8000
22 Jan 2021 ₹870-875 ₹900-950 ₹8500
21 Jan 2021 ₹833-837 ₹850 ₹8000
19 Jan 2021 ₹800-825 ₹800 ₹8000
15 Jan 2021 ₹840-850 ₹825-850 ₹7300-7500
13 Jan 2021 ₹820-825 ₹850 ₹7300-7500

Strengths & Weaknesses

Strength
Profitable company and profit is increasing year on year since 2018 according to company financials.
Revenue of the company is increasing year on year since 2018 according to company financials.
Total assets of the company has increased almost 40% - 50% in 2020 in comparison to 2018.
The subject to Sauda and gmp is very high, suggesting there will be a high listing gain.
Weakness
No weakness to report as such but the profit margin is 5 - 7%
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Subscription Details

Date & Time QIB NII RII Total
Day 1 - 20 Jan 0.11 1.10 3.29 1.90
Day 2 - 21 Jan 3.86 5.38 10.35 7.36
Day 3 - 22 Jan 189.57 263.05 15.93 117.02

Allotment Status

Please click the link below to check the IPO allotment status.

IPO Allotment Status

Indigo Paints Limited IPO FAQs

  1. When will Indigo Paints Limited IPO open?

    Indigo Paints Limited IPO will open on 20 Jan 2021 and close on 22 Jan 2021.

  2. What is the listing date of Indigo Paints Limited IPO?

    Indigo Paints Limited IPO will list on 02 Feb 2021.

  3. What is the offer price of Indigo Paints Limited IPO?

    The offer price of Indigo Paints Limited IPO is ₹1488-1490.

  4. What is the lot size of Indigo Paints Limited IPO?

    The lot size of Indigo Paints Limited IPO is 10.

  5. What is the Grey Market Premium (GMP) price of Indigo Paints Limited IPO?

    The Grey Market Premium (GMP) price of Indigo Paints Limited IPO is ₹750-800.

  6. What is the Kostak price of Indigo Paints Limited IPO?

    The Kostak price of Indigo Paints Limited IPO is ₹800.

  7. What is the Subject to Sauda price for Indigo Paints Limited IPO?

    The Subject to Sauda price for Indigo Paints Limited IPO is ₹8000.

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