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Indigo Paints IPO to open on January 20, price band set at Rs 1,488-1,490

URL copied Image Source : ANI Indigo Paints IPO to open on January 20, price band set at Rs 1,480-1,490  Sequoia Capital-backed Indigo Paints, on Thursday, said it has fixed a price band of Rs 1,488-1,490 a share for its initial share-sale, which will open for public subscription on January 20. 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, through its two funds SCI Investments IV and SCI Investments V and promoter Hemant Jalan. The three-day initial public offering (IPO) will conclude on January 22. The anchor investors portion will be open for subscription on January 19, Indigo Paints said in a virtual press conference.

Indigo Paints IPO | Analysing Indigo Paints 1186 Crore IPO

So has COVID hit the demand for these products and thus the topline for Indigo? Not really. On the contrary, the company s sales drop has been far narrower as compared to peers. In H1FY20, where Asian Paints and Berger Paints saw their revenue degrowing by 19.5% and 21.6% respectively, Indigo s revenue compression was limited to 4.9%. Indigo has a higher presence in smaller towns and rural areas. Almost 85% of our sales come from towns with a population of under 3 lacs. These were the towns that were not affected much by Covid,  says Jalan. In FY20 too, indigo Paints stood out with a topline growth of 16.6% vs 3-5% posted by Asian and Berger.

Indigo Paints IPO to open on Jan 20, sets price band of ₹1,488-1,490 per equity share

Indigo Paints IPO to open on Jan 20, sets price band of ₹1,488-1,490 per equity share January 14, 2021 × Indigo Paints Limited will open its initial public offering of Equity Shares on January 20, 2021 with a price band of ₹1,488–₹1,490 per Equity Share. The paint company, now the fifth largest in the country in decorative paint industry, may, in consultation with the Book Running Lead Managers, consider participation by Anchor Investors which shall be one Working Day prior to the Bid/Offer Opening Date. The IPO comprises a fresh issuance of Equity Shares aggregating to ₹3,000 million by the Company and an offer for sale of up to 5,840,000 Equity Shares by Sequoia Capital India Investments IV and SCI Investments V, and the promoter selling shareholder, Hemant Jalan.

Indigo Paints IPO: कंपनी ने दी प्राइस बैंड से लेकर लॉट साइज समेत कई जानकारी

Indigo Paints IPO: कंपनी ने दी प्राइस बैंड से लेकर लॉट साइज समेत कई जानकारी
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इंडिगो पेंट्स का आईपीओ 20 जनवरी को खुलेगा, मूल्य दायरा 1,488-1,490 प्रति शेयर - indigo paints ipo to open on january 20 price range 14881490 per share

इंडिगो पेंट्स का आईपीओ 20 जनवरी को खुलेगा, मूल्य दायरा 1,488-1,490 प्रति शेयर - indigo paints ipo to open on january 20 price range 14881490 per share
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