Updated Jan 20, 2021 | 13:37 IST
Indigo Paints IPO opens for subscription today. It raised Rs 348 cr from 25 anchor investors ahead of the IPO. Hemant Jalan, CMD says anchor investors have found the valuation to be reasonable. Representational Image
Key Highlights
FIIs like Capital Group, Government of Singapore Investment Corporation, Fidelity, Goldman Sachs have invested while DIIs like SBI MF, HDFC MF, ICICI Prudential MF are the other anchor investors
At Rs. 1490/share at the upper band, the FY21e P/E comes to 130x which is significantly higher than the average P/E of 95x for the paint industry
CMD, Hemant Jalan says anchor investors have found the price point of Rs 1490/share reasonable and one that leaves enough room to make gains post listing
Indigo Paints IPO worth Rs 1,170 crore opens today: Should you subscribe?
Indigo Paints IPO: Many brokerage houses recommended investing in the public issue given the company s fast growth in the last decade compared to peers Sunil Shankar Matkar January 20, 2021 / 05:12 PM IST
Indigo Paints, the fifth largest decorative paint company in India, opens its initial public offering for subscription on January 20 with a price band at Rs 1,488-1,490 per share.
The IPO comprises fresh issue of Rs 300 crore, and an offer for sale of 58,40,000 equity shares by promoter (Hemant Jalan) and investors (Investors Sequoia Capital India Investments IV and SCI Investments V).
Indigo Paints IPO opens today: Key points to remember before subscribing
Indigo Paints IPO opens today: Key points to remember before subscribing
The public issue comprises fresh issuance of shares worth Rs 300 crore and an offer-for-sale (OFS) up to 58,40,000 equity shares by private equity firm Sequoia Capital through its two firms SCI Investments IV and SCI Investment V, and promoter Hemant Jalan. Here are key points you should know before subscribing:
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UPDATED: January 20, 2021 12:15 IST
Interested investors can bid for the Indigo IPO starting today at a price band of Rs 1,488-1,490 per share. (Photo: Reuters/Representational image)
Sequoia Capital-backed Indigo Paints, one of India’s largest decorative paint companies, on Wednesday opened its initial public offering (IPO) for subscription as it plans to raise approximately Rs 1,170 crore. This is the second IPO of the calendar year 2021.
With Indigo Paints IPO, Sequoia Capital clocks another big gain from a non-tech bet
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Synopsis
Sequoia Capital will garner up to Rs 650 crore by selling 7-8% stake in the Indigo Paints in IPO process. It will continue to hold about 28% of the company.
Agencies
Mumbai:Sequoia Capital, among the world’s most successful technology investors, is scripting a big win from a non-technology company in India a trend the fund has consistently seen locally, unlike the US and China markets.
The Silicon Valley-based venture capital firm, an early investor in Apple, Google, WhatsApp and Airbnb among other technology firms, is likely to garner up to Rs 650 crore by selling 7-8% stake in the Indigo Paints IPO, which opened on Wednesday.
Indigo Paints का IPO आज खुला, जानिए निवेशकों को क्या करना चाहिए? Indigo Paints IPO open on jan 20 price band listing-should you invest moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.