Indigo Paints to launch IPO on January 20, fixes price band at Rs 1,488-1,490
The company will utilise funds from its fresh issue for the expansion of the manufacturing facility at Pudukkottai in Tamil Nadu, purchasing tinting machines and gyroshakers and repaying borrowings. January 15, 2021 / 12:08 PM IST
Indigo Paints, the fifth-largest decorative paint company in India, will open its initial public offering for subscription on January 20. This would be the second IPO in calendar 2021 after Indian Railway Finance Corporation.
The public issue comprises a fresh issue of Rs 300 crore and an offer for sale of 58.40 lakh equity shares by promoters and investors. The offer for sale consists of 20.05 lakh equity shares by Sequoia Capital India Investments IV, 21.65 lakh equity shares by SCI Investments V and 16.7 lakh equity shares by promoter Hemant Jalan.
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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.