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Synopsis
Indigo Paints debuted on the bourses on February 2 at a 75% premium on its issue price. The company has maintained a 25% CAGR and scored 27.5% RoCE for FY20, albeit on a small base. So, is the stock fairly valued? Given the peculiar nature of India’s paints industry, several factors could constrain Indigo Paints’ growth in the longer term.
Every year, there are initial public offers (IPOs) that become the talk of the town for their blockbuster debuts. This year, so far, Indigo Paints’ IPO has been one such instance. A far fifth by market share in the rather organised decorative-paints industry, Pune-based Indigo Paints debuted on the bourses on February 2 at a 75% premium on its issue price. The issue was oversubscribed 117 times. According to data company Refinitiv, it is trading
Fund managers were seen subscribing to shares worth Rs 927 crore in the IRFC IPO. They bought Rs 143 crore worth of shares in Indigo Paints, Rs 117.82 crore in Home First Finance IPO and Rs 50 crore in the Stove Kraft offering.
12:30 pm
After staging a gap-up opening, Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.
Benchmark indices extended their winning streak into sixth straight session with both Sensex and Nifty ending at record closing highs.
At the closing bell, the BSE Sensex stood higher by 617 points (up 1.2%).
The NSE Nifty closed higher by 192 points (up 1.3%). - Advertisement -
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Indigo Paints Shares Debut At Rs 2607 50, A Stellar 75% Premium Over IPO Price 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.