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NEW DELHI: Indigo Paints looks set to make a strong market debut on Tuesday, as sentiment turned euphoric in the secondary market after the presentation of Union Budget 2021-22 in Parliament.
The scrip was commanding a grey market premium of Rs 820 apiece following the Budget announcements, after plunging to Rs 700-720 levels a day ago, thanks to six days of relentless selling pressure in the secondary market correction that was eventually snapped by Monday s mega rally. The stock has rebounded smartly post Budget. The grey market premium now stands at Rs 820, said Abhay Doshi, a gujarat-based dealer of unlisted shares, who also tracks grey market premium.
Indigo Paints IPO kicks off: Can this issue deliver solid returns?
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Indigo Paints public offer includes a fresh issue stocks aggregating to Rs 300 crore.
Indigo Paints IPO kicks off: Issue subscribed 1.9 times on day 1, HNIs portion fully booked
NEW DELHI: Indigo Paints initial public offer (IPO) opened for subscription on Wednesday. The IPO has come at a time when the offering of IRFC is already under way, and the one of Home First Finance is all set to hit the market on Thursday.
The Indigo Paints IPO is being priced at Rs 1,488-1,490 and comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares. Ahead of its IPO, the Sequoia Capital-backed paints maker raised Rs 348 crore from 25 anchor investors at Rs 1,490 per share.
Synopsis
By 5:00 pm on Tuesday, the issue received bids for 152.64 crore shares, which was 122.35 per cent of the issue size of 124.75 crore shares. The issue was subscribed 65 per cent on the first day.
Agencies
IRFC is the dedicated market borrowing arm of the Indian Railways.
NEW DELHI: The Rs 4,633-crore IPO of Indian Railway Finance Corporation (IRFC) got fully subscribed on the second day of the bidding process led by strong demand from retail investors.
By 5:00 pm on Tuesday, the issue received bids for 152.64 crore shares, which was 122.35 per cent of the issue size of 124.75 crore shares. The issue was subscribed 65 per cent on the first day.