Retail investors portion was subscribed 7.87 times, while the figure was 54.71 times for qualified institutional buyers (QIB). The amount reserved for non-institutional investors or high net-worth individuals (HNIs) was subscribed 34.80 times. The employee quota was undersubscribed, with demand at 68% of the shares set aside for them.
The IPO received more than 3.23 million applications, the second-highest after the Reliance Power offer, which got 4.78 million applications. Earlier this year, the Rs 1,176-crore Indigo Paints IPO, which was subscribed 117 times, got 3.02 million applications.
Success Attributed to Brand
Bankers attributed the success of the Zomato IPO, the first by a startup unicorn in India, to its brand and business, which are simple to understand. Investors have recognised how disruptive these new-age technology companies are in terms of business scalability, and they believe many of them will end up as category leaders as the current population is more digit
✖
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
Indigo Paints IPO: Here s how to check allotment status
The Rs 1,170.16-crore public issue comprises of Rs 300 crore of fresh issuance of shares and Rs 870.16 crore of offer-for-sale by promoter Hemant Jalan and investors.
BusinessToday.In | January 26, 2021 | Updated 16:55 IST
The share sale had received an overwhelming response from investors, and was subscribed 117 times.
The allotment status of Indigo Paints initial public offering (IPO) will be finalised on Thursday, January 28. The allotted shares will be credited in demat accounts by February 1, 2021. The shares are likely to be listed on February 2, 2021.
The Rs 1,170.16-crore public issue comprises of Rs 300 crore of fresh issuance of shares and Rs 870.16 crore of offer-for-sale by promoter Hemant Jalan and investors (Sequoia Capital India Investments IV and SCI Investments V).
Analysts said that while the asking valuations look demanding, one can subscribe to the issue, citing the paint maker s improving performance and scope for the market share expansion.
Indigo Paints IPO subscribed over 50 times so far on final day
Premium
Indigo Paints IPO: At the upper end of the price band, the initial public offer (IPO) is expected to fetch ₹1,170 crore (Image: https://indigopaints.com)
2 min read
The issue concludes today
Read Full Story
The IPO of Sequoia Capital-backed Indigo Paints, which opened on Wednesday, was subscribed over 50 times as of 3 pm on final day. The issue will conclude on January 22. Ahead of the initial public offering, Indigo Paints mopped up ₹348 crore from anchor investors at ₹1,490 apiece. The anchor investors include Government of Singapore Investment Corporation, Fidelity, Goldman Sachs, Nomura and HDFC MF. Pune-based Indigo Paints manufactures a range of decorative paints and has an extensive distribution network across the country.