Indigo Paints IPO GMP Today, Check Daily Movement


Last updated on February 1, 2021

Indigo Paints IPO is scheduled to go live on 20 January 2021 as India’s second IPO in the ongoing year. Following a volatile 2020, markets are looking much better now with several interesting IPOs lined up for this year. Meanwhile, Indigo Paints IPO GMP indicates there is a strong demand and fancy for this paint company in the informal market. Here is a closer look at the IPO details:

Indigo Paints IPO details

Subscription Dates 20 – 22 January 2021
Price Band INR1,488 – 1,490 per share
Fresh issue INR300 crore 
Offer For Sale 5,840,000 shares (INR868.99 – 870.16 crore)  
Total IPO size INR1,168.99 – 1,170.16 crore
Minimum bid (lot size) 10 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

From revenue of INR403.1 crore in FY2018, Indigo Paints posted a topline of INR626.4 crore in FY2020 and has raked in INR260.2 crore even in the first six months of the current fiscal year despite the impact of Covid-19. In these years, it has also managed to post consistently higher profits and its profitability reached a peak of 10.5% in H1FY2021. For the year ended 31 March 2020, the company also posted a health RONW of 24.27% although the offer’s PE ratio is quite high at 142.

Read Also: IRFC IPO GMP Today, Check Daily Movement

Indigo Paints IPO GMP (Grey Market Premium) rates

Date GMP (in INR) Kostak (in INR) Subject to Sauda (in INR)
1 Feb 20218007006,500
30 Jan 20217506006,000
29 Jan 20217005505,700
28 Jan 20216505005,500
27 Jan 20217506506,500
25 Jan 20218007006,500
23 Jan 20218207507,000
22 Jan 20218007507,000
21 Jan 20217507006,000
20 Jan 20217907506,000
19 Jan 20217707006,500
18 Jan 20218007507,000
15 Jan 2021 820 800 7,000
14 Jan 2021 800 780 7,000
13 Jan 2021 800 750 7,000
12 Jan 2021 800 750 7,000

The company’s strong business growth is the prime reason behind the grey market premium. At the current rates, the premium in the informal market is nearly 55% of the offer price which is quite strong. Although grey premiums are prone for wild moves and extreme volatility, it shows that there is appetite for high growth companies at even higher valuations.



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