Indigo Paints IPO Details
Indigo Paints IPO description – Indigo Paints is the fifth largest company in the Indian decorative paint industry in terms of revenues and is the fastest growing amongst the top five paint companies in India. The company manufactures a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints. The company identifies potential product needs from customers and introduces differentiated products to meet these requirements. Revenue generated from sales of Indigo Differentiated Products represented 26.68%, 27.58%, and 28.62% of its total revenue from operations in FY2018, FY2019 and FY2020, respectively.
As of 30 September 2020, the company owned and operated three manufacturing facilities located in Jodhpur (Rajasthan), Kochi (Kerala) and Pudukkottai (Tamil Nadu) with an aggregate estimated installed production capacity of 101,903 kilo litres per annum (KLPA) for liquid paints and 93,118 metric tonnes per annum (MTPA) for putties and powder paints. Indigo Paints intends to expand its manufacturing capacities at Pudukkottai facility in Tamil Nadu, by adding capacities to manufacture water-based paints to cater to the growing demand for these paints. The proposed installed production capacity of the expansion unit is 50,000 KLPA and it is expected to be operational during FY2023.
Promoters of Indigo Paints – Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited
| 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 |
|
Indigo Paints’ financial performance (in INR crore) |
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| Â | FY2018 | FY2019 | FY2020 | H1 FY2021 |
| Revenue | 403.1 | 537.3 | 626.4 | 260.2 |
| Expenses | 389.2 | 503.2 | 559.0 | 225.0 |
| Net income | 13.2 | 27.0 | 47.7 | 27.2 |
| Net margin (%) | 3.3 | 5.0 | 7.6 | 10.5 |
Indigo Paints Contact Details
Indigo Paints Limited
Indigo Tower, Street-5,
Pallod Farm-2, Baner Road,
Pune 411 045, Maharashtra
Phone: +91 20 6681 4300
Email: [email protected]
Website:Â www.indigopaints.com
Registrar of Indigo Paints IPO
Link Intime India Private Limited C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg,
Vikhroli (West) Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected] Website:Â http://www.linkintime.co.in
Valuation of Indigo Paints (as of FY2020)
Earnings Per Share (EPS): INR10.49
Price/Earnings (PE ratio): 141.85 – 142.04
Return on Net Worth (RONW): 24.27%
Net Asset Value (NAV): INR43.23 per share
Indigo Paints IPO Subscription Details
| Category | Shares offered | Subscription (no. of times, 5 PM) | ||
| Day 1 | Day 2 | Day 3 | ||
| QIB | 1,556,690 | 0.10 | 3.85 | 189.56 |
| NII | 1,167,514 | 1.09 | 5.38 | 263.04 |
| Retail | 2,724,198 | 3.30 | 11.56 | 15.93 |
| Employee | 70,000 | 0.72 | 1.80 | 2.49 |
| Total | 5,518,402 | 1.89 | 6.96 | 117.02 |
Indigo Paints IPO: Avoid or Subscribe?
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Indigo Paints IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
Listing Performance of Indigo Paints
IPO Opening Date: 20 January 2021
IPO Closing Date: 22 January 2021
Finalisation of Basis of Allotment: 28 January 2021
Initiation of refunds: 29 January 2021
Transfer of shares to demat accounts: 1 February 2021
Listing Date: 2 February 2021
Opening Price on NSE: INR2,607.5 per share (up 75% from IPO price)
Closing Price on NSE: INR3,129 per share (up 110% from IPO price)
