Indigo Paints IPO Details

Indigo Paints IPOIndigo 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
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Indigo Paints’ financial performance (in INR crore)

  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
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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: 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: 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)
Day 1 Day 2 Day 3
QIB        
NII        
Retail        
         
Total        

Indigo Paints IPO Analyst Reviews

Angel Broking 
BP Wealth 
Choice Broking 
Prabhudas Lilladher 
Samco Securities 
SMC Global

Indigo Paints IPO Allotment Status

Indigo Paints IPO allotment status will be 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: To be updated
Closing Price on NSE: To be updated

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