Indigo Paints IPO Details
2nd IPO of 2021, Indigo Paints is a premier paint manufacturing company. Established at the turn of the century, year 2000, Indigo paints with innovation is the fastest growing paint company in India and the 5th largest.
It has achieved this position on the back of multi-pronged approach, which includes introducing differentiated products like Metallic Emulsions, Bright Ceiling Coat Emulsions, Tile Coat Emulsions, Dirt-proof & Waterproof Exterior Laminate, Floor Coat Emulsions, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel.
As on 30th Sept. 2020, Indigo Paint had 40 depots and distribution network comprising 11,230 active dealers.
- The total issue size is 7.853 - 7.856mn shares (Rs. 11,689.9 - 11,701.6mn)
- With this IPO, Indigo Paints intends to proceed with the OFS (5.840mn Eq shares)
Indigo Paints IPO Dates
|Open Date||20th Jan 2021|
|Close Date||22nd Jan 2021|
|Allotment Date||28th Jan 2021|
|Initiation of Refunds||29th Jan 2021|
|Credit of Shares to Demat Account||1st Feb 2021|
|Listing Date||2nd Feb 2021|
Indigo Paints IPO Price
|IPO Price Band||Rs. 1,488 - Rs. 1,490 per equity share|
|Minimum Investment Amount||Rs. 14,900|
|Maximum Investment Amount||Rs. 1,93,700|
|Face Value||Rs. 10 per equity share|
Indigo Paints IPO Lot Size
|Minimum Lot Size||1 (10 shares)|
|Maximum Lot Size||13 (130 shares)|
Indigo Paints IPO Review/Ratings
Key Competitive Strengths
- Track record of consistent growth in a fast growing industry with significant entry barriers
- Differentiated products leading to greater brand recognition and enabling expansion into a complete range of decorative paint products
- Focused brand-building initiatives to gradually build brand equity
- Extensive distribution network for better brand penetration
- Leveraged brand equity and distribution network to populate tinting machines
- Strategically located manufacturing facilities with proximity to raw materials
Risk And Concerns
- Continued economic slowdown and Covid-19 pandemic
- Inability to maintain the superlative business growth
- Lower acceptance of its products
- Unfavorable movement in raw material prices
- Intense competition
Indigo Paints IPO Subscription Breakup
|QIBs||50% (3.892 - 3.893mn shares)|
|Non-Institutional Investors||15% (1.1675 - 1.1679mn shares)|
|Retail Individual Investors||35% (2.724 - 2.725mn share)|
Indigo Paints IPO Fundamental Analysis
- PE Ratio = 102.7 on TTM basis
- Debt to Equity = 0.1 on TTM basis
- Return on Equity = 13.1% on TTM basis
- PAT = 478.2 Mn for FY 20 which is a growth of 77.9% over FY 19
- Revenue from Operations = 6247.9 Mn for FY 20 which is a growth of 16.6% over FY 19
Online Procedure to Apply For Indigo Paints IPO
- Go to the IPO Section => IPO Listing => Open IPO.
- On tapping Indigo Paints IPO, you can directly click on Subscribe to apply or even view the IPO details.
- On the Subscribe Screen/Page, you will be required to enter the number of lots, cut-off price, UPI ID and tap Verify.
- Once you select ‘Subscribe’. Your bid will be executed.
- You can check the status of your IPO bid in the IPO Transactions section.
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