Indigo Paints IPO

Open Date 20th Jan 2021
Close Date 22nd Jan 2021
Price Band Rs. 1,488 - Rs. 1,490 per equity share
Lot Size 10 shares and in multiples thereafter
Investment Per Lot Rs. 14,900 per lot
Listing at NSE and BSE
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Indigo Paints IPO

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

  1. Track record of consistent growth in a fast growing industry with significant entry barriers
  2. Differentiated products leading to greater brand recognition and enabling expansion into a complete range of decorative paint products
  3. Focused brand-building initiatives to gradually build brand equity
  4. Extensive distribution network for better brand penetration
  5. Leveraged brand equity and distribution network to populate tinting machines
  6. 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

Download the Indigo Paints IPO Report

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

  1. PE Ratio = 102.7 on TTM basis
  2. Debt to Equity = 0.1 on TTM basis
  3. Return on Equity = 13.1% on TTM basis
  4. PAT = 478.2 Mn for FY 20 which is a growth of 77.9% over FY 19
  5. 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

  1. Go to the IPO Section => IPO Listing => Open IPO.
  2. On tapping Indigo Paints IPO, you can directly click on Subscribe to apply or even view the IPO details.
  3. On the Subscribe Screen/Page, you will be required to enter the number of lots, cut-off price, UPI ID and tap Verify.
  4. Once you select ‘Subscribe’. Your bid will be executed.
  5. You can check the status of your IPO bid in the IPO Transactions section.
Click here to read the entire procedure to apply for the IPO
Apply for the Indigo Paints IPO with Jiffy

Indigo Paints IPO FAQs

Yes, IPO application for Retail Investors is up to 2 Lakhs.
You will have to opt for the ASBA – Application Supported by Blocked Amount facility. Please get in touch with your bank for the same, do check if your bank is in the list of Banks here: https://www.sebi.gov.in/sebiweb/other/OtherAction.do?doRecognisedFpi=yes&intmId=34
No. Applications made by retail investors using third party UPI ID or by any category of investors using a third party bank account are liable for rejection.
Yes, before the issue closure date. You can do it through Jiffy itself. The blocked amount will be available in 1 working day.
To check your allotment status, use this link - https://linkintime.co.in/IPO/public-issues.html