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Indigo Paints IPO Review 2021 – Full Details and Review

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Indigo Paints IPO is the 2nd IPO of 2021. In this post, we will look into important information on the Indigo Paints IPO 2021 and find out the possible prospects of the company.

Important DetailsIndigo Paints IPO

ParticularsDetails
IPO Dates20 Jan – 22 Jan 2021
IPO Size (in Crores)1175 Crores
Face ValueRs. 10 per Equity Share
Price BandRs. 1488 to Rs. 1490 per Equity Share
Minimum Lot Size10 Shares
Minimum Application AmountRs. 14900/-
Listing Date02 Feb 2021
Official Websitehttps://indigopaints.com/
Indigo Paints IPO 2021 Details

Indigo Paints IPO Allotment Dates

ParticularsDetails
Basis Of Allotment28 Jan 2021
Initiation Of Refunds29 Jan 2021
Credit to DEMAT1 Feb 2021
Listing Date02 Feb 2021
Indigo Paints IPO 2021 Details

Indigo Paints – About the Company

  • Indigo Paints is the 5th largest firm in the decorative paint industry in terms of sales and one of India’s fastest-growing paint firms.
  • The company is primarily engaged in the manufacture of various types of decorative paints such as primers, enamels, emulsions, wood coatings, putties and cement paints.
  • It has strong distribution network and hold in Tier 2 & Tier 3 cities.
  • The company clocked Revenue of Rs 626.43 crore and Profits After Taxes of Rs 47.81 crore in FY20.

Objectives of the Issue – Indigo Paints IPO

  • The company will utilize funds for the expansion of the manufacturing facility at Pudukkottai in Tamil Nadu by setting up another facility, New unit in Tamil Nadu will have a capacity of 50,000 KLPA and is expected to be operational during FY2023.
  • For Repayment of Borrowings and General corporate purposes.
  • The IPO will help the company become free of debt.

Indigo Paints IPO Listed At

Indigo Paints made a Strong debut on the Market on 2nd Feb. 2021 by listing at Rs 2607 a 75% Premium over its issue price of Rs 1,490.
Indigo Paints IPO Review 2021 - Full Details and Review

Indigo PaintsCompetitors in the Industry

Some of Indigo Paints’ Main Rivals are Asian Paints, Berger Paints, Nippon Paint India, Shalimar Paints, Kansai Nerolac Paints, Akzo Nobel India Ltd (Delux Paints), British Paints India Ltd, etc.

Our View About This IPO

This IPO seems Very Good for Listing Gains. The Listing can be above 60% of Issue Price. Though we feel the GMP of This IPO is Unreasonably High. One can apply to this IPO although the chances may be thin to actually get this IPO.

Indigo Paints IPO Allotment Status

Tell us your Views About Indigo Paints IPO in the Comment Section Below. Read More About Upcoming IPOs on Our IPO Page.


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