Indigo Paint is one of the fastest-growing paint companies in India and is all set to make a debut in the stock market with an issue size of 1176 Cr.
Indigo Paints IPO -Overview
| INDIGO PAINTS IPO Issue Date | 20-22 January 2021 |
| INDIGO PAINTS IPO Opening Date | 20 Jan 2021 |
| INDIGO PAINTS IPO Face Value | INR 10 per share |
| INDIGO PAINTS IPO Price | INR 1490 per share |
| INDIGO PAINTS IPO Lot Size | 10 Shares |
| Issue Size | 1176 Cr |
| Fresh Issue | 300 Cr |
| Issue Type | Book built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 189.57 times |
| NII (HNI) Shares | 263.05 times |
| Company Promoters | Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited are the promoters of the company. |
Tentative Dates
| INDIGO PAINTS IPO opening date | 20 Jan 2021 |
| INDIGO PAINTS IPO closing date | 22 Jan 2021 |
| Basis of Allotment | 28 Jan 2021 |
| Initiation of Refunds | 29 Jan 2021 |
| The credit of Shares to Demat | 1 Feb 2021 |
| INDIGO PAINTS IPO Listing Date | 2 Feb 2021 |
Industry Overview.
The industry has a three-stage setup comprising raw material suppliers, manufacturers, and sellers. Most of the raw materials in the paint industry are petroleum-based and supplied by petrochemical companies. A few companies adopt contract manufacturing, while bigger companies have manufacturing facilities. The larger chemical companies are vertically integrated into both the raw materials and paint production stages while others are pure-play producers of paint and coatings. The western and southern regions of India account for over 60% of the total demand for paints.
Company Overview
It is one of the fastest-growing paint companies in India and in terms of revenue, it is the 5th largest company in the decorative paint industry. The company is engaged in manufacturing different types of decorative paints like enamels, emulsions, wood coatings, primers, distempers, putties, and cement paints.
It is the first company that started manufacturing certain differentiated products like Metallic Emulsions, Bright Ceiling Coat Emulsions, Tile Coat Emulsions, Dirtproof & Waterproof Exterior Laminate, Floor Coat Emulsions, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel. The sales from these differentiated products are continuously growing as it was 26.68% in 2018 increased to 28.62% in fiscal 2020.
Objectives Of The Issue
- To meet the capital expenditure requirements for manufacturing facility expansion at Pudukkottai, Tamil Nadu.
- To purchase tinting machines and gyro shakers.
- To repay all or certain borrowings.
- To meet general corporate purposes.
Financial Statements
| Particulars | 31-Sept-20 | 31-Mar-20 | 31-Mar-19 |
| Total Assets | 37,221.96 | 34,796.11 | 24,820.05 |
| Total Revenue | 2,431.93 | 4,196.57 | 2,709.21 |
| Profit After Tax | 529.53 | 792.49 | 452.04 |
Strengths
- Large product portfolio with differentiated products.
- Well-proven, and consistent growth track record.
- Strong brand equity.
- Extensive network distribution.
- Strategically located manufacturing facilities.
Company Contact Information
Indigo Paints Limited
Indigo Tower, Street-5, Pallod Farm-2
Baner Road, Pune 411 045
Phone: 91 20 6681 4300
Email: secretarial@indigopaints.com
Website: http://www.indigopaints.com/
Indigo Paints IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: indigopaints.ipo@linkintime.co.in
Website: https://linkintime.co.in/
