Indigo Paints IPO: Issue Price, Issue Size, GMP & Important Dates.

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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. 
IRFC IPO: Issue Price, Issue Size, GMP & Important Dates.

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 


  • 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 

Indigo Paints IPO Registrar 

Link Intime India Private Ltd 
Phone: +91-22-4918 6270 


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