Indigo Paints Limited IPO Detail
Indigo Paints 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.
Indigo Paints has a strong market network with dealers in Tier 1, Tier 2, and Metros as well. It has 3 manufacturing facilities situated in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu). It is further looking to expand its manufacturing capacities at Pudukkottai to manufacture water-based paints.
Company 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 Promoters
Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited are the promoters of the company.IPO Details
| IPO Opening Date | Jan 20, 2021 |
| IPO Closing Date | Jan 22, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹1488 - 1490 per equity share |
| Market Lot | 10 Shares |
| Min Order Quantity | 10 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹1,176 Cr |
| Fresh Issue | Eq Shares of ₹10 (aggregating up to ₹300.00 Cr) |
| Offer for Sale | 5,840,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
| Retail Portion | - |
IPO Tentative Timetable
The Indigo Paints Limited IPO open date is Jan 20, 2021, and the close date is Jan 22, 2021. The issue may list on Feb 02, 2021.
| IPO Open Date | Jan 20, 2021 |
| IPO Close Date | Jan 22, 2021 |
| Basis of Allotment Date | Jan 28, 2021 |
| Initiation of Refunds | Jan 29, 2021 |
| Credit of Shares to Demat Account | Feb 01, 2021 |
| IPO Listing Date | Feb 02, 2021 |
IPO Lot Size
The Indigo Paints Limited IPO market lot size is 10 shares. A retail-individual investor can apply for up to 13 lots (130 shares or ₹193700).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 10 | ₹14900 |
| Maximum | 13 | 130 | ₹193700 |
IPO Promoter Holding
| Pre Issue Share Holding | 60.05% |
| Post Issue Share Holding | 54% |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 30-Sep-20 | 4,112.91 | 2,602.43 | 272.05 |
| 31-Mar-20 | 4,219.59 | 6,264.36 | 478.15 |
| 31-Mar-19 | 3,731.83 | 5,372.62 | 268.70 |
| 31-Mar-18 | 2,973.94 | 4,031.05 | 128.62 |
Objects of the Issue:
The net proceed from the Indigo Paints IPO will be used against following objectives.
- To meet the capital expenditure requirements for manufacturing facility expansion at Pudukkottai, Tamil Nadu
- To purchase tinting machines and gyroshakers.
- To repay all or certain borrowings.
- To meet general corporate purposes.
