7th Best Listing in a Decade: Indigo Paints doubles investor monies on IPO Listing, closes at 110% premium

Mumbai, February 2, 2021: Pune based, Indigo Paints Limited, one of the fastest growing amongst the top five paint companies in India, whose IPO opened on January 20, 2021 and closed on January 22, 2021 listed on the BSE and NSE at a 75 % premium. The initial public offering was offered at a lower price band of Rs 1,488 per share and higher price band of Rs 1,490 per share and found a great response from all investor categories to be subscribed over 117.02 times.

One of the leading manufacturers of decorative paints, Indigo Paints Ltd debuted on the bourses with a stellar listing with its share price hitting the upper circuit on the listing day itself.

The total quantity traded was 10.36 lacs with a delivery quantity of 4,65,803 (44.98%) and the turnover of Rs. 281.05 crores at BSE. The total quantity traded was 1,26,52,036 with a delivery quantity of 54,56,304 (43.13%) and the turnover of Rs. 3396 crores at NSE. It touched a high of Rs 3129 per share which was the 20% upper circuit limit.

The Market Capitalization of the Company post today’s closing price stands at Rs. 14,835 crores as per BSE data.

About Indigo Paints Ltd:
Indigo Paints is amongst the fastest growing among the top five paint companies in India. It is the fifth largest company in the Indian decorative paint industry in terms of revenue from operations for Fiscal 2020 (Source: F&S Report). Headquartered in Pune, Indigo Paints offers a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints. As on September 30, 2020, the Company owns and operates 3 manufacturing facilities located in Jodhpur (Rajasthan), Kochi (Kerala), Pudukkottai (Tamil Nadu). These facilities had an aggregate installed production capacity of 101,903 kilo litres per annum (“KLPA”) for liquid paints and 93,118 metric tonnes per annum (“MTPA”) for putties and powder paints as of September 30, 2020. The Company has an extensive distribution network across 27 states and 7 union territories as of September 30, 2020.
 
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