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INDIGO PAINTS IPO

INDIGO PAINTS LIMITED IPO (Indigo Paints IPO)

Indigo Paints Ltd is a Pune based Paint Company, incorporated in the millennium year 2000. It was originally a Private Limited Company, namely Indigo Paints Private Limited. However, in the year of the pandemic, 2020 it has changed its status to Public Limited now known as Indigo Paints Limited. The Company’s main object includes the manufacturing of paints and they claim to be the fifth largest company in the decorative paint industry. Also, they believe that the achievement of success, in such a competitive environment, is because of their skills in materializing various elements which include introduction of distinguished products to create a diverse market in the paint industry, building brand parity for their primary consumer brand, creating an far-reaching distribution network and installing tinting machines across their dealer

Opening20 Jan, 2021
Closing22 Jan,2021
Issue TypeBook Built Issue
Issue Size7783422
Offer For Sale ComprisesUp to
5,840,000 Equity Shares, totaling up to Rs.__
Face Value Per Share10 Rs.
Price Band1488 to 1490
Minimum Order Quantity10 Shares
Listing AtBSE, NSE

Objective of issue IPO

  • To financing of the capital expenditure of their manufacturing unit in Pudukkottai, Tamil Nadu, wherein, they want to establish a unit complimenting their existing unit.
  • They also want to purchase several tinting machines and gyro-shakers.
  • As any expanding business, they have borrowed money which they wish to start repaying.
  • Lastly, the entity has clarified in their prospectus that the net proceeds will be utilized for general corporate purposes to a limit of 25% of the Net Proceeds.

Company Financial Records

ParticularsAs at 31 Mar,2018 (Proforma)As at 31 Mar,2019As at 31 Mar,2020As at 30 Sep ,2019As at 30 Sep ,2020
Total Assets2973.943731.834219.593767.134112.91
Total Liabilities1699.332257.202249.062214.421869.18
Net Profit
*Source: DRAFT RED HERRING PROSPECTUS, Dated: December 11, 2020

Details of Company Promoters

The Promoter of the Company are:

  • HEMANT JALAN
  • ANITA JALAN
  • PARAG JALAN
  • KAMALA PRASAD JALAN
  • TARA DEVI JALAN &
  • HALOGEN CHEMICALS PVT. LTD.

 IPO Lead Manager(s)

  • Kotak Mahindra Capital Company Limited
  • Edelweiss Financial Services Limited
  • ICICI Securities Limited
Company Contact Information
Shri. Sujoy Bose is the Company Secretary and Compliance Officer of Indigo Paints.
His contact details are as follows:
Address:
Indigo Tower
Street-5, Pallod Farm-2
Baner Road, Pune- 411 045
Maharashtra, India
Landline: +91 20 6681 4300
E-mail: secretarial@indigopaints.com | Website: www.indigopaints.com
IPO Registrar
Link Intime India Private Limited
Email: indigopaints.ipo@linkintime.co.in

Fun Fact

  • The Company’s decorative paints’ section holds around 74% of the overall paint market in India and includes wall finishes for the interior and exterior usage, enamels, wood finishes and ancillary products such as primers and putties.
  • The decorative segment has grown at a Compound Annual Growth Rate or CAGR of 11.5% from Fiscal 2014 to Fiscal 2019, driven by the increase in consumption of paints in Tier 2 – 4 Cities that account for nearly half the total sales.
  • The Indian decorative paints market is expected to grow at a CAGR of approximately 13% in terms of value and 10.2% in terms of volume through 2024.

How to apply IPO

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BIBLIOGRAPHY

DRAFT RED HERRING PROSPECTUS, dated 11.12.2020.

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