Indigo Paints Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 3,891,710 (50%) | — | ₹57,986 Cr |
| NII (HNI) | — | 1,167,514 (15%) | — | ₹17,396 Cr |
| Retail | — | 2,724,198 (35%) | — | ₹40,591 Cr |
| Employee | — | 70,000 (1%) | — | ₹104 Cr |
| Σ Total | — | 7,853,422 (100%) | — | ₹1,170,160 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 10 | ₹14,900 |
| Retail (Max) | 13 | 130 | ₹193,700 |
| S-HNI (Min) | 14 | 140 | ₹208,600 |
| B-HNI (Min) | 67 | 670 | ₹998,300 |
Financial Statements Amount in Crore
| Metric | 30-Sept-20 | 31-Mar-20 | 31-Mar-19 |
|---|---|---|---|
| Revenue | 260 | 626 | 537 |
| Profit After Tax | 27 | 48 | 27 |
| Total Assets | 411 | 422 | 373 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Funding capital expenditure for the Proposed Expansion – 150.00
- 2 Purchase of tinting machines and gyroshakers – 50.00
- 3 Repayment/prepayment of all or certain of our borrowings – 25.00
- 4 General corporate purposes – 61.16
Company Overview
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.