Indigo Paints

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Indigo Paints Limited
Traded as
ISININE09VQ01012
IndustryChemicals
Founded2000; 25 years ago (2000)
Founder(s)Hemant Jalan
(Managing Director & Chairman)
HeadquartersPune, Maharashtra, India
Key people
Products
RevenueIncrease ₹600 crore (US$69 million) (2019)[2]
Number of employees
650[3] (2021)
Websiteindigopaints.com

Indigo Paints Limited is an Indian paint company that is headquartered in Pune, Maharashtra, and has three manufacturing facilities that are located at Jodhpur, Kochi and Pudukkottai.[4][5] The company is engaged in manufacturing, selling and distribution of decorative paints, emulsions, enamels, wood coatings, distemper, primers, putties and cement paints.[6]

History[edit]

In 2000, Hemant Jalan founded Indigo Paints to manufacture cement paint; by 2021 the company scaled up to become the fifth largest player in terms of revenue generation in the decorative paint industry.[7][8] In December 2019, Jalan stated that the company had established a distribution network across 27 states and seven union territories.[5][9][10] In 2018, Mahendra Singh Dhoni became the company’s brand ambassador.[11] In 2014, Sequoia Capital first invested ₹55 crore in the firm and later in 2016, an additional ₹95 crore in 2016.[5] In 2021, as a part of its IPO, the firm raised ₹348 crore from 25 anchor investors including the Government of Singapore, Fidelity, Goldman Sachs, Nomura, HSBC, Pacific Horizon Investment Trust, SBI Mutual Fund, ICICI Prudential Mutual Fund and Axis Mutual Fund.[12]

Initial public offering[edit]

On January 20, 2021, Indigo Paints launched its initial public offering of about 1170 crores; the price band was fixed at ₹1,488-1,490 apiece.[10] The issue was oversubscribed by 117 times.[10][13] On February, 2 2021, Indigo Paints Limited made its debut on the NSE and the BSE at a price of ₹2,607.5 per share, a 75 percent premium over its issue price of ₹1,490.[14][15][16] On the listing day, the stock further surged 20% over its listing price to hit the upper circuit at ₹3,129 per share.[1]

References[edit]

  1. ↑ 1.0 1.1 1.2 "What Indigo Paints management told analysts ahead of IPO". Economic Times. January 15, 2021. Retrieved April 13, 2021.
  2. ↑ Narasimhan, T.E. (December 9, 2019). "Indigo Paint's IPO may fetch 3.5x returns for Sequoia in partial exit". Business Standard. Retrieved April 12, 2021.
  3. ↑ Nair, Geeta (March 17, 2021). "Bumper IPO: Indigo Paints creates wealth for employees". Financial Express. Retrieved April 12, 2021.
  4. ↑ "Indigo Paints growth rate to beat industry for many years to come: Hemant Jalan". The Economic Times. January 20, 2020. Retrieved April 26, 2021.
  5. ↑ 5.0 5.1 5.2 Law, Abhishek (June 24, 2019). "Indigo Paints plans to raise up to ₹800 crore via IPO". Business Line. Retrieved April 13, 2020.
  6. ↑ "Indigo Paints hits lowest level since listing, slips 29% from all-time high". Business Standard. March 17, 2021. Retrieved April 7, 2021.
  7. ↑ Srivastava, Samar (July 23, 2018). "Indigo Paints: Adding colours with a new brush". Forbes. Retrieved April 7, 2021.
  8. ↑ Sarkar, John (December 8, 2019). "We are aiming for Rs 3,000 crore in five years: MD Indigo Paints". The Times Of India. Retrieved April 7, 2021.
  9. ↑ Matkar, Sunil (January 20, 2021). "Indigo Paints IPO worth Rs 1,170 crore opens today: Should you subscribe?". Moneycontrol.com. Retrieved April 7, 2021.
  10. ↑ 10.0 10.1 10.2 D'Souza, Sharleen (January 19, 2021). "Indigo Paints IPO: Here's All You Need To Know". Bloomberg. Retrieved April 12, 2021.
  11. ↑ Laghate, Gaurav (June 15, 2018). "Indigo Paints signs MS Dhoni as brand ambassador; plans Rs 240 crore ad spend over 3 years". The Economic Times. Retrieved April 7, 2021.
  12. ↑ "Indigo Paints raises Rs 348 crore from 25 anchor investors ahead of IPO". Moneycontrol.com. January 20, 2021. Retrieved April 13, 2021.
  13. ↑ "Indigo Paints IPO subscribed over 50 times so far on final day". Mint. January 19, 2021. Retrieved April 12, 2021.
  14. ↑ D'Souza, Sharleen (February 2, 2021). "Indigo Paints Shares Double Over IPO Price On Market Debut". Bloomberg. Retrieved April 12, 2021.
  15. ↑ "Indigo Paints shares listing on BSE, NSE today: Grey market premium strong, bumper debut likely". India TV. February 2, 2021. Retrieved April 7, 2021.
  16. ↑ Bhargava, Kshitij (February 2, 2021). "Indigo Paints shares hit 20% upper circuit after bumper debut; total listing day gains touch 110%". Financial Express. Retrieved April 7, 2021.

External links[edit]

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