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Indigo Paints will use the IPO proceeds to expand its facility at Pudukkottai in Tamil Nadu
The allotment of shares in the Indigo Paints IPO, which was open for bidding between January 20 and January 22, is likely to be finalised today i.e. January 28. The Sequoia Capital-backed Indigo Paints had fixed the price band of its Rs 1,170.16 crore offering at Rs 1,488-1,490 a share and the IPO was subscribed by 117 times. The shares are likely to be listed on the BSE Sensex and NSE Nifty on February 2, 2021.
The IPO comprised fresh issue of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital and promoter Hemant Jalan.
Indigo Paints will use the IPO proceeds to expand its manufacturing facility at Pudukkottai in Tamil Nadu, buy tinting machines and gyro shakers, and repay / prepay borrowings.
Edelweiss Financial Services, ICICI Securities and Kotak Mahindra Capital Company are the lead managers of Indigo Paints IPO.
Here’s how to check the share allotment status of Indigo Paints IPO
Access the website of the registrar, Link Intime India
- Select the IPO i.e. Indigo Paints
- Provide a PAN ID or application ID or client ID and DPID (depository participant identification)
- Click on ‘Submit’
Open the website of BSE India – bseindia.com
- Click on ‘Status of Issue Application’
- Select ‘Equity’ in Issue Type
- Choose ‘Indigo Paints’ in Issue Name
- Enter the Application No. and PAN No.
- Click on the Search button
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