Indigo Paints IPO allotment at the moment: How to examine standing, gray market premium, itemizing date and extra

Image Source : INDIGO PAINTS LOGO/INDIA TV Indigo Paints IPO allotment at the moment
The allotment of Rs 1,170 crore preliminary public provide (IPO) of Indigo Paints might be introduced on January 28 (Thursday). The Indigo Paints IPO market lot dimension is 10 shares. The value band was fastened at Rs 1,488-1,490 a share for the preliminary share-sale.

The IPO garnered an awesome response from buyers and was subscribed 117.02 instances. It obtained bids for 64.58 crore shares in opposition to a proposal dimension of 55.18 lakh shares.

Initiation of refunds will start on January 29 and shares might be credited to demat account on February 1. The itemizing is anticipated on February 2. 

Indigo Paints gray market premium

According to studies, Indigo Paints shares have been commanding a gray market premium of Rs 895-900 (60 per cent) at Rs 2,390 apiece over the difficulty value. Indigo Paints shares have been quoting a GMP of Rs 750 apiece over the IPO value final week.

The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 189.57 instances, whereas that of non-institutional investor class obtained 263.05 instances subscription and retail portion was subscribed 15.93 instances. From anchor buyers, Indigo Paints mopped up Rs 348 crore.

The Rs 1,170.16-crore IPO includes recent issuance of shares aggregating to Rs 300 crore and an offer-for-sale of as much as 58.40 lakh fairness shares by personal fairness agency Sequoia Capital, via its two funds SCI Investments IV and SCI Investments V, and promoter Hemant Jalan.

Proceeds from the recent issuance of shares can be used for growth of the present manufacturing facility at Pudukkottai in Tamil Nadu, buying of tinting machines and gyro shakers, and compensation/prepayment of borrowings.

Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities are the e book working lead managers to the difficulty.

The Pune-based firm manufactures a variety of ornamental paints and has an intensive distribution community throughout the nation. As of September 30, 2020, the corporate had three manufacturing services situated in Rajasthan, Kerala and Tamil Nadu.
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