Indigo Paints shares rise round 7 per cent

The shares of Indigo Paints prolonged their opening day features and rose round 7 per cent increased within the early morning commerce on Wednesday.
The scrip of the Pune-based paint maker rose 7.35 per cent to Rs 3,348.00 on the BSE whereas on NSE it touched Rs 3,329.95, rising 6.83 per cent within the course of.
So far within the day, over 11.87 lakh shares have been traded on NSE whereas over 1.46 lakh shares exchanged palms on BSE.

The ornamental paints producer made a stellar debut within the inventory markets on Tuesday because it bought listed at a premium of 75 per cent in opposition to the difficulty worth of Rs 1,490. The inventory nonetheless didn’t cease there and hit a 20 per cent higher circuit on the primary day.
Indigo Paints IPO had acquired a strong demand throughout its provide interval from January 20-22. The concern was oversubscribed by 117.02 instances.

The firm raised Rs 1,170 crore from the difficulty which might be used to broaden the corporate’s present manufacturing facility at Pudukkottai in Tamil Nadu, buying tinting machines and gyro shakers and compensation/prepayment of borrowings.