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Indigo Paints finalised IPO share allotment, here is how to check the application status

The company will list its equity shares on bourses on February 2

January 29, 2021 / 01:56 PM IST
 
 
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Indigo Paints has finalised its IPO share allotment. Investors can check their application status in a few easy steps on the website of IPO's registrar.

Select the company (Indigo Paints); enter either PAN Number, Application Number, DP/Client ID, or Account Number along with IFSC code, enter the Captcha available next to the box and click on Submit to get the actual result.

You can also check the allotment status on the BSE Website. Select Issue Type (Equity), select Issue Name (Indigo Paints), enter application Number and PAN Number and click on Search.

Indigo Paints will start the process of unblocking of funds from ASBA account on January 29 and shares allotted in the issue will get credited to the demat accounts of eligible investors around February 1.

The company will list its equity shares on bourses on February 2, as per the schedule available in the prospectus.

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Indigo Paints, the fifth-largest company in the Indian decorative paint industry in terms of revenue from operations for FY20, closed its Rs 1,170-crore public issue with a subscription of 117 times on January 22.

The offer, which opened for subscription on January 20, comprised of a fresh issue of Rs 300 crore and an offer for sale of Rs 870.16 crore worth shares by promoter (Hemant Jalan) and investors (Sequoia Capital India Investments IV and SCI Investments V).

Eligible employees, for whom the company reserved 70,000 shares, will receive shares at a discount of Rs 148 per share against the IPO price band of Rs 1,488-1,490 per share.

Indigo Paints has three manufacturing facilities - Jodhpur, Kochi and Pudukkottai - with an aggregate production capacity of 1,01,903 KLPA of liquid paint and 93,118 MTPA of putties and powder paints.

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The company will utilise the net fresh issue funds for expansion of the existing manufacturing facility at Pudukkottai, Tamil Nadu by setting up an additional unit adjacent to the existing facility (Rs 150 crore), purchase of tinting machines and gyroshakers (Rs 50 crore), and repayment certain of borrowings (Rs 25 crore).

Indigo Paints shares traded at a premium of Rs 640-650 in the grey market, i.e. Rs 2,130-2,140 against the offer price of Rs 1,490 per share, the data available on IPO Watch and IPO Central showed.
Moneycontrol News
first published: Jan 29, 2021 01:56 pm

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