Indigo Paints will be opening its IPO for subscription on Jan 20, 2021 and it will comprise fresh issue of 300 crore equity shares and an offer for sale of Rs.58.40 lakh equity shares from promoters & investors.
- The promoters include Sequoia Capital, SCI Investments V and Hemant Jalan.
- 70,000 shares are reserved for eligible employees and the IPO will close down on Jan 22, 2021.
- The fixed price per share is Rs.1480-1490 and the minimum lot is of 10 equity shares in the multiple of 10.
According to the reports the company will use the funds for the expansion of their manufacturing facilities, especially Pudukkottai plant in Tamil Nadu. It also plans to purchase tinting machines, gyro-shakers and repay old loans and set up a new facility to meet the increasing demand.
