Indigo Paints announces launch of initial public offering
13/01/2021 13:01
Indigo Paints Ltd. has announced public offering of 7840000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 1,490.00 per share. The gross proceeds of the issue are expected to be Rs 1,17,600.00 lakhs.

The company's initial public offer (IPO) will open on 20 January 2021 and is expected to close on 22 January 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 1,480.00-1,500.00 per share.

The IPO includes a fresh Issue of 7840000 Equity Shares of the Company at an price of Rs 1,500.00 per Equity Share. The company has fixed the minimum bid lot for the issue at shares with bids in multiples of .

Indigo Paints Ltd. anticipates using the proceeds of the issue for Funding capital expenditure for expansion of the existing manufacturing facility at Pudukkottai, Tamil Nadu (the “Proposed Expansion) by settingup an additional unit (the “Additional Unit) adjacent to the existing facility, Purchase of tinting machines and gyroshakers, Repayment/prepayment of all or certain of the borrowings, General corporate purposes.

Edelweiss Financial Services Ltd.,Kotak Mahindra Capital Company Ltd.,ICICI Securities Ltd as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.