Indigo Paints IPO allotment today: Here’s how you can check

The allotment of Rs 1,170 crore initial public offer (IPO) of Indigo Paints will be announced on January 28 (Thursday). The Indigo Paints IPO market lot size is 10 shares. The price band was fixed at Rs 1,488-1,490 a share for the initial share-sale.

According to data from the stock-exchanges, the issue from the government-owned company received bids for 64 crore equity shares against the offered size of 55 lakh equity shares.

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Subscribed 117 times, the IPO of Indigo Paints which had opened on 20th January and closed on 22 January had seen an overwhelming response from investors and was subscribed 117.02 times. It received bids for 64.58 crore shares against an offer size of 55.18 lakh shares. The shares are likely to be listed on February 2, 2021.

How to check the allotment status?

  • Open bseindia.com
  • Click on ‘Status of Issue Application’ on the homepage
  • Select ‘Equity’ in Issue Type
  • Select ‘Indigo Paints’ in Issue Name
  • Enter the Application No. and PAN No.
  • After entering all the details, click on the Search button

The results will pop up on your screen.

The Rs 1,170.16-crore public issue comprises of Rs 300 crore of fresh issuance of shares and Rs 870.16 crore of offer-for-sale by promoter Hemant Jalan and investors (Sequoia Capital India Investments IV and SCI Investments V).

The IPO was priced at Rs 1,488 to Rs 1,490 per equity share and was open for public subscription from January 20-22. The minimum order quantity was 10 shares and retail investors could apply for up to 13 lots. The share sale had received an overwhelming response from investors and was subscribed 117 times. The company had garnered Rs 347.9 crore from 25 anchor investors ahead of the share sale.

Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities are the books running lead managers to the issue.

The Pune-based company manufactures a range of decorative paints and has an extensive distribution network across the country. As of September 30, 2020, the company had three manufacturing facilities located in Rajasthan, Kerala and Tamil Nadu.