Indigo Paints IPO allotment to be announced on January 28
The share allotment for Indigo Paints initial public offering (IPO) is likely to be finalised on January 28. The listing of the Sequoia Capital-backed company’s IPO is likely to take place on February 2. In the second initial public offer this year, the IPO of the company received a massive response from investors on the last day of subscription as the issue was subscribed 117 times. When the IPO closed for subscription on January 22, it was the most subscribed IPO of the year till now.
Here’s everything you need to know about the Indigo Paints IPO allotment:
1. Indigo Paints is the fifth-largest company in the paint industry in terms of the revenue from operations for fiscal year 2020 and has an extensive distribution network across 27 states and seven union territories.
2. The IPO which is worth ₹1170 crore included fresh issue of shares worth ₹300 crore and offer-for-sale (OFS) of up to 58.40 lakh equity shares by private equity firm Sequoia Capital and promoter Hemant Jalan.
3. The retail portion of the issue has been subscribed 16 times, while the portion reserved for Qualified Institutional Buyers (QIBs) has been subscribed 189.57 times. In the case of the non-institutional investor category the issue was subscribed 263.05 times.
4. The registrar for the public issue is Link Intime India.
5. The equity shares will be listed on both the exchanges: BSE and NSE.
How to check allotment status
To check for the allotment status on the stock-exchange website:
• Go to the BSE website or NSE website.
• Select ‘Equity’ and then select ‘Indigo Paints.’
• Enter application number and PAN and hit ‘Search’.
To check on the Link Intime India Private Ltd website:
• Click on ‘Company selection’ and click on ‘Indigo Paints IPO.
• Enter either PAN detail, the application number, or client ID.
• Enter the captcha and click ‘submit.’
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