Indigo Paints to come up with its IPO on January 20. All you need to know

For the initial share sale ₹1,488- ₹1,490 has been set as the price band. The public issue would get ₹1,170.16 crore at the upper end of the price band.

Indigo Paints is coming up with its initial public offering (IPO) this week. The company ranks fifth in the decorative paints industry in India. The public offering that will list Indigo Paints on National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange (BSE) is scheduled to release on January 20, 2021.

The IPO consists of fresh stocks of up to ₹300 crore and an offer-for-sale of up to 58,40,000 equity shares.(iStock)

Here's all you need to know about the Indigo Paints IPO:

1. The IPO consists of fresh stocks of up to ₹300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital, via its funds Sequoia IV and SC II V and promoter Hemant Jalan.

2. For the initial share sale ₹1,488- ₹1,490 has been set as the price band. The public issue would get ₹1,170.16 crore at the upper end of the price band.

3. The company has reserved 70,000 equity shares for employee subscription with a discount of ₹148 per equity share to the offer price.

4. Thirty-five per cent of the issue is reserved for retail investors, while 15 per cent is for non-institutional bidders, while half the issue is for qualified institutional buyers.

10. The company had earned restated profit before tax of ₹674.27 million for the year ending March 31, 2020.

(With agency inputs)