Indigo Paints, upheld by Sequoia Capital-supported on Thursday, said that it had fixed a value band of Rs 1,488-1,490 an offer for its underlying offer deal, which is set to open for public membership on January 20.

The IPO contains new issuance of stocks totalling to Rs 300 crore and an offer-available to be purchased of up to 58,40,000 value shares by private value firm Sequoia Capital, through its two assets — SCI Investments IV and SCI Investments V — and advertiser Hemant Jalan.

The three-day first sale of stock (IPO) will finish up on January 22. The anchor speculators’ bit will be open for membership on January 19, Indigo Paints said in a virtual question and answer session.

At the upper finish of the value band, the public issue must get Rs 1,170.16 crore, which contains Rs 300 crore through new issuance of offers and Rs 870.16 crore through offer-available to be purchased.

A big part of the issue is held for qualified institutional purchasers, 35 per cent for retail financial specialists, 15 per cent for non-institutional bidders and there is a booking of up to 70,000 value shares for membership for representatives, who will get a rebate of Rs 148 for every value offer to the offer cost.

Continues from the new issuance of offers would be utilized to extend the current assembling office at Pudukkottai in Tamil Nadu to buy colouring machines and gyro shakers and reimbursement/prepayment of borrowings.

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

The Pune-based organization fabricates a scope of decorative paints and has a broad dissemination network the nation over.

As of September 30, 2020, the organization has three assembling offices situated in Rajasthan, Kerala and Tamil Nadu.

Leave a comment

Leave a Reply Cancel reply