Indigo Paints raises Rs 348 crore from 25 anchor traders ahead of IPO


Amongst home institutions, SBI MF, HDFC MF, ICICI Prudential MF, Nippon MF, Axis MF, Aditya Birla Solar Existence and Motilal MF received shares of the firm through anchor guide.

January 20, 2021 / 05: 14 PM IST

American endeavor capital firm Sequoia Capital-backed Indigo Paints, on January 19, garnered Rs 347.9 crore from 25 anchor traders ahead of its preliminary public offering (IPO), that opens for subscription on January 20.

The firm instantaneous exchanges that it has finalised the allocation of 23,35,020 equity shares to anchor traders, at a mark of Rs 1,490 apiece, the increased stay of mark band.

Marquee names which participated in the anchor guide integrated Authorities of Singapore, Smallcap World Fund, Fidelity, Goldman Sachs, Authorities Pension Fund Global, Nomura, HSBC, Pacific Horizon Funding Have confidence, Carmignac Portfolio, Theleme Master Fund, Matthews India Fund, Jupiter and Virtus Kar Emerging Markets Shrimp-Cap Fund.

Amongst home institutions, SBI MF, HDFC MF, ICICI Prudential MF, Nippon MF, Axis MF, Aditya Birla Solar Existence and Motilal MF received shares of the firm through anchor guide.

Indigo Paints, seemingly the most fastest increasing amongst the pinnacle five paint companies in India, targets to purchase Rs 1,170 crore through its IPO.

Indigo Paints IPO opens the next day: 10 key things it's principal to tranquil know

The IPO contains a recent field of Rs 300 crore by the firm and an offer in the marketplace of 58,40,000 equity shares by promoter Hemant Jalan and traders (Sequoia Capital India Investments IV and SCI Investments V).

The worth band for the topic, which is spicy to terminate on January 25, has been fixed at Rs 1,488-1,490 per fragment.

The fifth largest firm in the Indian ornamental paint alternate will utilise the recent field funds for enlargement of the present manufacturing facility at Pudukkottai, Tamil Nadu by atmosphere up a further unit adjacent to the current facility (Rs 150 crore); ranking of tinting machines and gyroshakers (Rs 50 crore); repayment sure of borrowings (Rs 25 crore); and customary corporate purposes.

Equity shares are proposed to be listed on the BSE and NSE. Kotak Mahindra Capital Firm, Edelweiss Monetary Companies and products and ICICI Securities are the guide working lead managers to the offer.

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