Sequoia Capital-backed Rs 1,170-crore Indigo Paints initial public offer (IPO), which received a robust response from investors across all investors, is likely to finalise the basis of share allotment on January 28, 2021
Firms operating under the Capital good space could be the beneficiaries of this theme ahead of the Union budget.
Sequoia Capital-backed Rs 1,170-crore Indigo Paints initial public offer (IPO), which received a robust response from investors across all investors, is likely to finalise the basis of share allotment on January 28, 2021. During the three-day bidding process, the issue was subscribed 117 times, becoming the most subscribed IPO of the calendar year 2021. The shares of Indigo Paints are expected to be listed just a day after the Union Budget 2021. Indigo Paints shares were commanding a grey market premium of Rs 895-900 or 60 per cent at Rs 2,390 apiece over the issue price. Last week, Indigo Paints shares were quoting a premium of Rs 750 apiece over the IPO price in the grey market. The IPO had received bids for 64.58 crore shares against an offer size of 55.18 lakh shares. It had also mopped up Rs 348 crore from anchor investors just ahead of the IPO.
Those who had placed bids for Indigo Paints issue can check the subscription status on the registrar’s website, i.e. from Link Intime India, a SEBI-registered entity responsible for the IPO allotment and refund processing, and from BSE website. Manthan Mehta, Head Unlisted & Private Equity Rurash Financial Services Pvt Ltd, told Financial Express Online at Indigo Paints has a strong presence amongst peers. Mehta maintained a positive outlook on Indigo Paints, as it is commanding a valuation of 142x of FY20 EPS and 125x of FY21E EPS at the upper price band of Rs 1490 apiece. “We advise investors to add in Indigo Paints in the investment portfolio, as the company seems to have the ability to create value for its investors just like Asian Paints had rewarded its long-term investors. Mehta expects Indigo Paints stock to debut at Rs 2,380 on listing day.
How to check Indigo Paints share allotment status via Link Intime India’s website
To check the share allotment status, select the company name as ‘Indigo Paints – IPO’ from the drop-down list on Link Intime India website when it gets declared. Check box either PAN, Application Number or Depository/Client ID. Accordingly, enter a permanent account number or Application Number or Depository/Client ID in the box. Enter the given captcha in the provided space and click the submit button.
Check Indigo Paints share allotment status via BSE website
Another way to check the allotment status in Indigo Paints is through BSE website (https://www.bseindia.com/investors/appli_check.aspx). Select the issue type as ‘equity’, and the issue name as ‘Indigo Paints’ from the drop-down list, when it gets declared. After that enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.