Indigo Paints IPO: From size, face value, listing, all other issue details here | EXPLAINED

Indigo Paints is one of the fastest-growing paint companies in India and in terms of revenue, it is the 5th largest company in the decorative paint industry. Indigo Paints is engaged in manufacturing different types of decorative paints like enamels, emulsions, wood coatings, primers, distempers, putties, and cement paints.

Indigo Paints Issue Details:

Indigo Paints intends to raise Rs 300 cr via OFS (of 58.4 lk shares). Indigo Paints Face value of the share is Rs 10 per share. Total Indigo Paints IPO size and lot size details are still awaited. Indigo Paints listing will be on NSE, BSE.

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Promoters of Indigo Paints – Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited.

Indigo Paints identifies potential product needs from customers and introduces differentiated products to meet these requirements. Revenue generated from sales of Indigo Differentiated Products represented 26.68%, 27.58%, and 28.62% of its total revenue from operations in FY2018, FY2019 and FY2020, respectively.

Indigo Paints is the first company that started manufacturing certain differentiated products like Metallic Emulsions, Bright Ceiling Coat Emulsions, Tile Coat Emulsions, Dirtproof & Waterproof Exterior Laminate, Floor Coat Emulsions, Exterior and Interior Acrylic Laminate, and PU Super Gloss Enamel. The sales from these differentiated products are continuously growing as it was 26.68% in 2018 and increased to 28.62% in fiscal 2020.

Indigo Paints has a strong market network with dealers in Tier 1, Tier 2, and Metros as well. It has 3 manufacturing facilities situated in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu). It is further looking to expand its manufacturing capacities at Pudukkottai to manufacture water-based paints.

Indigo Paints Strengths:

1) Large product portfolio with differentiated products
2) Well-proven, and consistent growth track record
3) Strong brand equity, Extensive network distribution
4) Strategically located manufacturing facilities