INDIGO PAINTS LIMITED IPO

Indigo Paints started in the year 2000. The company started its business with the manufacturing of lower-end cement paints. After some time, it expanded its range to cover more segments of water-based paints like Distempers, Primers, Exterior Emulsions, Interior Emulsions, etc. From an early stage, the company expanded its footprints across the country with its extensive distribution network. Now, Indigo paints is one of the strongest players in the Indian Paint Industry known for offering innovative & unique products in the industry.

Indigo paints is the 5th largest company in the Indian Paint Industry as per the sales numbers for FY 2019-20. The company has expanded its business across the country with a distribution network in 27 states and 7 UTs.

Indigo paints have 74% of the market share in India in the segment of decorative paints which include wall finishes for interior & exterior use, wood finishes, enamels, primers, etc. The company’s decorative paints segment has grown at a CAGR of 11.5% from the fiscal year 2014 to 2019.

The philosophy of the company has been to set new strategies, market research fundamentals, and innovative product development to stand out in its own class from its competitors.

The Sequoia Capital-backed Indigo Paints has received approval from SEBI to raise around Rs.1,000 crores through fresh issuance of Rs.300 crores worth of shares and an offer for sale of 58,40,000 equity shares by PE Firm Sequoia Capital through 2 of its funds.

Promoters of the company are Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan, and Halogen Chemicals Private Limited.

Strengths of the company:

• The company has a good track record of consistent growth in the industry.
• The company offers differentiated products leading to good brand recognition and expansion through a wide range of paint products.
• The company has an extensive distribution network for good brand penetration.
• The company has a management team of well-qualified experts & professionals enabling sound management.
• The company is the fastest-growing company among the Top 5 companies in the Indian paint industry.
• It has strategically located manufacturing facilities with proximity & easy access to raw materials for its production activities.

Purpose of the IPO:

• To purchase tinting machines and gyro shakers.
• To make repayments or prepayment of all or some portion of its borrowings.
• For funding the capital expenditure used in the expansion of the existing manufacturing facility in Pudukkottai, Tamil Nadu by setting-up an additional unit along with the existing facility.
• To meet the general corporate purposes.

Financial Performance of the company:

*All the values are in crores and as per DRHP.

Valuation of the company:

*as per DRHP

Indigo Paints DRHP

IPO details:

Important IPO dates:

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