Indigo Paints more than doubles investor monies on IPO listing

Indigo Paints Ltd.’s shares were on Tuesday got listed on the BSE and NSE at ₹2,607, a 75% premium. The shares closed at ₹3,118.65, up 109% from issue price.

The initial public offering of the company was made at higher price band of ₹1,490 per share and was subscribed over 117.02 times.

On the day of listing its share price hit the upper circuit of 20% at ₹3,129 before correcting slightly.

A total of 10.36 lakh shares were traded with a delivery quantity of 4,65,803 (44.98%). The turnover at BSE was ₹281.05 crore.

At NSE, 1,26,52,036 shares were traded with a delivery quantity of 54,56,304 (43.13%). The turnover at NSE was ₹3,396 crore.

Hemant Jalan, Chairman & Managing Director, Indigo Paints Ltd., said, “We are overwhelmed with the tremendous response and we commit to outperform in the paints industry by continuing the tradition of the first-movers in the market amongst our ompetitors.”

The market capitalisation of the company post the closing price stands at ₹14,835 crore as per BSE data.

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