Indigo Paints IPO: Issue subscribed 117 times

The recently launched public offering from the decorative paint manufacturer Indigo paints have got a massive response from investors. The public issue was subscribed 117 times till the final day of bidding. The bidding was for over 64.57 crore equity shares against the IPO size of 55.18 lakh shares.

The portion which was set aside for qualified institutional investors was subscribed a whopping 189.6 times and that of non-institutional buyers was subscribed 263 times of the issue size.

Indigo paints raised 248 crores via anchor book on 19th January 2021 at the higher end of the price band of Rs 1488-1490 per share.

The issue consisted of a fresh issue of around Rs 300 crore and an offer for sale of Rs 58.40 lakh shares by investors and promoters.

‍