>DGG at 22:07, 27 May 2021

2021-05-27T22:07:18Z

New page

{{Infobox company
|name = Indigo Paints Limited
|logo =
|type = [[Public company|Public]]
| traded_as = {{plainlist|
*{{BSE|543258}}
*{{NSE|INDIGOPNTS}}
}}
|ISIN = INE09VQ01012
|industry = [[Chemical industry|Chemicals]]
|foundation = {{Start date and age|2000}}
|founder = Hemant Jalan<br>([[Managing Director]] & [[Chairman]])
|hq_location = [[Pune]], [[Maharashtra]], [[India]]
|products = {{plainlist|
*[[Paints|Exterior and Interior paints]]
*[[Enamel paint|Enamel Paints]]
*[[Wood preservation|Wood Coatings]]
*[[Putty|Putties]]
*[[Primer (paint)|Primers]]}}
|revenue = {{increase}} {{INRConvert|600|c}} (2019)<ref>{{cite news|last=Narasimhan |first=T.E. |date=December 9, 2019 | title= Indigo Paint's IPO may fetch 3.5x returns for Sequoia in partial exit | url= https://www.business-standard.com/article/companies/indigo-paint-s-ipo-may-fetch-3-5x-returns-for-sequoia-in-partial-exit-119120900436_1.html |publisher=[[Business Standard]]|accessdate= April 12, 2021}}</ref>
|operating_income =
|net_income =
| key_people = {{plainlist|
*Chetan Humane <br>([[Chief Financial Officer]])<ref name="keypeople">{{ cite news| date=January 15, 2021 | title= What Indigo Paints management told analysts ahead of IPO | url= https://economictimes.indiatimes.com/markets/ipos/fpos/what-indigo-paints-management-told-analysts-ahead-of-ipo/articleshow/80283286.cms |publisher=[[The Economic Times|Economic Times]]|accessdate=April 13, 2021}}</ref>
*Suresh Babu <br>([[Chief Operating Officer]])<ref name="keypeople" />
}}
|num_employees = 650<ref>{{ cite news |last=Nair |first=Geeta |date=March 17, 2021 |title= Bumper IPO: Indigo Paints creates wealth for employees |url= https://www.financialexpress.com/market/bumper-ipo-indigo-paints-creates-wealth-for-employees/2214195/ |publisher=[[The Financial Express (India)|Financial Express]] |accessdate=April 12, 2021}}</ref>
|num_employees_year = 2021
|homepage = {{URL| https://indigopaints.com/}}
}}

'''Indigo Paints Limited''' is an Indian paint company that is headquartered in [[Pune]], [[Maharashtra]], and has three manufacturing facilities that are located at [[Jodhpur]], [[Kochi]] and [[Pudukkottai]].<ref>{{ cite news| date=January 20, 2020 | title= Indigo Paints growth rate to beat industry for many years to come: Hemant Jalan | url= https://economictimes.indiatimes.com/markets/expert-view/indigo-paints-growth-rate-to-beat-industry-rate-for-many-years-to-come-hemant-jalan/articleshow/80365662.cms |publisher=[[The Economic Times]]|accessdate=April 26, 2021}}</ref><ref name="HBL">{{cite news|last=Law |first=Abhishek |date=June 24, 2019 | title=Indigo Paints plans to raise up to ₹800 crore via IPO | url= https://www.thehindubusinessline.com/markets/indigo-paints-plans-to-raise-up-to-800-crore-via-ipo/article28127354.eceml |publisher=[[Business Line]]|accessdate=April 13, 2020}}</ref> The company is engaged in manufacturing, selling and distribution of decorative paints, emulsions, enamels, wood coatings, [[Distemper (paint)|distemper]], [[Primer (paint)|primers]], [[putty|putties]] and cement paints.<ref>{{ cite news| date=March 17, 2021 | title= Indigo Paints hits lowest level since listing, slips 29% from all-time high | url= https://www.business-standard.com/article/markets/indigo-paints-hits-lowest-level-since-listing-down-29-from-high-121031700380_1.html |publisher=[[Business Standard]]|accessdate=April 7, 2021}}</ref>

==History==
In 2000, Hemant Jalan founded Indigo Paints to manufacture cement paint; by 2021 the company scaled up to become the fifth largest player in terms of revenue generation in the decorative paint industry.<ref>{{cite news|last=Srivastava |first=Samar |date=July 23, 2018 | title= Indigo Paints: Adding colours with a new brush | url= https://www.forbesindia.com/article/hidden-gems-2018/indigo-paints-adding-colours-with-a-new-brush/50805/1 |work=[[Forbes]]|accessdate= April 7, 2021}}</ref><ref name="TOI">{{cite news|last=Sarkar |first=John |date=December 8, 2019 | title= We are aiming for Rs 3,000 crore in five years: MD Indigo Paints | url= https://timesofindia.indiatimes.com/business/india-business/we-are-aiming-for-rs-3000-crore-in-five-years-md-indigo-paints/articleshow/ |work=[[The Times Of India]]|accessdate= April 7, 2021}}</ref> In December 2019, Jalan stated that the company had established a distribution network across 27 states and seven union territories.<ref name="HBL" /><ref>{{cite news|last=Matkar |first=Sunil |date=January 20, 2021 | title= Indigo Paints IPO worth Rs 1,170 crore opens today: Should you subscribe? | url= https://www.moneycontrol.com/news/business/ipo/indigo-paints-ipo-worth-rs-1170-crore-opens-today-should-you-subscribe-6366821.html |publisher=[[Moneycontrol.com]]|accessdate= April 7, 2021}}</ref><ref name="BQ">{{cite news|last=D'Souza |first=Sharleen |date=January 19, 2021 | title= Indigo Paints IPO: Here's All You Need To Know | url= https://www.bloombergquint.com/ipos/indigo-paints-ipo-heres-all-you-need-to-know |publisher=Bloomberg|accessdate= April 12, 2021}}</ref> In 2018, [[Mahendra Singh Dhoni]] became the company’s brand ambassador.<ref>{{cite news|last=Laghate |first=Gaurav |date=June 15, 2018 | title= Indigo Paints signs MS Dhoni as brand ambassador; plans Rs 240 crore ad spend over 3 years | url= https://m.economictimes.com/industry/services/advertising/indigo-paints-signs-ms-dhoni-as-brand-ambassador/amp_articleshow/ |publisher=[[The Economic Times]]|accessdate= April 7, 2021}}</ref> In 2014, Sequoia Capital first invested ₹55 crore in the firm and later in 2016, an additional ₹95 crore in 2016.<ref name="HBL" /> In 2021, as a part of its [[initial public offering|IPO]], the firm raised ₹348 crore from 25 anchor investors including the [[Government of Singapore]], [[Fidelity]], [[Goldman Sachs]], [[Nomura Group|Nomura]], [[HSBC]], [[Pacific Horizon Investment Trust]], [[SBI Mutual Fund]], [[ICICI Prudential Mutual Fund]] and [[Axis Mutual Fund]].<ref>{{cite news|date=January 20, 2021 | title=Indigo Paints raises Rs 348 crore from 25 anchor investors ahead of IPO | url= https://www.moneycontrol.com/news/business/ipo/indigo-paints-raises-rs-348-crore-from-25-anchor-investors-ahead-of-ipo-6367871.html |publisher=[[Moneycontrol.com]]|accessdate=April 13, 2021}}</ref>

==Initial public offering==
On January 20, 2021, Indigo Paints launched its initial public offering of about 1170 crores; the price band was fixed at ₹1,488-1,490 apiece.<ref name="BQ" /> The issue was oversubscribed by 117 times.<ref name="BQ" /><ref>{{cite news|date=January 19, 2021 | title= Indigo Paints IPO subscribed over 50 times so far on final day | url= https://www.livemint.com/market/ipo/indigo-paints-ipo-subscription-allotment-listing-gains-and-date-details-11611122719965.html |publisher=[[Mint (newspaper)|Mint]] |accessdate= April 12, 2021}}</ref> On February, 2 2021, Indigo Paints Limited made its debut on the [[National Stock Exchange of India Limited|NSE]] and the [[Bombay Stock Exchange|BSE]] at a price of ₹2,607.5 per share, a 75 percent premium over its issue price of ₹1,490.<ref>{{cite news|last=D'Souza |first=Sharleen |date=February 2, 2021 | title= Indigo Paints Shares Double Over IPO Price On Market Debut | url= https://www.bloombergquint.com/markets/indigo-paints-lists-at-75-premium-on-stock-market-debut |publisher=Bloomberg|accessdate= April 12, 2021}}</ref><ref>{{ cite news| date=February 2, 2021 | title= Indigo Paints shares listing on BSE, NSE today: Grey market premium strong, bumper debut likely | url= https://www.indiatvnews.com/business/markets-indigo-paints-ipo-share-listing-price-news-bse-nse-update-grey-market-premium-682052 |publisher=[[India TV]]|accessdate=April 7, 2021}}</ref><ref name="FE">{{ cite news|last = Bhargava | first = Kshitij | date=February 2, 2021 | title= Indigo Paints shares hit 20% upper circuit after bumper debut; total listing day gains touch 110% | url= https://www.financialexpress.com/market/indigo-paints-ipo-listing-price-shares-debut-on-sensex-nifty/2185536/ |publisher=[[The Financial Express (India)|Financial Express]]|accessdate=April 7, 2021}}</ref> On the listing day, the stock further surged 20% over its listing price to hit the upper circuit at ₹3,129 per share.<ref name="keypeople" />

== References ==

{{reflist|30em}}

==External links==
* {{Official| https://indigopaints.com/}}

[[Category:Companies based in Pune]]
[[Category:Paint companies of India]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Indian brands]]
[[Category:Indian companies established in 2000]]

Indigo Paints - Revision history

>DGG at 22:07, 27 May 2021