Indigo Paints IPO opens for subscription today: Analysts give thumbs up

Indigo Paints is the fastest-growing paints company in India in terms of revenues, in a highly oligopolistic paint market.

The three-day initial public offering (IPO) of Indigo Paints will open for public subscription on Wednesday, January 20, and will close on January 22. The price band has been fixed at Rs 1,488-1,490 per share for the initial share sale. 

At the upper end of the price band, the public issue is expected to fetch Rs 1,170.16 crore, which comprises Rs 300 crore through fresh issuance of shares and Rs 870.16 crore through offer-for-sale. Half of the issue is reserved for qualified institutional buyers, 35 per cent for retail investors, 15 per cent for non-institutional bidders and there is a