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Indigo Paints IPO to open on Jan 20; price band fixed at Rs 1,488-1,490

The IPO comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares

Overall, while the initial signs are positive, FY21 is unlikely to see higher revenues and profits as compared to the last year

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The Pune-based company manufactures a range of decorative paints and has an extensive distribution network across the country

Press Trust of India New Delhi

2 min read Last Updated : Jan 14 2021 | 1:03 PM IST

Sequoia Capital-backed Indigo Paints, on Thursday, said it has fixed a price band of Rs 1,488-1,490 a share for its initial share-sale, which will open for public subscription on January 20.

The IPO comprises fresh issuance of stocks aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital, through its two funds -- SCI Investments IV and SCI Investments V -- and promoter Hemant Jalan.

The three-day initial public offering (IPO) will conclude on January 22. The anchor investors' portion will be open for subscription on January 19, Indigo Paints

Topics : IPO Markets Paint companies