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<ul><li>Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> listed at ₹2607, which is at a 75% premium to the set price band at ₹1,488-1,490 per share.</li><li>The company’s market value expanded to ₹12,188 crore after the listing.</li><li>The ₹1,000 crore share sale concluded with the subscription of a little over 117 times the offer value on January 22.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>It was a blockbuster debut for the ₹1,000 crore initial public offering (IPO) of Sequoia Capital-backed Indigo Paints on the bourses today. The stock listed at ₹2607, which is at a 75% premium to the set price band at ₹1,488-1,490 per share. Within minutes after listing, the shares of Indigo Paints lost nearly 3% of their value and were trading at ₹2521 apiece at 10:05 am in an otherwise robust market. <div type="image" title="IRFC share (1)" msid="80643718" hostid="261"></div> The company’s market value expanded to ₹12,188 crore after the listing. The bumper listing was already on the cards! The <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword> garnered a super response from investors at the time of subscription. The ₹1,000 crore share sale concluded with the subscription of a little over 117 times the offer value on January 22. And, despite the grey market premium fizzling out a bit, the shares commanded a premium of ₹850-900 today. The grey market premium plunged nearly 10% last week after<a href="https://www.businessinsider.in/business/corporates/news/birla-is-making-asian-paints-and-berger-paints-change-colours-and-its-bad-news-for-those-who-got-shares-in-indigo-ipo-too/articleshow/80451063.cms"> Birla Group-owned Grasim announced its foray</a> into the paint business. The entry of a top billionaire like Birla was not a risk investors had factored in at the time of subscription. <div type="image" title="Paint market share (3)" msid="80643634" hostid="261"></div> The IPO was attractively priced, and nearly all brokerages firms had given it a ‘subscribe’ rating as the Pune-based paint maker emerged as a tight competition to much larger peers like Asian Paints and Berger Paints in recent years. Indigo Paints is a relatively small player with a 2% market share, but its profit has grown significantly, nearly four times in the last three years. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/markets-on-fire-post-union-budget-2021-sensex-zooms-over-22000-points-nifty-reclaims-14000-mark/articleshow/80630163.cms" data-type="tilCustomLink">Markets on fire post Union Budget 2021: Sensex zooms over 2,200 points, Nifty reclaims 14,000 mark</a> <a href="https://www.businessinsider.in/budget/news/india-budget-2021-updates-and-highlights-from-nirmala-sitharaman-speech/articleshow/80624564.cms" data-type="tilCustomLink">Union Budget 2021 highlights: Pensioners over 75 years need not file IT returns, says FM</a>

India’s fifth-largest paint maker Indigo Paints IPO lists at 75% premium over the issue price

<ul><li>The basis of allotment for ₹1,000 crore initial public offering (IPO) of Sequoia Capital-backed Indigo Paints’ will be announced on January 28.</li><li>The IPO of India’s fifth-largest paint maker was subscribed 117 times the offer value on the last day of subscription.</li><li>Here’s <keyword id="10659155" type="UNKNOWN" weightage="20" keywordseo="how-to-check-indigo-paints-ipo">how to check Indigo Paints IPO</keyword> allotment status on registrar website and stock-exchanges. </li></ul>The basis of allotment for ₹1,000 crore initial public offering (IPO) of Sequoia Capital-backed Indigo Paints’ will be announced on January 28. The IPO of India’s fifth-largest paint maker clocked in a massive response from investors on the last day of subscription — the issue was subscribed 117 times the offer value. This was the second initial public offer this year. According to data from the stock-exchanges, the issue received bids for 64 crore equity shares against the offered size of 55 lakh equity shares. <table style="border-width: initial; border-style: none;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">189.57x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">263.05x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15.93x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.50x </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">117.02x </td></tr></tbody></table> The listing is scheduled for February 2, and equity shares will be listed on both the exchanges — BSE and NSE. The grey market premium of Indigo Paints plunged nearly 10% after<a href="https://www.businessinsider.in/business/corporates/news/birla-is-making-asian-paints-and-berger-paints-change-colours-and-its-bad-news-for-those-who-got-shares-in-indigo-ipo-too/articleshow/80451063.cms"> Birla Group-owned Grasim announced its foray</a> into the paint business. The entry of a top billionaire like Birla was not a risk investors had factored in at the time of subscription. Here’s how to check <keyword id="10659154" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo-allotment-status">Indigo Paints IPO allotment status</keyword>: If you have bid for the <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword>, you can check your allotment status by following these simple steps: To check on the stock-exchange website: <ul><li>To check the Indigo Paints IPO allotment status, go to the<a href="https://www.bseindia.com/investors/appli_check.aspx"> BSE website</a> or <a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp">NSE website</a>.</li><li>On BSE, Select ‘Equity’ and then from the dropdown, select ‘Indigo Paints.’ </li><li>Now, enter your application number and PAN.</li><li>Hit ‘Search’.</li></ul>Please note the details will only be available once the shares are allotted. You can also visit the Registrar website (<a href="https://linkintime.co.in/MIPO/Ipoallotment.html">Link Intime India Private Ltd</a>) to check your application status. <ul><li>Since Link Intime India is the registrar for Indigo Paints IPO, you can visit their website <a href="https://kosmic.kfintech.com/ipostatus/">here</a>.</li><li>Click on ‘Company selection’ and click on ‘Indigo Paints IPO.’ It will only appear post allotment on October 27.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or client ID.</li><li>Enter the captcha and click ‘submit.’ </li></ul>Your application status will appear on the screen once you click ‘submit.’ Please make sure the details you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/gamestop-short-sellers-have-lost-5-billion-this-year-as-reddits-day-trader-army-squeezed-their-bearish-bets/articleshow/80471605.cms" data-type="tilCustomLink">GameStop short-sellers have lost $5 billion this year as Reddit's day-trader army squeezed their bearish bets</a> <a href="https://www.businessinsider.in/policy/economy/news/imf-projects-11-5-growth-rate-for-india-in-2021-only-major-economy-to-record-double-digit-growth/articleshow/80468095.cms" data-type="tilCustomLink">IMF projects 11.5% growth rate for India in 2021, only major economy to record double digit growth</a>

Indigo Paints’ IPO allotment: Here’s how to check share allotment status

<ul><li>Indigo Paints shares are down nearly 17% in just 3 days despite the ecstatic mood in the market where Sensex broke new records.</li><li>The excitement around Indigo Paints also fizzled soon after the listing, just like in the case of Mrs’ Bector’s Food and Burger King.</li><li>Analysts say it is better to sell half the <keyword id="10589233" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-stocks">Indigo Paints stocks</keyword> for profit booking, and hold the rest hoping for a surprise.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The Indian stock market has been enjoying the dream run — Sensex topped 51,000-mark this morning, and Nifty inched closer to 15,000. But the Indigo Paints investors who didn’t sell their stock on listing day, or ones who bought it on that day, have seen their investment fall nearly 17% in just 3 days. The excitement around Indigo Paints also fizzled soon after the listing, just like in the case of Mrs’ Bector’s Food and Burger King. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post listing peak </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current price </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fall from peak </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3232 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2693 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mrs Bectors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹624 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹415 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Burger King India </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹194 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹147 </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr></tbody></table>* NSE data- as of February 5 Samir Arora, the founder and fund manager at Helios Capital, in <a href="https://www.businessinsider.in/stock-market/news/interview-a-hedge-fund-manager-explains-where-to-invest-when-nothing-is-cheap-in-india/articleshow/80682629.cms">an exclusive chat with Business Insider</a>, said that all three stocks are “still overvalued”, and by a lot, compared to their listed peers like Asian Paints, Britannia and Jubilant Foodworks respectively. Business Insider reached out to a few more analysts and the verdict is similar. Keshav Lahoti, Equity Analyst, Angel Broking, said it is better to sell half the Indigo Paints stocks for profit booking, and hold back on the rest for any surprise movement. IPO: Initial Public Offering or Instant Profit Opportunity? Just like Burger King and Mrs Bector's Food, the <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword> was a hit. The IPO of India's fifth-largest paint maker clocked in a massive response from investors on the last day of subscription — the issue was subscribed 117 times the offer value. Indigo Paints is also the most subscribed IPO of 2021 followed by Home First Finance which was subscribed only 27 times. “See what happens is that when an IPO happens there are hundreds listed companies in the market, but the full attention of the retail, public and even institutional public goes towards the IPO. In fact, that's why in the US people take those companies private. That way every year they take 10 companies private and eight of them come back after not five years even in one or two years. It is because there is this concept that an IPO is a good way,” said Arora If you want to profit from Indigo, wait! Kranthi Bathini, equity strategist at Mumbai-based WealthMills Securities, expects “some more profit booking in the next few days." According to Lahoti, the company has a strong business model, experienced management and has done a great job gaining the market share in the industry from the last few years. "But currently the stock is a bit over valued," he told Business Insider. According to both the analysts, it is not the "right time" to enter into the stocks at these valuations. It is better to wait for a correction if someone wants to take a position. "I can say if the stock corrects 20-30% more from here, then investors can start buying it. If you have it in your portfolio you book profit in half of the stock and half they should wait," Lahoti said. Angel Broking says Mrs Bector's stock is ‘reasonably’ valued now Mrs Bector's shares opened in the green today but investors' anxiety over the upcoming earnings pushed the stock back into the red soon after. According to Lahoti, the stock has corrected nearly 30% and is now available at a reasonable valuation. "Mrs. Bector Food Specialities are one of the leading companies in the premium and mid-premium biscuits segment and the premium bakery segment in North India. We think the company should be able to grow in line with the industry managed by the promoters having more than 25 years of sector knowledge. We advise investors to buy Mrs Bectors," he said. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-governor-shaktikanta-das-says-inflation-will-be-maximum-6-percent/slidelist/80700549.cms">Reserve Bank of India says inflation will remain under 5.2 percent until March</a> <a href="https://www.businessinsider.in/tech/news/paypal-to-focus-on-indian-businesses-wanting-to[%E2%80%A6]nds-down-operations-from-april-1/articleshow/80699809.cms">PayPal to focus on Indian businesses wanting to go global as it winds down operations from April 1</a>

Indigo Paints joins the league of Burger King and Bector's — frenzied IPOs that fizzled out

<ul><li>India’s <keyword id="10622896" type="UNKNOWN" weightage="20" keywordseo="fifth-largest-paint-maker">fifth largest paint maker</keyword>, backed by US-based venture capital firm Sequoia, will start its initial public offering (IPO) today, January 20.</li><li>The price band for the IPO has been set at ₹1480-1490 per share.</li><li>The bids can be made for a minimum of 10 equity shares, and in multiples of 10 thereafter. </li><li>The shares commanded a premium of ₹800-810 in the grey market, over above the set IPO price band. </li></ul>The ₹1,000 crore IPO of Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> will be open for public subscription from today (January 20). The issue from India’s fifth largest paint maker has garnered a strong response in the grey market ahead of its IPO — the shares were commanding a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. However, the grey market is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. Analysts reports that have given a ‘subscribe’ rating for the IPO indicate that the demand, so far, is well justified because the Pune-based paint maker has given tight competition to much larger peers like Asian Paints and Berger Paints in recent years. Indigo Paints is a relatively small player with a 2% market share but its profit has grown significantly, nearly four times in the last three years. Streets View: <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Elara Capital </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Anand Rathi </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hem Securities </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr></tbody></table> All you need to know about Indigo Paints IPO: <ul><li>The issue will remain open for subscription until January 22, making it the second IPO of 2021, after <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC</a>. </li><li>The price band for the IPO has been set at ₹1480-1490 per share.</li><li>The bids can be made for a minimum of 10 equity shares and in multiples of 10, thereafter. </li><li>The proceeds of the issue will be used for expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. </li></ul>Attractive valuation, healthy financials, robust growth and much more — here’s what analysts have to say about the IPO Discounted valuation Analysts believe that the IPO is attractively priced and can offer a good investment opportunity for the investors. The team at the brokerage firm, Anand Rathi, has highlighted that the company is reasonably valued at current valuation compared to the larger peers. At the upper end of the IPO price band, Indigo Paints is offered at 98.5 times its earnings, as compared to its other listed peers like Asian Paints, Berger Paints and Kansai Nerolac. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">P/E ratio </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">113.78x </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">128.23x </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kansai Nerolac </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">84.09x </td></tr></tbody></table>*Source: Anand Rathi report The price to earnings ratio is the financial ratio that helps determine a stock's market value compared to the company’s earnings. The P/E ratio shows what the market is willing to pay for a stock based on its earnings. “We believe that due to the lower valuations as compared to its peers, Indigo Paints is placed at an attractive valuation. Further with the planned expansion, lowering debt and other cost control measures, we are also confident that the company will maintain the growth levels which is mirroring the pricing of the IPO,” said the report. Healthy financial position Indigo Paints’ revenue and profitability have consistently improved over the last few years. HDFC Securities, in its IPO report, noted that the company has ‘smartly executed its revenue ramp-up’ and that reflects in the company’s improving fundamentals. <div type="image" title="Indigo Paints (1)" msid="80358585" hostid="261"></div> The company’s revenue from operations has grown at a compound annual growth rate (CAGR) of 41.9% between financial years 2010 and 2019, compared to the range of 12.1% to 13.1% recorded by the top four paint companies in India. The sector is poised to grow, and its listed peers are proof of that Indigo Paints is from the sector that is poised to grow over the coming years, despite all the challenges that may take over the world. According to the ICICI Securities report, the Indian paint industry is valued at ₹54500 crore, and it is expected to grow at 12% CAGR in the next five years. <div type="image" title="Paint market share (1)" msid="80358597" hostid="261"></div> The decorative paint segment, which constitutes 74% of total paint sales, is likely to grow at CAGR 13% backed by shortening repainting cycle, rising urbanisation and aspiration level of middle-class households in India. The report highlighted that government schemes like Pradhan Mantri Awas Yojana, smart city development, Real Estate development and others might play out in its growth in the near future. The gains in other listed Indian paint stocks are proof of safety that investors have found in the sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change since March 31, 2020 </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Berger Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">59% </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Akzo Nobel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr></tbody></table> Here are some of the risk factors you may want to consider before investing in Indigo paints. <ul><li>Although the paint industry is deemed to grow, what remains challenging is the cut-throat competition in the industry. </li><li>Paint companies have been one of the biggest beneficiaries of benign raw material prices resulting in significant gross margin expansion. According to ICICI Direct report, any significant upward movement in crude prices from the current level possesses a substantial risk at gross margin.</li><li>A significant portion of sales for the company are derived from Kerala, and any adverse developments in this market could adversely affect the business.</li><li>According to HDFC Securities, the company does not have long-term agreements with its suppliers for raw materials, and an inability to procure the desired quality, quantity of its raw materials in a timely manner and at reasonable costs may have a material adverse effect on its business. </li></ul>SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-20-indian-americans-nominated-in-biden-harris-cabinet/slidelist/80348318.cms" data-type="tilCustomLink">Meet the 20 Indian-Americans nominated in Biden-Harris cabinet</a><a href="https://www.businessinsider.in/thelife/personalities/news/meet-the-20-indian-americans-nominated-in-biden-harris-cabinet/slidelist/80348318.cms" data-type="tilCustomLink"></a> <a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink">One of India's biggest money managers explained ‘the mother of all bull runs’ using Amitabh Bachchan-starrer Amar, Akbar, Anthony</a><a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink"></a><a href="https://www.businessinsider.in/stock-market/news/exclusive-nilesh-shah-of-kotak-mahindra-amc-says-foreign-inflows-profit-growth-are-helping-sensex/articleshow/80339362.cms" data-type="tilCustomLink"></a>

Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why

<ul><li>Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> ₹1,000 crore IPO will open on January 20 and remain open for subscription until January 22. </li><li>The price band for the IPO has been set at ₹1488-1490 per share.</li><li>The Pune-based company is the fifth-largest company in the decorative paints segment in terms of revenue for fiscal year 2020. It has an extensive distribution network across the country. </li><li>Keshav Lahoti, Associate Equity Analyst at Angel Broking, said, “If the issue is priced reasonably, we expect a good response for this IPO.”</li></ul>Sequoia Capital-backed Indigo Paints is set to launch its ₹1,000 crore IPO next week. The issue will open on January 20 and remain open for subscription until January 22. The price band has been set at ₹1488 - ₹1490 per share. The bids can be made for a minimum of 10 equity shares and in multiples of 10, thereafter. The company received capital markets regulator Sebi’s approval for an initial public offering last week. This will make it the second offering to hit the public market in 2021, after <a href="https://www.businessinsider.in/stock-market/news/indian-railway-finance-corporation-irfc-ipo-will-open-on-january-18-and-remain-open-till-january-20/articleshow/80247173.cms">IRFC</a>. The public issue consists of fresh issue of equity shares as well as an offer for sale, through which the existing shareholders will be selling part of their stake. <keyword id="10263001" type="UNKNOWN" weightage="20" keywordseo="indigo-paints-ipo">Indigo Paints IPO</keyword>: Offer Size <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fresh issue of shares </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">upto ₹3,000 million </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sequoia Capital India IV </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 million shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SCI Investments </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.1 million shares </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hemant Jalan </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.67 million shares </td></tr></tbody></table>Source:<a href="https://www.sebi.gov.in/filings/public-issues/jan-2021/indigo-paints-limited_48724.html"> Red herring prospectus (RHP)</a> The company has appointed Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities as the book running lead managers to the issue. The proceeds of the issue will be used for expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. The Pune-based firm is the fifth-largest company in the Indian decorative paints segment in terms of revenue for fiscal year 2020. It has three manufacturing facilities located in Rajasthan, Kerala and Tamil Nadu. HDFC Securities in an earlier IPO note said that making inroads into the paints industry with a small number of firms remains a herculean task, given strong distribution moats of the top few. “Against this backdrop, Indigo Paints (founded in 2000) has been consistently chipping away market share within the ecosystem.” Indigo Paints’ revenue and profitability has consistently improved over the last few years. HDFC Securities also noted that the company has ‘smartly executed its revenue ramp-up’ and that reflects in the company’s improving fundamentals. <div type="image" title="Indigo Paints" msid="80248734" hostid="261"></div> Keshav Lahoti, Associate Equity Analyst at Angel Broking in a written statement to Business Insider also said that “If the issue is priced reasonably, we expect a good response for this IPO.” Even the shares are piping hot in the grey market ahead of the price band announcement. The shares were trading at a premium of <a href="https://www.ipowatch.in/2021/01/indigo-paints-ipo-gmp-ipo-grey-market.html">₹800-820</a> in the grey market. The grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares. However, it is not an official measure of the market premium. But it is a fair indicator of demand for the shares in the market. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/budget-2021-may-be-an-opportunity-to-help-indian-electric-vehicles-to-compete-with-elon-musks-tesla/articleshow/80243751.cms" data-type="tilCustomLink"> India needs Elon Musk’s Tesla as well as local electric cars to compete⁠ — here’s what Finance Minister’s Budget 2021 may do</a> <a href="https://www.businessinsider.in/business/startups/news/amid-all-the-bitcoin-hype-another-indian-cryptocurrency-startup-coinswitch-kuber-gets-15-million-in-funding/articleshow/80245564.cms" data-type="tilCustomLink">Amid all the Bitcoin hype, another Indian cryptocurrency startup CoinSwitch Kuber gets $15 million in funding</a>

Indigo Paints ₹1,000 crore IPO opens on January 20 — price band set at ₹1488-1490 per share

Sequoia Capital-backed <keyword id="3903861" type="PERSON" weightage="20" keywordseo="Indigo-Paints">Indigo Paints</keyword> has received capital markets regulator Sebi's approval to raise about Rs 1,000 crore through an initial public offering. The IPO comprises fresh issuance of shares aggregating to Rs 300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm <keyword id="122716" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital">Sequoia Capital</keyword>, through its two funds SCI Investments IV and SCI Investments V, and promoter Hemant Jalan, according to the draft red herring prospectus (DRHP). Indigo Paints, which filed its preliminary IPO papers with Sebi in November, obtained its observation on December 31, an update with the capital markets watchdog showed on Monday. Sebi's observation is very necessary for any company to launch public issues, including initial share-sale, follow-on public offer and rights issue. Proceeds from the fresh issuance of shares would be used for expansion of the existing manufacturing facility at Pudukkottai in <keyword id="20154" type="PERSON" weightage="20" keywordseo="tamil-nadu">Tamil Nadu</keyword>, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. According to market sources, the initial public offering (IPO) is expected to fetch Rs 1,000 crore. <keyword id="106209" type="COMPANY" weightage="20" keywordseo="Kotak-Mahindra-Capital-Company">Kotak Mahindra Capital Company</keyword>, <keyword id="6364901" type="DOMAIN" weightage="20" keywordseo="Edelweiss-Financial-Services">Edelweiss Financial Services</keyword> and ICICI Securities are the book running lead managers to the issue. The Pune-based company manufactures a range of decorative paints and has an extensive distribution network across the country. As of September 30, 2020, the company has three manufacturing facilities located in Rajasthan, Kerala and Tamil Nadu. SEE ALSO: <a href="https://www.businessinsider.in/india/news/tatas-got-airasia-stake-at-a-20-discount-while-indigo-and-spicejets-value-has-doubled-since-pandemic-broke-out/articleshow/80101467.cms" data-type="tilCustomLink">Tatas got AirAsia stake at a 20% discount while IndiGo and SpiceJet’s value has doubled since pandemic broke out</a> <a href="https://www.businessinsider.in/business/news/kishore-biyani-lashes-out-at-amazon-says-future-group-was-disillusioned-and-fed-up-with-the-companys-lackadaisical-attitude/articleshow/80107540.cms" data-type="tilCustomLink">Kishore Biyani lashes out at Amazon, says Future Group was disillusioned and fed up with the company's lackadaisical attitude</a>

Sequoia Capital-backed Indigo Paints gets green light from SEBI for ₹1,000 crore IPO

<ul class="summary-list"><li>Shares of a Francis Bacon painting are set to become publicly traded, The Wall Street Journal reported.</li><li>It will allow retail investors to join the high-value art market, purchasing fractional ownership.</li></ul>An upcoming initial public offering will give retail investors the opportunity to put their money into something other than a new corporation. According to <a href="https://www.wsj.com/articles/ipo-francis-bacon-portrait-george-dyer-art-market-4a66000a?mod=markets_lead_pos1" target="_blank" rel="noopener">The Wall Street Journal</a>, shares of a portrait series by famed painter Francis Bacon are set to be publicly listed, following a $55 million IPO that will allow trading to start in July.The artwork, known as "Three Studies for a Portrait of George Dyer," is a 1963 piece showcasing the painter's lover. Shares will be valued at around $100 each and will trade on a newly formed art stock exchange in Liechtenstein.It will mark the first time regular investors will be able to buy and sell shares in a famous artwork on a stock exchange, the Journal said.A firm named Artex is responsible for the IPO. Per the Journal, it's part of an effort to democratize access to high-value art, often limited to wealthier collectors. By splitting a work's cost into more-affordable shares, retail investors can join the market without having to pay millions of dollars.While other companies have offered fractionalized ownership for artwork before, Artex is the first to take a piece public, allowing shares to be traded more easily. To ensure liquidity, Artex aims to subsidize 3% the daily market value.A number of benefits surface from investing in high-end art, according to the Journal. For instance, these assets tend to be a reliable hedge against inflation, similar to gold.And by buying a share in the painting, investors can also look forward to takeover bids, whether by a collector or museum. Per Artex's rules, anyone hoping to buy the full portrait series would have to offer a 20% premium on the shares' average closing price.However, WSJ notes that the IPO is coming at a time when art prices may have already reached their peak, potentially limiting shareholder gains. This follows as central banks have turned hawkish on monetary policy, ending an art boom that benefited from the ultra-low interest rate era. Still, Artex has plans to follow up on the upcoming IPO and will offer investors $1 billion worth of other artwork in the next couple months.

Shares of famous artwork are going public for the first time with a top painting's IPO expected to draw $55 million

<ul><li>IPOs like Indigo Paints, Mrs Bectors Food, Chemcon Speciality Chemicals which got huge institutional demand during IPOs are down 14%-27% since listing.</li><li>Some of the IPOs where institutional players subscribed for more than 100 times the shares on offer, are in deep red right now.</li><li>Ujjivan Small Finance is one among such stocks, which is down 44% after more than a year of going public.</li></ul>Initial public offerings (IPOs) that get huge demand from institutional players are believed to be more valuable as investors trust their stock picking skills. However, this does not stand true in some cases. The Zomato IPO, for instance, saw institutional investors oversubscribing the issue by over 52 times. The shares of Zomato have gained over 6% since the listing. While one has to wait and watch if the stock lives up to the expectations, there are many other examples that show that the excitement of institutional investors does not assure good returns for retail investors who buy and hold shares. Some of the recent superhit IPOs like Indigo Paints, Mrs Bectors Food, Chemcon Speciality Chemicals, Ujjivan Small Finance Bank received more than 110 times subscription from qualified institutional buyers (QIBs). Commercial banks, public financial institutions, mutual fund houses and foreign portfolio investors registered with India’s market regulator Securities and Exchange Board of India (SEBI) fall under this category. These stocks ⁠— where institutional players subscribed for more than 100 times the shares offered to them during the IPO, are in deep red right now ⁠— did see a bumper listing. However, not all of them have gone on to create wealth over a longer period of time. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Oversubscription by institutional investors </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Change since listing </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">No of months since listing </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tatva Chintan Pharma Chem </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">185.23x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Two days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Clean Science &amp; Technology </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">156.37x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6.4% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">11 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">G R Infraprojects </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">168.58x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-0.6% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">11 days </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shyam Metalics </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">155.71x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">15.23% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">1 month </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Nazara Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">103.77x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.85% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Laxmi Organic Industries </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">175.43x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">59% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">MTAR Technologies </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">164.99x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">33.86% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.5 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Indigo Paints </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">189.57x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-16.59% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mrs Bectors Food </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">176.85x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-27.89% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Chemcon Speciality Chemicals </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">113.54x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-14.37% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10 months </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Ujjivan Small Finance Bank </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">110.72x </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">-44.42% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19 months </td></tr></tbody><tbody></tbody></table>Note: ‘x’ denotes the number of shares subscribed for, over and above the total offered Among others, Indigo Paints’ IPO also made a strong listing on exchanges as the prospects of the paints industry looked good. And it is good for players like Asian Paints, whose stock has surged 71% in the last one year. <div type="image" title="asian paint and indigo paint chart" height="900" width="1200" msid="84964395" hostid="261"></div> However, for Indigo paints the bummer came from the over $50 billion <a href="https://www.businessinsider.in/business/corporates/news/birla-is-making-asian-paints-and-berger-paints-change-colours-and-its-bad-news-for-those-who-got-shares-in-indigo-ipo-too/articleshow/80451063.cms">Aditya Birla Group</a>, which announced its intent to enter the paint business soon after the IPO. Aditya Birla group’s flagship company Grasim has announced to foray into the paint business with capital infusion of ₹5,000 crore over three years. <div type="image" title="grasim indus chart" height="900" width="1200" msid="84964418" hostid="261"></div> It was the second wave of COVID-19 pandemic that dented the stock of Ujjivan Small Finance Bank, which listed at over 50% premium to the issue price. The shares of the company have slipped 44% since listing as investors feared that many of its borrowers may not be able to repay their loans. A similar pain is visible in the bottomline of <a href="https://www.businessinsider.in/stock-market/news/britannia-tata-motors-maruti-suzuki-and[%E2%80%A6]tocks-to-watch-out-for-on-august-2/slidelist/84962973.cms">Bandhan Bank</a> ⁠— which leads in lending to the microfinance segment ⁠— which shrank nearly a third in the April-June 2021 quarter. The <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">$73 million IPO</a> of the biscuit and bakery products maker Mrs Bectors Food was a hit⁠ — subscribed over <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">198 times</a>. It was the top IPO by subscription in 2020. After its listing on December 24, the stock had started declining. <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-shares-are-down-32-from-the-peak-post-listing-analysts-say-it-is-still-overpriced/articleshow/80430865.cms">Analysts </a>had said the stock was overpriced and even expected correction. <div type="image" title="bector foods" height="900" width="1200" msid="84964433" hostid="261"></div> According to an Axis Securities’ IPO note released in December, the company holds mere 1% of the market share in the branded biscuit segment, whereas its other listed peer Britannia has about 28% share of the pie. And as feared, the April-June quarter was bad even for Britannia, which saw its profit shrink by nearly 29% despite measures to curb costs. Meanwhile, Laxmi Organics has gained 59% since its listing on March 25, 2021. The company is the largest manufacturer of ethyl acetate ⁠— used as a solvent in paints and perfumes, for instance ⁠— with over 30% market share in product category. <div type="image" title="Laxmi organic" height="900" width="1200" msid="84964453" hostid="261"></div> In July, Tatva Chintan Pharma Chem, G R Infraprojects and Clean Science and Technology made a strong listing with over 100% premium. Let us see how these stocks turn out to be in the coming months. SEE ALSO: <a href="https://www.businessinsider.in/business/news/oyo-founder-ritesh-agarwal-and-zomato-founder-deepinder-goyal-invest-in-unacademy-valuation-crosses-3-billion/articleshow/84963709.cms">The founders of OYO and Zomato pump in money to make edtech startup Unacademy worth $3.4 billion ⁠— a ten fold jump in 18 months </a> <a href="https://www.businessinsider.in/business/news/exclusive-indias-largest-zinc-miner-is-eyeing-a-share-of-the-bangladesh-economic-boom/articleshow/84963388.cms">EXCLUSIVE: India's largest zinc miner Hindustan Zinc is eyeing a share of the Bangladesh economic boom </a>

Don’t subscribe to an IPO just because it saw great interest from institutional investors ⁠— Indigo Paints, Mrs Bectors Food, and Ujjivan are examples to look at

Upcoming IPOs next week: IRFC and Indigo Paints

<ul><li>The portion reserved for retail investors in the <keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword> has been subscribed 9 times.</li><li>Clean Science and Technology was looking to raise ₹1,546 crore with a price band of ₹880-900 per share.</li><li>Most analysts had recommended subscribing to the speciality chemical manufacturer’s IPO on strong industry outlook and financials of the company.</li></ul>The <keyword id="47458" type="ORGANIZATION" weightage="20" keywordseo="public-issue">public issue</keyword> of Pune-based speciality chemical manufacturer Clean Science and Technology saw a blockbuster response from investors, especially from qualified institutional buyers and non-institutional investors. The issue size was subscribed 95.54 times on the third and final day of the issue on July 9 on strong interest by investors. The initial public offering (IPO) has received bids for 114.92 crore equity shares against the IPO size of 1.23 crore equity shares. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Subscription Status </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">159.93 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">211.12 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Retail individual </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.2 times </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">95.54 times </td></tr></tbody></table> Over 26.9 lakh applicants have subscribed to the IPO. Highest in recent times -- <keyword id="6354706" type="DEFINITION" weightage="20" keywordseo="IndiGo">Indigo</keyword> Paints had 25.96 lakh applicants and <keyword id="10466993" type="UNKNOWN" weightage="20" keywordseo="MTAR">MTAR</keyword> Technologies had 25.95 lakh applicants. The company’s ₹1,546 crore IPO was open for <keyword id="72984" type="PERSON" weightage="20" keywordseo="subscription">subscription</keyword> from July 7 to July 9. The entire ₹1,546 crore <keyword id="48705" type="PERSON" weightage="20" keywordseo="share-sale">share sale</keyword> ⁠— priced at ₹880-900 apiece⁠ was from existing investors Ashok Ramnarayan Boob (₹244 crore), Krishnakumar Ramnarayan Boob (₹193 crore), Siddhartha Ashok Sikchi (₹40 crore) and Parth Ashok Maheshwari (₹75 crore). Strong bidding for the IPO was also because many analysts had highly recommended investing in the IPO. The pandemic has been a blessing in disguise for the speciality chemicals sector. The stalling of imports from China in the last year translated to more buyers in India, who were otherwise buying from China, leading to a 20% revenue growth for the company in the year ending March 2021. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ola-app-raises-500-million-from-temasek-and-warburg-ahead-of-ipo/articleshow/84261607.cms">Ola app raises $500 million from Temasek and Warburg, ahead of IPO (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-to-open-on-july-14-with-shares-priced-at-72-76-apiece/articleshow/84226269.cms">Zomato IPO to open on July 14 ⁠with shares priced at ₹72-76 apiece | Business Insider India</a>

Clean Science and Technology IPO subscribed over 95 times on final day of bidding

Continuing healthy demand from construction, real estate and automobile sectors will help the paint sector register a 10-12 per cent <keyword id="45663" type="General" weightage="20" keywordseo="revenue" source="Orion">revenue</keyword> growth this fiscal against an 18 per cent estimated rise in the just-concluded fiscal, according to a report. Volume expansion and the resultant cash generation will help <keyword id="583484" type="General" weightage="20" keywordseo="Paint-companies" source="Orion">paint companies</keyword> maintain healthy balance sheets, which will also buffer credit profiles despite the rising capex, <keyword id="6359483" type="General" weightage="100" keywordseo="crisil" source="Orion">Crisil</keyword> said in a report on Wednesday. The top five companies have announced Rs 12,000 crore capex in fiscal 2023 and 2024 on the back of Rs 7,000 crore they incurred in the previous four fiscals. New players are expected to add nearly one-third of the total existing capacity of 4.2 billion litres by fiscal 2025-end, the report added. Paint companies are likely to close <keyword id="4131553" type="General" weightage="20" keywordseo="FY23" source="Orion">FY23</keyword> with a robust 18 per cent revenue growth, primarily led by higher realisations on the back of a 6 per cent price hike during the year, along with the full impact of a 20 per cent price hike effected in the third quarter of FY22. Along with healthy volume growth, moderating crude-linked input prices will ensure operating margins to remain stable at 15-16 per cent in fiscal 2024, almost similar to the last fiscal, the agency said in the report based on the five top companies that account for 90 per cent of the Rs 65,000-crore industry or 4.2 billion litres annual capacity now. The report also said their near debt-free balance sheets will support credit risk profiles despite all major paint companies being on an aggressive capex spree. The domestic paints sector also comprises the decorative segment, which commands 80 per cent of the market. According to Anuj Sethi, a senior director at the agency, paints demand normally grows at 1.6x-2x of GDP. Decorative paints are likely to see a revenue increase of 11-12 per cent this fiscal, driven by increasing renovation/construction activity and a greater preference for branded products. On the other hand, industrial paints will see 8-9 per cent revenue growth on the back of higher government spending on infrastructure and steady demand from the automotive segment, Sethi added. Since the key raw materials are crude-linked derivatives, the 30 per cent fall in <keyword id="45185" type="General" weightage="20" keywordseo="crude-oil" source="Orion">crude oil</keyword> prices from a high of USD 115 per barrel in June-July 2022 to USD 85 per barrel now will help boost the operating margins. But this will be largely offset by higher selling expenses due to aggressive sales push and increase in ad spend by industry leaders to counter competition from new entrants. Another margin risk is the falling rupee, which the agency sees trending at 82-83 a dollar, up from 80.2 in FY2023, impacting the cost of imported materials, which account for a third of overall their raw material requirements. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/google-chrome-alternatives-for-privacy-conscious-ios-and-android-users/articleshow/99614789.cms">These web browsers are the best alternatives to Google Chrome for privacy-conscious iOS and Android users</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharmas-4326-crore-ipo-to-open-next-week-on-april-25/articleshow/99614288.cms">Condom maker Mankind Pharma’s ₹4,326 crore IPO to open next week on April 25</a>

You Searched For "indigo paints new ipo" and got 11 results

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Clean Science and Technology IPO subscribed over 95 times on final day of bidding

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Paint companies to log 10-12% growth in revenue this fiscal: Crisil

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