Indigo Paints - Be Surprised IPO Details


Indigo Paints is the fastest growing paint company among its top five peers in India. The company manufactures a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints.

Indigo Paints IPO Date & Price Band:

IPO Open20 January 2021
IPO Close22 January 2021
IPO SizeApprox ₹1176 Crore (Approx)
Face Value₹10 Per Equity Share
Price Band₹1488 to ₹1490 Per Share
Listing onBSE & NSE
Retail Portion35%
Equity5,840,000 Shares

The min/max amount required to apply for Retail (Max - 2L) w.r.t lots applied

Min-MaxLots# of SharesAmount (Cut-off @1490 expected)
Min Lots110₹14,900
Max Lots13130₹193,700

Peers are Asian Paints, Berger, Kansai, Akzo Nobel & Shalimar Paints.

Peer Comparison

S.No.NameCMP Rs.EPSGraham's NumberP/EDebt/EqROE %Promoter Hold. %Profit Var 5Yrs %
1Asian Paints2590.923.72247.73106.590.128.252.7914.2
2Berger Paints777.55.3859.78144.90.325.2574.9819.82
3Kansai Nerolac633.957.16106.4790.20.0614.1974.9913.38
4Akzo Nobel2312.7538.88483.4658.310.0520.0174.7610.19
5Shalimar Paints100.4-7.710.51-15.553.1
6Hardcast.& Waud1829.57333.4119.0502.573.47-10.42
7Yug Decor26.31.4121.5118.910.379.5568.1463.26


GMP: 840 - 850.

Indigo Paints Registrar :


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