The initial public offering (IPO) of Indigo Paints, the fifth-largest decorative paints company in India, has been subscribed 24 percent on its first day of the bidding so far, January 20.
As per exchange data, The public issue has received bids for 13.33 lakh equity shares against offer size of 55.18 lakh shares, e/x anchor booking.
The anchor book saw good response from investors, including international investors and Indian asset management companies. The company aims to raise Rs 1,170 crore through its public issue, of which it has already garnered Rs 348 crore from anchor investors.
The retail investors' reserved portion has seen a subscription of 45.81 percent and that of non-institutional investors 6.66 percent, while employee portion received 2.64 percent subscription. The qualified institutional buyers are yet to put in their bids.
The IPO consists a fresh issue of Rs 300 crore and an offer for sale of 58,40,000 equity shares by promoter Hemant Jalan, and investors like Sequoia Capital India Investments IV and SCI Investments V.
IPO of IRFC worth Rs 4600-Cr, subscribed 1.22 times on second day
