Indigo Paints raises Rs 348 crore from anchor investors ahead of IPO

Updated : January 19, 2021 09:57 PM IST

The company informed the bourses that it has allocated shares worth Rs 348 crore at Rs 1,490 per share to anchor investors.

Indigo Paints Limited on Tuesday announced that it has raised Rs 348 crore from 25 anchor investors. The Sequoia Capital-backed company informed bourses that it has allocated shares worth Rs 348 crore at Rs 1,490 per share to anchor investors.

Of the total 23,35,020 shares that were allotted by Indigo Paints, Government of Singapore Investment Corporation picked 4.9 percent for Rs 16.99 crore, Fidelity was allotted 4 percent of the shares for Rs. 13.99 crore. Goldman Sachs, Nomura, Government Pension Fund Global, Pacific Horizon Investment Trust, HSBC, Stewart picked up 3.9 percent for Rs 13.50 crore each.

Capital Group was the largest investors among foreign institutions, buying 11.5 percent of the anchor investor portion for Rs 39.92 crore. Other Marquee FIIs include Carmignac, White Oak, Matthews, Theleme, Virtus Kar Emerging Markets Small-Cap and Jupiter.

Among domestic institutions that lined up as anchor investors in the IPO, SBI MF, HDFC MF, ICICI Prudential MF and Nippon MF each picked 4.6 percent of the shares on offer for anchor investors for Rs 16 crore. Axis MF, Birla MF, Kotak MF and Motilal MF each bought 3.7 percent of the shares for Rs 13 crore. Additionally, HDFC Life and ICICI Prudential Life each picked up 2.9 percent for Rs 10 crore.

Indigo Paints' IPO will open for subscription on January 20, click here to know more.

Published : January 19, 2021 09:06 PM IST

Indigo Paints raises Rs 348 crore from anchor investors ahead of IPO

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