Indigo Paints IPO share allotment likely today: How to check

Updated : January 29, 2021 12:47 PM IST

Investors can check their status on the issue's registrar Link Intime as well as BSE.

The status will only appear if the details are entered correctly.

The allotment of shares for the Indigo Paints IPO is likely to be finalised today. Investors can check their status on the issue's registrar Link Intime as well as BSE.

The issue had opened for subscription on January 20 and closed on January 22 with a price band set between Rs 1,480 and Rs 1,500 per share.

It received an overwhelming response from investors and was subscribed 117 times. The retail portion was subscribed 16 times while the portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 189.57 times, and the non-institutional investor category 263.05 times.

Here's how you can check the allotment status:

Through the website of registrar - Linkintime

1) Visit the website: https://www.linkintime.co.in/IPO/public-issues.html

2) Select IPO name from the dropdown

3) Enter Application Number or DP ID/Client ID or PAN

4) In case of application number, select application type (ASBA or NON-ASBA) and 'Enter Application Number'. In the case of DPID/Client ID, select Depository "NSDL or CDSL" and enter "DP ID/Client ID".

5) Enter 'Captcha' and submit

On BSE:

1) Visit the website: https://www.bseindia.com/investors/appli_check.aspx.

2) Select ‘Equity’ and then from the dropdown, select issue name—"Indigo Paints"

3) Enter your Application Number and PAN Card number

4) Click on the "Search" button

The status will only appear if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.

Ahead of the IPO, Indigo Paints had raised Rs 348 crore from anchor investors. The anchor investors included the Government of Singapore Investment Corporation, Fidelity, Goldman Sachs, Nomura and HDFC MF.

The company will use Rs 150 crore from the proceeds of the fresh issue to expand its existing manufacturing facility at Pudukkottai, Tamil Nadu; Rs 50 crore to purchase equipment and Rs 25 crore to repay debt and general corporate purposes.

Most brokerage houses had recommended subscribing to Indigo Paints IPO on the back of its fast growth in the last decade compared to peers. Its expansion program, cost-controlling measures, and lowering of debt have also kept the analysts positive on the IPO.

Anand Rathi believes that due to the lower valuations compared to its peers, Indigo Paints is placed at an attractive valuation. It is also confident that the company will maintain the growth levels, which is mirroring in the pricing of the IPO.

Indigo Paints IPO share allotment likely today: How to check

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