The Indigo Paints initial public offer (IPO) of Rs 1,170-crore is likely to finalise the allotment of shares on Thursday, January 28. Attracting a robust response from investors, the issue was subscribed 117 times during the three-day bidding process, making it the most subscribed IPO of the calendar year 2021. The date February 2, 2021 has been decided to list the shares on the BSE Sensex and NSE Nifty. With the price band of Rs 1,488 – 1,490 per share, the offering consisted of a fresh issue of stocks aggregating to Rs 300 crore, along with an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital and Hemant Jalan.
The main motive behind the IPO is to use the net proceeds for the expansion of the existing manufacturing plant in Tamil Nadu. It also includes purchasing tinting machines and gyroshakers, along with repaying or pre-paying borrowings, including general corporate purposes.
Investors who had placed bids for Indigo Paints issue can check the subscription status from Link Intime India, which is the registrar and is also a SEBI-registered entity responsible for the IPO allotment and refund processing. The status can also be checked by visiting the Bombay Stock Exchange (BSE) website.
How to check share allotment status using Link Intime India’s website?
Follow the below-mentioned process to check the allotment status:
Step 1: Go to the official website of Link Intime India and then select the company name as ‘Indigo Paints – IPO’ from the drop-down list
Step 2: Enter either your PAN, Application Number or Depository/Client ID
Step 3: Then, you need to enter the given captcha in the provided space and click the submit button
How to check share allotment status using the BSE website:
Step 1: Visit the BSE website
Step 2: From the drop-down list, select the issue type as ‘equity’ and the issue name as ‘Indigo Paints’
Step 3: Enter the application number and permanent account number (PAN)
Step 4: Finally, click on the search tab to view the status details
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