Indigo Paints: Indigo Paints shares listed at Rs 2607.50, up 75% from issue price

The company's IPO opened on January 20 and closed on January 22. Its IPO was subscribed 117 times. The price band of the company's issue was Rs 1488-1490.

Indigo Paint Share Price: Indigo Paints has a great entry in the market. The company’s shares are listed at Rs 2607.50, up 75% from the issue price. The issue price of the company was Rs 1490 per share. At 10.7 in the morning, Indigo Paints shares were trading up 70 percent at Rs 2,533.45 on the BSE. While its shares were trading up 70 percent at 2,532.45 on the NSE.

The company’s IPO opened on January 20 and closed on January 22. Its IPO was subscribed 117 times. The price band of the company’s issue was Rs 1488-1490.

The IPO of the decorative paints company opened last week and was subscribed 117 percent. Despite Grasim Industries, the flagship company of the Aditya Birla Group, announcing its entry into the paints market, company were doing well in the gray market.

Companies IPO opened on January 20 and closed on January 22. The price band for its IPO was Rs 1488-1490. The company’s issue has been subscribed 15.93 times in retail portions. The share of HNI (high net worth investors) was subscribed 263 times and that of qualified institutional buyers was subscribed 189.57 times.

What were the expectations of experts from Indigo Paints

Some brokerage firms were expected to list Indigo Paints at a 30 to 40% premium. YES Securities had said that the listing of the company’s IPO could be around Rs 2050 at a 37% premium to the issue price.

Indigo Paints rate in the gray market is Rs 2290 per share. At the same time, Aastha Jain of Hem Securities had said that the listing of Indigo Paints can be in the range of 2000 to 2100 rupees.