Indigo Paints IPO - Differentiated Product Portfolio, Pan-India Presence And More: ICICI Securities
A sample of paint pours into a bucket from the nozzle of a paint tinting machine in Gwalior. (Photographer: Udit Kulshrestha/Bloomberg)

Indigo Paints IPO - Differentiated Product Portfolio, Pan-India Presence And More: ICICI Securities

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ICICI Securities Report

Indigo Paints Ltd. is the fifth largest decorative paint company in India.

It manufactures decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints.

The company has over the years introduced unique paints products which has helped it to expand its dealers reach into domestic markets which is otherwise dominated by top four players.

The premium product category contributes 28.6% in topline while rest comes from the other paint products categories.

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ICICI Securities Indigo Paints IPO.pdf

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