Indigo Paints IPO - Innovative And Fast-Growing Player In Decorative Business: Geojit
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Geojit Research Report
Indigo Paints Ltd. (IPL), incorporated on Mar. 28, 2000 is the fastest growing amongst the top five paint companies in India with a market share of ~2%. IPL is engaged in the business of manufacturing a complete range of decorative paints including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints. IPL introduced differentiated products through their primary consumer brand of “Indigo” and has an extensive distribution network across 27 states and 7 Union Territories with 11,230 active dealers.
The proceeds from the offer for sale will go to the selling shareholders, while the amount received from the sale of fresh issue will be utilized for funding capex for expansion of manufacturing facility at Pudukkottai, purchasing of tinting machine and gyroshakers, repayment of outstanding borrowings and general corporate purposes.
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