Indigo Paints IPO - Innovative And Fast-Growing Player In Decorative Business: Geojit
A worker mixes paint to color zipper sliders during production at manufacturing facility. (Photo: Meg Roussos/Bloomberg)

Indigo Paints IPO - Innovative And Fast-Growing Player In Decorative Business: Geojit

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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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Geojit - Indigo Paints IPO.pdf


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