Indigo Paints Limited will open the bid/offer period in relation to its initial public offering of equity shares on Wednesday, January 20, 2021. The bid/offer period will close on Friday, January 22, 2021. The price band of the offer has been fixed at Rs. 1,488 - Rs. 1,490 per equity share. The company may, in consultation with the Book Running Lead Managers (BRLMs), consider participation by anchor investors which shall be one working day prior to the bid/offer opening date.

The IPO comprises a fresh issuance of equity shares aggregating to Rs. 3,000 million by the company (Fresh Issue) and an offer for sale of up to 5,840,000 equity shares by Sequoia Capital India Investments IV and SCI Investments V (Investor Selling Shareholders), and the promoter selling shareholder, Hemant Jalan.

Indigo Paints proposes to utilise the net proceeds as follows (i) Rs 1,500 mn towards funding capital expenditure for expansion of its existing manufacturing facility at Pudukkottai, Tamil Nadu by setting-up an additional unit adjacent to the existing facility; (ii) Rs 500 mn towards purchase of tinting machines and gyroshakers; (ii)Rs 250 mn towards repayment/prepayment of all or certain of company's borrowings; and (iv) balance towards general corporate purposes.

The offer includes a reservation of up to 70,000 equity shares for subscription by eligible employees of the company (the Employee Reservation Portion). Indigo Paints and the selling shareholders in consultation with the BRLMs, are offering a discount of Rs. 148 per equity share to the offer price to eligible employees bidding in the employee reservation portion.

Kotak Mahindra Capital Company Limited, Edelweiss Financial Services Limited and ICICI Securities Limited are the BRLMs to the Offer.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus dated January 11, 2021 (RHP).