Indigo Paints makes impressive market debut; shares zoom 75 pc

TIL Desk/Business/New Delhi/ Shares of Indigo Paints on Tuesday made an impressive market debut, listing with a premium of 75 per cent against its issue price of Rs 1,490. The stock got listed at Rs 2,607.50, registering a sharp gain of 75 per cent against its issue price on the BSE. Later, it zoomed 84.98 per cent to Rs 2,756.30.

At the NSE, it listed at Rs 2,607.50, jumping 75 per cent. The company’s market valuation stood at Rs 11,684.85 crore on the BSE. Indigo Paints’ Rs 1,170-crore initial share-sale last month garnered an overwhelming response from investors and was subscribed 117 times.

The price range for the offer was fixed at Rs 1,488-1,490 per share. The Pune-based company manufactures a range of decorative paints and has an extensive distribution network across the country. The offer was open for public subscription during January 20-22.