Indigo Paints IPO GMP Today, Indigo Paints IPO Grey Market Premium Updates | Indigo Paints Ltd IPO Listing Gain, Latest target, Opening gain
Indigo Paints, is expected to launch its initial public offering (IPO) for subscription next week.
Indigo Paints Ltd is the fifth largest company in the Indian decorative paint industry in terms of revenue from operations for Fiscal 2020 and also the fastest growing amongst the top five paint companies in India.
The company filed DRHP in November and got SEBI’s nod for Indigo Paints IPO. Indigo Paints is backed by Sequoia Capital and coming up with ₹1000 crore IPO. The IPO comprises fresh issue of ₹300 crore and offer for sale of upto 58,40,000 shares by Sequoia Capital.
Proceeds from the fresh issuance of shares would be used for expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, purchase of tinting machines and gyro shakers, and repayment/prepayment of borrowings. According to market sources, the initial public offering (IPO) is expected to fetch Rs 1,000 crore.
Kotak Mahindra Capital Company, Edelweiss Financial Services and ICICI Securities are the book running lead managers to the issue. The Pune-based company manufactures a range of decorative paints and has an extensive distribution network across the country.
Indigo Paints IPO Details:
|Issuer||Indigo Paints Ltd|
|Issue Type||Book Built Issue IPO|
|Issue Period||Issue Opens: January 20, 2021|
|Issue Closes: January 22, 2021|
|Price Brand||₹1488 to ₹1490 Per Share|
|Issue Size||₹1176 Crores (Approx.)|
|Face Value||Rs.10 per Equity Share|
|Market Lot||10 Shares|
|Maximum Bid amount for Retail||Rs. 2 Lakhs|
|QIB||50% of the issue size|
|NIB||15% of the issue size|
|Retail Individual Bidders||35% of the issue size|
|Offer for Sale||₹876 Cr|
|Fresh Issue||₹300 Cr|
|Listing at||NSE & BSE|
|Apply With||Upstox Free DEMAT Account|
|Equity||58,40,000 Equity Shares|
|Grey Market Price||Indigo Paints IPO GMP Today|
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Indigo Paints IPO GMP Rates day by day
Indigo Paints Grey market premium as on today
|Date||GMP (in INR)||Kostak (in INR)||Subject to Sauda|
|02 FEB 2021||850||800||8000|
|01 FEB 2021||800||800||8000|
|31 JAN 2021||740||800||8000|
|30 JAN 2021||760||700||7000|
|29 JAN 2021||810||700||7000|
|28 JAN 2021||650||650||6000|
|27 JAN 2021||790||700||7000|
|26 JAN 2021||800||700||7000|
|25 JAN 2021||850||700||7000|
|24 JAN 2021||850||700||7000|
|23 JAN 2021||850||900||8500|
|22 JAN 2021||850||850||8500|
|21 JAN 2021||900||850||8000|
|20 JAN 2021||800||800||8000|
|19 JAN 2021||830||785||7000|
|18 JAN 2021||850||850||7500|
|17 JAN 2021||810||750||7000|
|16 JAN 2021||850||800||7000|
|15 JAN 2021||850||800||7000|
|14 JAN 2021||820||700||6000|
|13 JAN 2021||820||700||6000|
|12 JAN 2021||750||700||6000|
|11 JAN 2021||750||700||6000|
|10 JAN 2021||740||650||6000|
|09 JAN 2021||740||700||5800|
|08 JAN 2021||760||700||5800|
|07 JAN 2021||760||700||5800|
|06 JAN 2021||600||650||₹N/A|
|05 JAN 2021||600||650||₹N/A|
UPCOMING IPO IN FEBRUARY 2021
|UPCOMING IPO||UPCOMING DIVIDEND|
|UPCOMING BUYBACK||UPCOMING NCD 2021|
|Best Stocks to buy||Latest IPO Grey Market Premium|
Indigo Paints IPO Market Lot:
|Lot Size:||Minimum 10 Shares & Maximum 130 Shares|
Indigo Paints IPO Allotment & Listing:
|Basis of Allotment:||January 28, 2021|
|Refunds:||January 29, 2021|
|Credit to Demat Account:||01 February 2021|
|Listing Date:||02 February 2021|
– IPO Grey Market Premium (IPO GMP) mention is valid for the specific date as mentioned in the header.
– We are not buying and selling IPO forms on IPO Grey Market.
– Kostak Rate is the premium one gets by selling his/her IPO application (in an off-market transaction) to someone else even before allotment or listing of the issue.
– Do not subscribe for IPO by just seeing premium Price as it may change anytime before listing. Subscribe only considering Fundamental of the companies
IPO GMP rates are provided as sourced from market intelligence. Please note these IPO GMP rates may be different depending on geographies and markets.
We don’t trade into grey market nor do we facilitate buying or selling of IPO forms.
What is Grey Market?
Grey Market is the term used to describe unregulated over-the-counter market for trading IPO applications and IPO shares before the stock is listed at a stock market. This is a way for dealers to support their customers who may want to exit before listing.
This is also a way to boost the listing price and support the issue before listing happens. There are two kinds of transactions that happen in thee IPO grey market:
- Trade of IPO shares at a grey market premium
- Trade of IPO application at a kostak.
What is Grey Market Premium?
GMP or Grey Market Premium is the premium at which equity shares from the IPO are being traded in the grey market.
This could either be a positive or negative – meaning the trading price in the grey market is either higher or lower than issue price respectively, based on demand and supply for the shares.
Typically, investors who do not want to take the risk of allocation not happening through IPO will buy shares in the gray market and hope to flip the shares on listing to make a good profit.
What is Kostak?
Kostak is the premium at which IPO application is being traded in the grey market. Applications are typically traded after the application window is closed but the allotment has not yet been finished.
It is rare for someone to trade IPO application post-allocation. This is a way for investors to increase their chance of shares being allotted as the allocation process treats each retail application equally. An example (indicative) for kostak is:
– IGL Limited
– Issue Price: Rs 480 Per Equity Share (at upper band)
– Lot Size: 14
– Grey Market Premium: Rs 350 to Rs 360
– Kostak (Rs 100000): Rs 2500 to Rs 2600
As can be seen the Kostak is at a much lower %age than GMP. This indicates that the grey market expects the issue to be oversubscribed and expects on an average only one lot to be allocated per application.
Kostak rate is the amount an investor gets by selling his/her IPO application in grey market. This is the amount an investor stands to gain, irrespective of allotment status.
Subject to Sauda simply reflects the amount which an investor stands to get by selling his/her application for firm allotment. The key operative word here is firm allotment. In case of no allotment to the applicant, the sauda stands cancelled.
In case of ‘Subject to Sauda’ deal, while selling IPO application in the grey market, buyer and seller agree that deal is only valid if the seller will get the allotment. If the seller doesn’t get any shares in IPO process, the deal gets avoid.
Indigo Paints IPO GMP FAQs
The Grey Market Premium of Indigo Paints IPO is approx. Rs.800+ at the moment.
The Subject to Sauda price for Indigo Paints IPO is approx. Rs. 7000/-
Indigo Paints IPO listing gain will be approx. Rs.9000/- (update on a daily basis)
The Kostak price of Indigo Paints IPO is approx. Rs 8000/-.