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Indigo Paints IPO β Schedule *(Pg #333 of RHP)*
15th Jan β Announcement of Price Band
19th Jan β Anchor Investors Allotment
20th Jan β Offer Opens
22nd Jan β Offer Closes
28th Jan β Finalisation of Basis of Allotment
29th Jan β Unblocking of ASBA Accounts
01st Feb β Credit of Equity Shares to Depository Accounts
02nd Feb β Commencement of Trading
Indigo Paints IPO β Issue Information *(Tentative)*
Issue Opens on: 20 January 2021
Issue Closes on: 22 January 2021
Issue Type: Book Built Issue IPO
Issue Size: 78,40,000 Shares
Face Value: Rs.10/- per Share
Issue Price: Rs.1,480 β Rs.1,500 per Share *(Tentative)*
Discount: NIL
Market Lot: 10 Shares
Listing At: NSE, BSE
Equity Shares outstanding prior to the Issue = 4,55,55,575 Shares
Fresh Issue of 20,00,000 Shares @1500/- = Rs.300.00Crs
Offer for Sale of 58,40,000 Shares @1500/- = Rs.876.00Crs
Equity Shares outstanding after the Issue = 4,75,55,575 Shares
Category-wise Break up:
Anchor β 23,31,000 Shares = 349.65Crs
QIB β 15,54,000 Shares = 233.10Crs
NII β 11,65,500 Shares = 174.83Crs
RII β 27,19,500 Shares = 407.93Crs (Lot size: 10 = 2,71,950 Forms)
Empl. Quota β 70,000 Shares = 10.50Crs
Total Issue β 78,40,000 Shares = 1,176.00Crs.
Subscription required for 1X
RII = 2,71,950 Forms
NII = 174.83Crs
Indigo Paints IPO β Financial Information (Basis of Valuation)
The information is collated from the following documents:
1) DRHP = Draft Red Herring Prospectus dated November 11, 2020 (402 pages)
2) RHP = Draft Red Herring Prospectus dated January 11, 2020 (404 pages)
EPS for FY17-18 >>> Rs.02.82 (Page #119 of RHP)
EPS for FY18-19 >>> Rs.05.90 (Page #119 of RHP)
EPS for FY19-20 >>> Rs.10.49 (Page #119 of RHP)
EPS for H120-21 >>> Rs.05.97 (Page #119 of RHP)
RoNW for FY17-18 >>> 10.09% (Page #120 of RHP)
RoNW for FY18-19 >>> 18.22% (Page #120 of RHP)
RoNW for FY19-20 >>> 24.27% (Page #120 of RHP)
RoNW for FY16-17 >>> 12.12% (Page #120 of RHP)
NAV as on September 30, 2020 was Rs.49.20 (Page #120 of RHP)
Listed Industry Peer Group (Page #121 of DRHP):
Asian Paints
Berger Paints India
Kansai Nerolac Paints
Akzo Nobel India
Indigo Paints IPO β *Marketβs Current Estimates of oversubscription*:
NII = 60.00K Crs. = ~343.20X
RII = 26.00L Forms = 9.56X Applic. wise (Avg allotment of ~1.05 shares per lot)
Interest cost *@8.00%p.a.* for 7days = 230.14paise for 1X
Thus, for NII the costing = 343.20 X 230.14paise = Rs.789.83 per share (= GMP)
And, for RII the costing = 789.83 X 1.05 = Rs.826/- (= Kostak)
Indigo Paints IPO β *GMP Estimated*
GMP 845 +/- 2
Kostak 885 +/- 10