Indigo Paints
IPO Size
`1,170.16 Cr
Price Band
`1480-1490 Per Share
Minimum Lot Size
10 Share
Face Value
`10 Per Share
Employee Discount
`148 Per Share
Retail Allocation
35%
Issue Open Date
20 Jan 21
Issue Close Date
22 Jan 21
Listing Date
IPO Size
Price Band
Minimum Lot Size
Face Value
Employee Discount
Retail Allocation
Issue Open Date
Issue Close Date
Listing Date
Backed by the Government of India, Indian Railway Finance Corporation (IRFC) was set up on 12th December, 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets. The primary objective of IRFC is to meet the predominant portion of ‘Extra Budgetary Resources’ (EBR) requirement of the Indian Railways through market borrowings at the most competitive rates and terms. The Company’s principal business therefore is to borrow funds from the financial markets to finance the acquisition / creation of assets which are then leased out to the Indian Railways. IRFC has also been lending to various entities in Railway sector like Rail Vikas Nigam Limited (RVNL), Railtel, Konkan Railway Corporation Limited (KRCL), Pipavav Railway Corporation Limited (PRCL) etc.
| S.No. | 1 - Company | 2 - Directors | 3 - Promoters | |||
| Entity Name | By the Company | Against the Company | By the Director | Against the Director | By the Promoter | Against the Promoter |
| Criminal cases | - | - | - | - | - | - |
| Material civil cases | 19.62 | - | - | - | - | - |
| Taxation matters | - | 266.96 | - | - | - | - |
| Regulatory Procedings | - | 2.28 | - | - | - | - |
| Amt. (In Million Rs.) | 19.62 | 269.24 | - | - | - | - |
| Income Statement (In millions) | FY20 | FY19 | FY18 | |
| Gross Operating Income | 6264.36 | 5372.62 | 4031.05 | |
| Cost of Employee & Inventory | 3639.52 | 3349.07 | 2679.37 | |
| Other Expenses | 1698.52 | 1466.3 | 1077.37 | |
| EBITDA | 926.32 | 557.25 | 274.31 | |
| Depreciation | 196.1 | 170.54 | 90.24 | |
| Interest | 55.95 | 46.56 | 45.37 | |
| Profit Before Tax | 674.27 | 340.15 | 138.7 | |
| Exceptional Items | - | 3.05 | 13.16 | |
| Tax | 196.12 | 68.4 | -3.08 | |
| Profit After Tax | 478.15 | 268.7 | 128.62 | |
The promoters of the company are Hemant Jalan, Anita Jalan, Parag Jalan, Kamala Prasad Jalan, Tara Devi Jalan and Halogen Chemicals Private Limited.
In the listed space, the company will face tough competition from Asian Paints, Berger Paints, Akzo Nobel and Kansai Nerolac. Paint companies occupy healthy premium in the market due to their short cash conversion cycle and FMCG attribute.
The object of the Offer for Sale is to allow the shareholders to sell an aggregate of up to 58,40,000 equity Shares held by them. The company will not receive any proceeds from the Offer for Sale. Offer for Sale Size is of 5.84 million equity Shares aggregating up to ₹1,170.16 Cr (at an upper price band of Rs. 1,490).
The company has planned to raise fresh capital comprising an aggregate of 20,13,422 equity shares having Face Value ₹10 aggregating up to Rs. 300 Cr at the upper price band of Rs. 1,490. The net proceeds will be utilized for meeting the capital expenditure requirements for manufacturing facility expansion at Pudukkottai, Tamil Nadu amounting at Rs. 150 crores. The purchase of tinting machines and gyro shakers will cost Rs. 50 crores and payout of borrowings that stood at Rs. 25 crores. Residual will augment general corporate purpose.