Companies

Indigo Paints raises ₹348 crore from 25 anchor investors

Our Bureau Mumbai | Updated on January 20, 2021

The shares were priced at ₹1,490 per piece

Sequoia Capital-backed Indigo Paints Ltd, now the fifth largest in the country in decorative paint industry, has raised ₹348 crore from 25 anchor investors, including the Government of Singapore Investment Corporation (GIC).

Of the total 23.35 lakh shares, GIC bought 4.9 per cent of the shares for ₹16.99 crore, while Fidelity was allotted 4 per cent of the shares for ₹13.99 crore. Goldman Sachs, Nomura, Government Pension Fund Global, Pacific Horizon Investment Trust, HSBC and Stewart picked up 3.9 per cent for ₹13.50 crore each, the company said in a regulatory filing.

Capital Group was the largest investor among foreign institutions, buying 11.5 per cent of the anchor investor portion for ₹39.92 crore. Other Marquee FIIs include Carmignac, White Oak, Matthews, Theleme, Virtus Kar Emerging Markets Small-Cap and Jupiter.

The shares were priced at ₹1,490 per piece.

Among domestic institutions State Bank of India Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund and Nippon Mutual Fund each picked 4.6 per cent of the shares on offer for anchor investors for ₹16 crore. Axis Mutual Fund, Birla Mutual Fund, Kotak Mutual Fund and Motilal Mutual Fund each bought 3.7 per cent of the shares for ₹13 crore. Additionally, HDFC Life and ICICI Prudential Life each picked up 2.9 per cent for ₹10 crore.

Published on January 20, 2021

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