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Sequoia Capital-backed Indigo Paints has received markets regulator SEBI's approval to raise about ₹1,000 crore through an initial public offering.
The IPO comprises fresh issuance of shares aggregating to ₹300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital, through its two funds, SCI Investments IV and SCI Investments V, and promoter Hemant Jalan, according to the draft red herring prospectus (DRHP).
Indigo Paints, which filed its preliminary IPO papers with SEBI in November, obtained its observation on December 31, an update with the market watchdog showed on Monday.
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