“Flying Colours” – Book Running Lead Manager to the IPO of Indigo Paints Limited

Qualified Institutional Placement

Service

January 2021

Date

Consumer

Sector

INR 11,691 MN

Deal Value

“Flying Colours” – Book Running Lead Manager to the IPO of Indigo Paints Limited

Deal Highlights:

  • First IPO of a pure play paints company in the last 3 decades
  • Amongst the 6 highest mobilized issuances* in the last decade
    • QIB – ~189.8x; HNI – ~261.6x; Retail – ~13.7x; Overall 115.7x; 30 lacs+ applications
  • The deal was executed in one of the shortest timelines – IPO launched within 11 weeks of DRHP filing
  • The deal saw participation from diverse set of institutional investors across geographies and categories

Our Contribution:

  • We led the positioning efforts of the company garnering bids from marquee investors across categories – Sovereign Wealth Funds, FPIs as well as Domestic Funds
  • Only bank to procure bids from US only funds^
  • Played a pivotal role in value optimization for the company and selling shareholders
  • We pioneered the non institutional marketing efforts, translating into record breaking performance
    • Leveraged our pan-India network to help garner the highest no. of applications in a consumer issuance in the last decade
    • Tapped into our extensive wealth management network empowering one of the highest HNI mobilization

* As per amount mobilized
^ In the anchor book