Indigo Paints

Paint stocks decline as Brent crude oil set for steepest gain since February 2023

Peak XV Partners, formerly Sequoia Capital India and SEA, on Friday, divested a little over 22 per cent stake in Indigo Paints to investors like Morgan Stanley, Mercer and HDFC MF for Rs 1,557 crore via open market transactions. Venture capital firm Peak XV Partners through its two affiliates, Peak XV Partners Investments IV and Peak XV Partners Investments V, offloaded a total of 1.05 crore shares, amounting to a 22.04 per cent stake in Pune-headquartered Indigo Paints, as per the bulk deal data on the NSE. The shares were sold in the price range of Rs 1,475.96-1,489.35 apiece, taking the transaction value to Rs 1,557.05 crore. After the latest transaction, the shareholding of Peak XV Partners Investments IV has declined to 1.54 per cent from 12.14 per cent, while Peak XV Partners Investments V's stake has come down to 1.65 per cent from 13.09 per cent. Meanwhile, HDFC Mutual Fund (MF) acquired 10.04 lakh shares or 2.11 per cent of Indigo Paints, New York-based consulting firm Mer

Large deals of 4.03 million shares took place in Indigo Paints, with Peaky Partners likely to be the sellers, according to reports

CLSA downgrades Asian Paints to 'sell'

On the NSE, a total 1.05 million shares or 2.2 per cent of the equity of the company had changed hands till 10:11 am

Stocks to Watch: With oil prices staging a dramatic reversal, related stocks, along with rate-sensitive sectors will be on the radar as RBI announces its monetary policy outcome Friday.

In the past one month, the stock underperformed the market by falling 24 per cent, after Indigo Paints reported a disappointing set of numbers for Q3FY22 mainly in margin front.

In line with the industry, Indigo Paints had also increased the product prices in the December quarter to mitigate the sharp escalation in the price of raw materials.

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The stock had recently hit a fresh 52-week low of Rs 1,900 on December 27, 2021

In the past one month, the stock has underperformed the market by falling 11 per cent, after the company reported a disappointing set of numbers for quarter ended September 2021

The stock was trading lower for the fourth straight day, down 5.5 per cent during the period

Renuka Ramnath-led Multiples Private Equity sold nearly 12 lakh shares of multiplex chain operator PVR worth Rs 179 crore through open market transactions

Stellar debut becomes on back of hugely oversubscribed IPO, with 117 times more demand than shares on offer

The IPO of Indigo Paints had garnered 117 times subscription, generating bids worth Rs 96,222 crore

State-owned Coal India's coal production declined by 4.1 per cent to 60.5 million tonne (MT) last month

Given the strict trading restriction a 'short squeeze' strategy is difficult to execute in India.

The qualified institutional buyer (QIB) portion of the issue was subscribed 190x, while the high networth individual or HNI segment was subscribed 263x

IPO consists of Rs 300 crore in fresh fund raise and Rs 870 cr of secondary share sale. issue closes Friday

Indigo Paints or Home First Finance, which IPO is a safe investment bet?

In this podcast, Mr Vinod Nair, Head of Research at Geojit Financial Services and Mr. Ajit Mishra, VP Research, Religare Broking discusses and compares the IPOs of Indigo Paints and Home First Finance