Indigo Paints Makes Impressive Market Debut, Shares Jump Nearly 82% Over Issue Price

New Delhi: The shares of Indigo Paints made a strong market debut on Tuesday, with a 75 per cent premium over its issue price of Rs 1,490, given the strong initial public offering (IPO) subscription and Budget-driven bullish market sentiment. Backed by Sequoia Capital, Indigo Paints’ IPO attracted a strong subscription of 117 per cent in the last week of January. Also Read - Indigo Paints IPO Share Allotment Status: Here's How You Can Check Status Via Registrar, BSE Website

During the three-day bidding process, which ran from January 20 to January 22, the Indigo Paints IPO received a rave response from the stock market investors and was subscribed 117.02 times. It received bids for 64.58 crore shares against an offer size of 55.18 lakh shares. Also Read - IndiGo Paints IPO: Launch Date, Issue Price | All You Need To Know

Meanwhile, the portion reserved for qualified institutional buyers (QIBs) was subscribed 189.57 times, while that for non-institutional investors was lapped up 263.05 times. The retail portion was subscribed 15.93 times.