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Indigo Paints to raise Rs 500-800 cr

Tuesday, 25 Jun 2019

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Indigo Paints is looking forward to raise Rs 500-800 crore through an IPO in 2020. The public issue may come out in September-October 2020 and is likely to give a partial exit option to Sequoia Capital, the PE fund, which has around 38 percent stake in the company.

The company will require the funds as it looks to expand pan-India. The IPO will also help the company to scale up further and be among the major players in the paint industry of the country. It will also look to expand presence in the decorative paints segment.

It is targeting an over 40 percent annual growth in FY20 and a turnover of Rs 850-875 crore.

The company will look to invest Rs 55 crore as capex across its existing facilities as it looks to raise production.