How do you see the anchor placement of Indigo Paints ahead of the IPO?

Indigo Paints just completed its anchor investor placement successfully a day ahead of the opening of its IPO. As per reports, Indigo Paints has managed to mop up a total sum of Rs.348 crore from anchor investors. The IPO opens on 20-Jan and Indigo Paints is backed by Sequoia Capital. The company operates in the decorative paints segment.

The IPO is to be open from 20 Jan to 22 Jan with both the days inclusive. In the anchor investment, a total of 23.35 lakh shares were allotted to a total of 25 anchor investors at the upper end of the price band of Rs.1490 per share. This gives a strong expectation that the IPO may also get eventually subscribed and allotted at the upper band.

Some of the marquee anchor investors that invested in the Indigo stock included GIC Singapore, Fidelity, Goldman Sachs, Nomura, Government Pension Fund, HSBC, SBI MF, HDFC MF, ICICI Pru MF etc. It may be recollected that the Rs.1170 crore IPO will consist of fresh issue of shares worth Rs.300 crore and an offer for sale worth Rs.870 crore.