Shardul Amarchand Mangaldas & Co. advises the Book Running Lead Managers in the ₹ 1,170 crore initial public offering by Indigo Paints Limited

February 24, 2021

Shardul Amarchand Mangaldas & Co. advised Kotak Mahindra Capital Company Limited, Edelweiss Financial Services and ICICI Securities Limited (collectively the “Book Running Lead Managers”) in Indigo Paints Limited’s initial public offering of 7,853,422 equity shares aggregating to ₹ 1,169.12 crores (approx.) comprising a fresh issue of 2,013,422 equity shares aggregating to ₹ 299.73 crores (approx.) and an offer for sale of 5,840,000 equity shares from Sequoia Capital India Investments IV and SCI Investments V and Hemant Jalan. The date of closing was 2 February 2021.

The offering was oversubscribed ~ 117x. Further, the Equity Shares were listed at a 75% premium.

The transaction team was led by Prashant Gupta, National Practice Head – Capital Markets; Monal Mukherjee, Partner; Mubashshir Sarshar, Senior Associate; Aditi Verma, Associate; Oindree Bandyopadhyay, Associate; and Tarun Srikanth, Associate.

Cyril Amarchand Mangaldas advised Indigo Paints Limited. Squire Patton Boggs (MEA) LLP advised the Book Running Lead Managers on aspects relating to the U.S. Securities Law. Khaitan & Co. advised Sequoia Capital India Investments IV and SCI Investments V.