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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Expansion of Pudukkottai Manufacturing Facility
Funding capital expenditure for the proposed expansion of the manufacturing facility at Pudukkottai, Tamil Nadu by adding water-based paint capacities.
Purchase of Tinting Machines and Gyroshakers
Financing the purchase of tinting machines and gyroshakers for expanding the dealer network across India.
Repayment of Borrowings
Prepayment or repayment of all or certain borrowings availed by the company.
General Corporate Purposes
General corporate requirements and meeting issue related expenses.
(₹ in Crore)
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Indigo Paints Limited is one of the fastest-growing decorative paint companies in India. Incorporated in 2000 and headquartered in Pune, Maharashtra, the company has established itself as a prominent brand in the Indian decorative paint industry, holding a significant market share. Indigo Paints manufactures a complete range of decorative paints including emulsions, enamels, wood coatings, primers, distempers, and putties. The company has distinguished itself by introducing innovative and differentiated products in the market, such as metallic emulsions, tile coat emulsions, bright ceiling emulsions, and floor coat emulsions. Indigo Paints operates three manufacturing facilities located in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu), equipped with advanced machinery to ensure high quality and operational efficiency. Indigo Paints has built an extensive sales and distribution network spanning across India. The company actively installs tinting machines at dealer locations to enable customized paint shade creation, fostering deep dealer relationships and expanding brand presence in tier 1, tier 2, tier 3, and rural markets.
Indigo Paints raised ₹348 crore from 25 anchor investors by allocating 23,35,020 equity shares at ₹1,490 per share, with participation from major institutional investors including GIC, Fidelity, Goldman Sachs, Nomura, and HDFC Mutual Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 28 July 2026, 7:36 AM
Fastest-Growing Decorative Paint Brand
Indigo Paints is one of the fastest-growing decorative paint companies in India with a track record of consistent revenue and profit growth.
Extensive Differentiated Product Portfolio
The company has developed unique and differentiated products, such as metallic emulsions and tile coat emulsions, creating a strong brand identity.
Robust Distribution Network
An expansive dealer network equipped with tinting machines enables deeper market penetration and dealer loyalty.
Raw Material Price Volatility
Key raw material costs like titanium dioxide and crude oil derivatives are volatile and could affect profit margins.
Intense Competition
Operates in a highly competitive market dominated by well-established large players with significantly larger market shares.
Indigo Paints Limited
Indigo Tower, Street-5, Pallod Farm-2, Baner Road, Pune - 411045, Maharashtra, India
View on Maps →MUFG Intime India Private Limited
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