Sector: Consumer

“Flying Colours” – Book Running Lead Manager to the IPO of Indigo Paints Limited

Deal Highlights:

  • First IPO of a pure play paints company in the last 3 decades
  • Amongst the 6 highest mobilized issuances* in the last decade
    • QIB – ~189.8x; HNI – ~261.6x; Retail – ~13.7x; Overall 115.7x; 30 lacs+ applications
  • The deal was executed in one of the shortest timelines – IPO launched within 11 weeks of DRHP filing
  • The deal saw participation from diverse set of institutional investors across geographies and categories

Our Contribution:

  • We led the positioning efforts of the company garnering bids from marquee investors across categories – Sovereign Wealth Funds, FPIs as well as Domestic Funds
  • Only bank to procure bids from US only funds^
  • Played a pivotal role in value optimization for the company and selling shareholders
  • We pioneered the non institutional marketing efforts, translating into record breaking performance
    • Leveraged our pan-India network to help garner the highest no. of applications in a consumer issuance in the last decade
    • Tapped into our extensive wealth management network empowering one of the highest HNI mobilization

* As per amount mobilized
^ In the anchor book

“Whopper” of a Deal – Book Running Lead Manager to the Highest Subscribed IPO*

Our Contribution:

Pre-IPO:
Mobilized 80%+ of the Pre-IPO Tranche
  • We championed the marketing strategy and led the positioning efforts
  • Converted cornerstone investors for the Pre-IPO creating strong traction in the deal
    • Amansa – ~INR 167 cr
    • SBI MF – ~INR 40 cr
IPO:
#1 – Mobilized 33%+ share in the Anchor Book in a 4-bank syndicate
  • Converted marquee FIIs and DIIs in the anchor book
  • Leveraged on our pan-India Retail Distribution Network leading to more than 24 lac applications
  • Tapped into our wealth management clients for mobilizing stellar demand in the HNI category

Deal Highlights:

  • The deal was fully subscribed within hours of issue opening on back of strong retail participation
  • Highest subscribed IPO* – (QIB1 – 86.5x; NII – 355.5x; Retail – 56.9x; Overall subscription – ~155x)
  • The deal saw participation from marquee institutional investors across the globe

1– Ex-Anchor; >sup>*– India IPOs above INR 500 crs since
2008; #– Includes Pre-IPO placement