Indigo Paints IPO a mega hit, subscribed 117 times on final day

NEW DELHI: Indigo Paints' Rs 1,170-crore initial sharesale garnered an overwhelming response from investors and was subscribed 117 times on the final day of bidding on Friday.

The IPO has received bids for 64.58 crore shares against an offer size of 55.18 lakh shares, translating into a subscription of 117.02 times, data available on the exchanges showed.

The portion reserved for Qualified Institutional Buyers (QIBs) was subscribed 189.57 times, while that of noninstitutional investor categor y received 263.05 times subscription and retail portion was subscribed 15.93 times.

Indigo Paints has mopped up Rs 348 crore from anchor investors on Tuesday.

The Rs 1,170.16-crore IPO comprises fresh issuance of stocks aggregating to Rs